Unified Global Corp Signs Letter Of Intent To Acquire Oregon Vertically Integrated Cannabis Operator

Rhea-AI Summary

Unified Global Corp (CHYL) announced a non-binding letter of intent to acquire Be Wonderful Wellness, a craft cannabis operator in Portland, Oregon, valued at approximately $2.4 million. This acquisition is a crucial step in UGC's strategy to become a vertically integrated cannabis operator across Canada and the U.S. The deal involves two closings: the acquisition of real estate and intellectual property, followed by regulatory approval for licenses. UGC aims to capitalize on the growth potential in the cannabis sector, enhancing its operational capabilities.

Positive

• UGC aims to become a vertically integrated, profitable cannabis operator with this acquisition.
• Acquisition enhances UGC's brand recognition and operational capabilities in the cannabis market.
• The transaction will position UGC as a Canadian-American Multi State Operator (Can-Am MSO) with operations in two countries.

Negative

• Regulatory approval for the assignment of licenses is required before the second closing.
• There are no guarantees that the acquisition will close as expected.

DENVER, CO and CALGARY, AB / ACCESSWIRE / October 21, 2021 / Unified Global Corp ("UGC") (OTC PINK:CHYL) announced today its that it signed a non-binding letter of intent to acquire its initial US cannabis business, located in Portland, Oregon. Be Wonderful Wellness is a vertically integrated craft cannabis farming operation and retail establishment known for their consistent high quality cannabis production and retail sales throughout the State of Oregon.

"Be Wonderful is excited by this opportunity to continue our growth. This deal allows us to maintain our brand recognition and supports our efforts to grow living-soil cannabis. Upon closing we will also receive the benefits offered by a publicly traded company" stated Brian Hall, dispensary owner and Lead Grower on the farm who has over 20 years of experience in the cannabis industry. UGC will continue to utilize Mr. Hall's talents to oversee the highest quality production at his farming operation.

"Partnering with Be Wonderful is a significant step towards our objective of becoming a vertically integrated, profitable, regenerative cannabis operations that provide naturally grown cannabis from seed to sale," notes Kelly Blume UGC's Chief of Cultivation. "We are excited to have Brian and his team in our collective. They bring a passion for the plant and the desire to grow cannabis that is in harmony with our vision of what "top shelf" cannabis means," Blume stated.

Upon completion of this Oregon transaction and the closing of last week's announced Letter of Intent to acquire a Canadian dispensary chain, UGC would become the world's first Canadian-American Multistate Operator (Can-Am MSO) with retail operations in two counties.

The Oregon transaction is expected to have two separate closings. Initially, UGC will acquire the real estate, including the farm and retail location, along with all of Be Wonderful's intellectual property. The second closing will occur upon the approval of the assignment of the applicable licenses by the OLCC. The anticipated purchase price, which is subject to adjustment, is expected to be approximately $2.4 million, which will be paid in cash and stock. While there are no assurances that either of the announced transactions will close. The first closing of the Oregon transaction is expected to occur prior to year end.

About Unified Global

Unified Global intends to become a vertically integrated Canadian/American Multi State Operator (Can-Am MSO) by consolidating cannabis operations in three markets from two countries., The Company's management is an experienced team with significant cannabis operating expertise.

FOR FURTHER INFORMATION PLEASE CONTACT:

UNIFIED GLOBAL CORP.
Media@unifiedglobalcorp.com
(888) 881-6572ext. 200
www.unifiedglobalcorp.com

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained in this press release includes, without limitation, the Company's intention to acquire the Canmore Cannabis Company and the Cochrane Cannabis Company, strategic plans for Unified Global generally, the growth rate, size or nature of the cannabis market, the success of the cannabis retailers which Unified Global acquires or in which it intends to invest, Unified Global's business plans, Unified Global's business strategy and investment plans, and Unified Global's ability to grow and become a vertically integrated cannabis company. There is no assurance that the transactions described herein will occur on the expected timeline, in the manner described or at all.

Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward- looking information in this press release including the inability or failure of Unified Global in completing the acquisition of the Cochrane Cannabis Company or Canmore Cannabis Company as described, or at all, the receipt of all applicable regulatory approvals for the transaction, including the AGLC's approval as required under applicable law, the inability or failure of Unified Global to execute their business and strategic plans as contemplated or at all, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence in the COVID-19 pandemic.

Other risk factors include: the risks resulting from the US marijuana industry, which may be legal under certain before the state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit Unified Global's ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Unified Global to service its current or future debt; Unified Global's ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.

The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. Unified Global undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

SOURCE: Unified Global Corp.

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FAQ

What is the purpose of Unified Global's acquisition of Be Wonderful Wellness?

The acquisition aims to enhance UGC's operations and become a vertically integrated cannabis operator.

What is the expected value of the acquisition deal?

The acquisition is valued at approximately $2.4 million.

When is the first closing of the acquisition expected to happen?

The first closing is anticipated to occur prior to year-end.

What are the risks associated with Unified Global's acquisition strategy?

Risks include the need for regulatory approvals and uncertainties in the competitive cannabis industry.

How will this acquisition impact Unified Global's market position?

It is expected to strengthen UGC's brand and operational capabilities in the cannabis market.