LiveWire Ergogenics Completes Acquisition of Makana Ola Farms Located in Humboldt California

Rhea-AI Summary

LiveWire Ergogenics Inc. (OTC: LVVV) has successfully acquired Makana Ola Farms in Humboldt, California, completing a strategic deal that began with a letter of intent in September 2021. The acquisition allows LiveWire to own 100% of the farm, which is now fully operational with state licensing in place. This 40-acre facility will enhance LiveWire's portfolio focused on sustainable, handcrafted cannabis cultivation. The company plans to implement a robust marketing strategy for Makana Ola products, leveraging its established distribution network throughout California.

Positive

• Acquisition of Makana Ola Farms enhances operational capabilities in cannabis cultivation.
• No additional shares will be issued for the acquisition, avoiding shareholder dilution.
• Existing marketing and management agreement expected to boost product visibility and sales.
• The facility is poised to contribute significantly to revenue with the first harvest expected in spring.

Negative

• None.

Anaheim, CA, March 01, 2022 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California, today announced that it has exercised its option and completed the acquisition of Makana Ola Farms in Humboldt, California.

As earlier reported, in September 2021, LiveWire executed a Letter of Intent to acquire a five (5%) equity position of Makana Ola Farms with the option to acquire one hundred percent of the Farm subject to meeting specific legal, licensing, and financial milestones. Now that Makana Ola has received its State license, is fully operational, and the due diligence process has been concluded, LiveWire has executed a definitive agreement to acquire one hundred percent of Makana Ola. The remaining 95% of Makana Ola has been acquired via a performance-based earn-out and will not require the issuance of any additional LiveWire common shares.

This acquisition will add an exceptional cultivation facility to LiveWire's portfolio of carefully selected affiliates and subsidiaries dedicated to cultivating environmentally sustainable sun-grown and handcrafted cannabis. In addition, Livewire has entered into a marketing and management agreement with Makana Ola and will begin an aggressive marketing and branding campaign for the products grown at the Farm. This will give the Makana Ola products access to the broad California distribution network that LiveWire has established with its affiliate companies.

Bill Hodson, CEO of Livewire Ergogenics, states, "Now that we have concluded the acquisition process and Makana Ola is a wholly-owned subsidiary, we are eager to move forward with increasing urgency to bring the exceptional products produced at Makana Ola to the California consumer market. This agreement establishes an even closer relationship with the Makana Ola team, the same team running the Estrella River Farms cultivation on Estrella Ranch and has proven to grow cannabis of exceptional quality. This is another step towards our goal of expanding our valuable roster of affiliate and subsidiary companies operating in the California cannabis market. We expect this transaction to have a material impact on the financial performance of LiveWire moving forward.

Jason Spain of Makana Ola Farms said, "As we had envisioned when we entered into the Letter of Intent with LiveWire, we are now ready to commence with the full operation and are well prepared to deliver our first full harvest in spring. Our family is happy to strengthen our ties with the Livewire family even further and participate in the inevitable success of Livewire."

About Makana Ola Farms

The Makana Ola Farms is a 40-acre parcel with a 9,900 sqft cultivation area located in the heart of Humboldt County in Northern California with sufficient water and electricity facilities. Processing, including drying and curing, occurs within a 560-square-foot structure, with further trimming and packaging executed offsite at a licensed processing facility. Makana Ola is a guarded secret of proper marijuana horticulture quietly grown amongst the giant redwoods. Cannabis has been an integral part of the Humboldt culture for decades. Growing organic cannabis for a living is a local tradition practiced and handed down from generation to generation, always with a clear focus to reduce environmental impact and generate the smallest carbon footprint possible.

About LiveWire Ergogenics Inc.

The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations to establish fully compliant and permitted facilities to produce cannabis-based products and establish relationships for the state-wide distribution of these products in California. This includes developing and licensing high-quality organic cannabinoid-based products and services and creating the high-quality "Estrella Grown Weedery^™" brand via its affiliate companies Estrella Ranch Partners and Estrella River Farms. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.

Forward-Looking Statements

This release contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company's future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806 714-740-5144 www.livewireergogenics.com info@livewireergogenics.com

MARKET AWARENESS Stockwatchindex, LLC 442-287-8059 www.stockwatchindex.com info@stockwatchindex.com

LIVEWIRE INVESTOR RELATIONS Tristan Cavato (805) 835-2415 ir@livewireergogenics.com info@livewireergogenics.com

FAQ

What is the significance of LiveWire's acquisition of Makana Ola Farms?

The acquisition strengthens LiveWire's operational capabilities in cannabis cultivation and enhances its product offerings.

How will the acquisition of Makana Ola Farms affect LiveWire's financial performance?

LiveWire expects the acquisition to materially impact its financial performance by increasing its revenue potential through enhanced product distribution.

What are the main features of Makana Ola Farms?

Makana Ola Farms is a 40-acre facility with a 9,900 sqft cultivation area in Humboldt County, known for its environmentally sustainable cannabis cultivation.

When can we expect the first harvest from Makana Ola Farms?

The first full harvest from Makana Ola Farms is anticipated in spring.