VANCOUVER, British Columbia, May 29, 2019 – Organic Flower Investments Group Inc. (CSE: SOW)(FWB: 2K6)(OTC: QILFF) (“Organic Flower” or “OFIG” or the “Company”) is pleased to announce the Company has entered into a definitive agreement to acquire all of the issued and outstanding shares of Trichome Cannabrands Inc. (“Trichome”), an Ontario-based branding and licensing company with a diversified portfolio of cannabis product and service trademarks registered in Canada.
Following legalization, Trichome has engaged in an aggressive cross-Canada branding strategy for the newly bourgeoning cannabis industry. As a result, it was able to capitalize on a series of recognizable, though un-registered, trademarks for exclusive use within the cannabis industry. Trichome has a portfolio of 57 registered trademarks in Canada for a diversified range of cannabis products and services, including:
- MEDICINAL CANNABIS – Medicinal cannabis for the relief of nerve pain, treatment of muscle spasms caused by multiple sclerosis, relief of nausea caused by chemotherapy, temporary relief of seizures, and cannabis oil for the treatment of cancer;
- RECREATIONAL CANNABIS – Online and retail sale of cannabis, cannabis related products, derivatives of cannabis, and natural health products containing cannabis;
- CBD‐INFUSED PERFORMANCE PRODUCTS – CBD oil for medical purposes, topical anesthetics, antibiotic cream, and anti-inflammatory ointments;
- PACKAGING AND VAPE PRODUCTS – Packaging of cannabis, cannabis related products, derivatives of cannabis and natural health products containing cannabis, and cannabis oil for electronic cigarettes;
- COSMETICS – Makeup, beauty care cosmetics, eye cream, body creams, massage creams, massage oils, skin care preparations, body powders, body oils, bath soap, moisturizing skin lotions, body sprays used as personal deodorants and fragrances, non-medicated bath salts, exfoliating scrubs for the body, and bath oils;
- CANDY, CHOCOLATE, EDIBLES – Cannabis oil for food and edible oils, chocolate bars infused with cannabis, brownies containing marijuana, chocolate, and sugar confectionery;
- BEVERAGES AND BOTTLING – Non-alcoholic fruit-based beverages, carbonated soft drinks, sports drinks, beverage flavourings, beverages made of coffee, and tea;
- CANNABINOID INFUSED BEERS, CIDERS, ETC. – Alcoholic-based beverages, alcoholic fruit beverages, alcoholic tea-based beverages.
Included in the portfolio of trademarks are regional airport codes, telephone area codes, and other such recognizable regional identifiers that show significant branding potential for the cannabis space.
Joel Dumaresq, Chief Executive Officer and a Director of Organic Flower stated:
“Trichome Cannabrands has developed an impressive stable of high-value trademarks with immediate brand recognition in various communities. The number of registered marks and the robust coverage of the registration with the Registrar of Trademarks in Canada, allows Organic Flower to immediately utilize these marks across its diversified holdings and enhance its marketing and distribution efforts in Canada and other international jurisdictions.”
Under the terms of the definitive agreement, Organic Flower will acquire 100% of all the issued and outstanding shares in the capital of Trichome in exchange for an aggregate of 10,000,000 common shares in the capital of the Company, based upon the five-day VWAP of Organic Flower’s common shares for the five trading sessions prior to the announcement of the definitive agreement (the “Payment Shares”). The Payment Shares issuable on the acquisition, are subject to a hold period of at least four (4) months and one (1) day. The closing of this acquisition is subject to customary terms and conditions.
OFIG’s acquired interest in Trichome will form part of the asset sale to AgraFlora Organics International Inc. (“AgraFlora”). As previously announced on May 23, 2019, it is anticipated that the sale price for the sale assets will be comprised of 1.15 shares of Agraflora for each one (1) issued and outstanding share of OFIG at the time of closing of the asset sale.
A finder’s fee is payable on this transaction.
ABOUT ORGANIC FLOWER INVESTMENTS
Organic Flower, an investment holding firm, is leveraging strategic relationships, proprietary investments and exclusive partnerships with pre-eminent international cannabis cultivators and formulators for the development of best-in-class products and brands to be marketed and distributed throughout its global footprint.
ON BEHALF OF THE ORGANIC FLOWER INVESTMENTS GROUP INC. BOARD OF DIRECTORS
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Learn more about Organic Flower by visiting our website at: https://cleanpower.capital/
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Notice Regarding Forward Looking Information:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, the Company’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting the Company in particular and the cannabis industry generally.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.