Agoracom Blog

Thoughtful Brands $TBI.ca Finalizes Deal with Unified for Asset Acquisition $APH.ca $GBLX $PFE $ACG.ca $ACB.ca $WEED.ca $SHRM.ca $RVV.ca

Posted by AGORACOM at 12:23 PM on Saturday, August 22nd, 2020

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564664/hub/Throught_brands_logo.png

  • Acquired the rights to an E-commerce software platform that provides the Company with the opportunity to capture previously unrealized value from the products it launches in the online natural health market.

August 22, 2020 / Thoughtful Brands Inc. (CSE:TBI)(FWB:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands“) is pleased to announce that its wholly-owned subsidiary, Ecommerce Tech LLC, has acquired the rights to an E-commerce software platform (the “Software“) from Unified Funding LLC’s wholly-owned subsidiary, Offer Space LLC (“Offer Space“). The acquisition of the asset provides the Company with the opportunity to capture previously unrealized value from the products it launches in the online natural health market.

The Software has facilitated over Cdn$350 million in consumer transactions, including Cdn$93.8 million in 2019. The asset will enhance the management of the Company’s already profitable online brands, and will allow the Company to launch new products and enter into emerging natural health markets worldwide, more efficiently. In addition to providing immediate value to the existing brands owned and operated by Thoughtful Brands, the newly acquired E-commerce platform is expected to reduce current operating costs.

“The Company was very successful in its negotiations with Unified Funding, and ultimately acquired the asset for US$1 million. The Company’s success in negotiating such favorable terms not only results in less dilution for existing Thoughtful Brands shareholders, it also adds immediate value to the Company,” stated Ryan Hoggan, Chief Executive Officer of Thoughtful Brands. “This acquisition is a critical milestone in executing our strategy to further our reach in the natural health products sector. Now that we own the software platform, integral technology and top brands, we will further develop and launch our own platform that will be even more powerful and fit in with our overall strategy.”

Thoughtful Brands’ existing portfolio of direct-to-consumer hemp-CBD brands includes Nature’s Exclusive, whose roster of topicals and oils available in North America generated more than Cdn$28 million in sales in 2019, and Sativida. The Company also recently acquired two leading E-commerce brands selling natural health products in the United States, Golden Path and Wild Mariposa.

Transaction Details

The Company has acquired the Software from Unified Funding LLC’s wholly-owned subsidiary, Offer Space, in consideration for US$1,000,000 (the “Purchase Price“), which was satisfied through the issuance of 6,290,170 common shares of the Company (the “Consideration Shares“) issued at a deemed price of Cdn$0.2094. The Company also paid an administrative fee of 62,902 common shares of the Company to a consultant who assisted with the transactions (the “Administrative Fee Shares“).

The Consideration Shares and Administrative Fee Shares are subject to a statutory hold period until December 22, 2020, in accordance with applicable securities laws.

About Thoughtful Brands Inc.

Thoughtful Brands Inc. is an E-commerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe. Through continuous strategic acquisitions, the Company has a strong footprint in the CBD market, as well as the burgeoning psychedelic medicine sector. Thoughtful Brands owns and operates a 110,000 square foot pharmaceutical manufacturing facility in Radebeul, Germany, where its highly skilled team conducts clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction, while planning for future opportunities to create proprietary psilocybin products.

ON BEHALF OF THE BOARD OF DIRECTORS
THOUGHTFUL BRANDS INC.

Ryan Hoggan
Chief Executive Officer

Tags: , , , , , , ,

Comments are closed.