CuraScientific Discloses Cal Care Grp Acquisition and Financial Data
PALM SPRINGS, CA, May 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- CuraScientific Corp. (OTC PINK: CSTF) (“CuraScientific” or the “Company”), a revenue alternative lifestyle company that owns and operates multiple licenses to manufacture, distribute and deliver brand name and proprietary natural-based cannabis and kava products for consumers seeking healthier choices to relieve stress and anxiety, announces the official acquisition/share exchange of Cal Care Grp, Inc.
The Company filed an 8-K/A on October 24, 2022, stating that on October 1, 2022, Boon Industries, Inc. (the “Company”), entered into a Share Exchange Agreement, with Cal Care Grp, Inc. (“Cal Care”), and William Reed, as the sole shareholder of Cal Care (the “Share Agreement”). Cal Care Grp, Inc. is a licensed delivery and distribution company with locations in Southern and Northern California doing business as JW Brands, LLC. The Share Agreement provides for the acquisition by the Company of all of the outstanding shares of Cal Care from Mr. Reed, who is also the Company’s Chairman and Chief Executive Officer, in consideration of the issuance to Mr. Reed of 500,000 shares of the Company’s Series A Preferred Stock. The Company filed an 8-K/A on April 11, 2023, stating that although the Share Agreement of October 1, 2022 provided for a closing on the same date the Share Agreement was entered into, the Shares were not delivered to Mr. Reed until April 5, 2023. Accordingly, the Board of Directors of the Company has concluded that the closing of the transactions under the Share Agreement was not effective until April 5, 2023.
Accordingly, the financial data for the company which will include the revenue for Cal Care Grp Inc. will be prepared by the auditor for the second quarter for the period ending June 30, 2023. The unaudited financial data for Cal Care Grp will include the gross revenues for the fourth quarter ending 12/31/2022 and first quarter ending 3/31/2023 to be
On November 10, 2022, the company filed a PRE14C disclosing to approve the merger of Boon with and into CuraScientific Corp., a newly formed Florida corporation (the “Reincorporation Merger”), which will change the domicile from Oklahoma to Florida; implement a reverse stock split of our common stock on the basis of the issuance of one share of CuraScientific Corp. common stock for each 500 shares of common stock of Boon outstanding prior to the Reincorporation Merger; and adopt Florida articles of incorporation and bylaws to govern CuraScientific Corp. as the successor to the Company following the Reincorporation Merger. The DEF14C was filed on December 19, 2022, and this action was effective on April 24, 2023.
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About CuraScientific Corporation: CuraScientific owns and operates Cal Care Grp, Inc.; a multi-location licensed company for distribution, manufacturing and delivery of cannabis that offers innovative products to the discerning, high-end customer market, producing a full suite of premium, artisanal cannabis products sold under its consumer brands, ‘JW Brands’ and ‘Chad Enterprises'. Cal Care Grp is a vertically-integrated cannabis company that applies pharmaceutical industry standards to developing, cultivating, producing, and dispensing medical cannabis and medical cannabis products in California. The company is in process of building Kava Bars under its brand name RZDxWLVS, Inc. (Raised by Wolves) with multi-location kava bars planned in Palm Desert, California and Las Vegas, Nevada.
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Please note that from time to time the Company may post new information at its website CuraScientificcorp.com, or via its current social media accounts available on this website.
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