Demand Brands (DMAN) Acquires Lucky Chief
Demand Brands (OTC PINK:DMAN) announced the acquisition of Viride Research Fund, a significant player in the cannabis industry, through its subsidiary Pacific Technologies Group. In exchange for DMAN preferred and common stock, the company will gain access to Viride's THC Genetics Library and an Extraction Lab and Dispensary, enhancing its vertically integrated cannabis-focused operations under the brand Lucky Chief™. Ian Dixon will join as CEO, aiming to maximize the operational footprint and distribution network for long-term shareholder value.
- Acquisition of Viride enhances DMAN's cannabis portfolio and operational footprint.
- Access to a patented THC Genetics Library and Extraction Lab boosts product offerings.
- Vertical integration aligns with strategic goals to enhance long-term shareholder value.
- None.
SANTA MONICA, CA / ACCESSWIRE / May 18, 2021 / Demand Brands, Inc. (OTC PINK:DMAN), ("Company" or "DMAN"), announced today that its wholly owned subsidiary Pacific Technologies Group, Inc , http://www.pacifictechnologiesgroup.com, has entered into agreement with Viride Research Fund, LLC. ("Viride"), a leading company in the global cannabis industry. Under the agreement DMAN, in exchange for an issuance of DMAN preferred and Common stock, will acquire Viriude and certain assets to be marketed under the brand "Lucky Chief™" http://www.luckychief.com, including Viride's THC Genetics Library and its interest in an Extraction Lab and Dispensary. The acquisition of the synergistic assets is to advance a vertically integrated cannabis-focused consumer packaged business.
Ian Dixon, Chief Executive Officer of Viride, will join the DMAN Board and become its new CEO. Peter Erdekian will remain a Company Director and Lucky Chief™ Executives Trevor Norrbom will come on board as CTO, Marcus Childress as CFO and Andy Rudenstein as COO.
Erdekian said "We have been working diligently to identify a quality business to bring into DMAN that was in an important, emerging sector. Lucky Chief™ with its highly scalable operational footprint, a curated portfolio of diverse cannabis genetics and products and a multi-state distribution network is positioned, we believe, to deliver long-term value for our shareholders."
Dixon added, "I am thrilled to be joining the board and management team of DMAN and having the opportunity to integrate several of our strategic Cannabis consumer businesses under one parent platform. My team and I are firm believers in the vertical integration of this sector and where the space is headed over the next several years starting with our patented genetic seed library."
About Lucky Chief™ - Lucky Chief™ is a pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids. Lucky Chief™ was one of the first licensed producers of cannabis concentrates in California out of our Type 7 Lab in Oakland Ca and also have our own in house catalog of genetics. Our vertically-integrated "seed-to-sale" operation has been on dispensary shelves since 2016. We pride ourselves on our in-house cannabis dispensary named the Cannabis Outlet with our flagship location under construction in Atwater, Ca. Lucky Chief™ is committed to growing its Cannabis Outlet dispensary footprint in California
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", "projects" "will", or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
Press Contact:
connect@pacifictechnologiesgroup.com
323-967-7900
SOURCE: Demand Brands, Inc.
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