LiveWire Ergogenics Executes Letter of Intent to Acquire Equity Position in Makana Ola Farms Located in Humboldt California

Rhea-AI Summary

LiveWire Ergogenics Inc. (OTC: LVVV) has announced a Letter of Intent to acquire a 4.99% equity position in Makana Ola Farms, located in Humboldt, California, with an option for complete acquisition. This transaction involves issuing 10 million restricted shares, enhancing LiveWire's portfolio in sustainably grown cannabis. The acquisition aligns with LiveWire's strategy to boost production capacity and strengthen its operational relationship with Makana Ola Farms. The farm is nearing full operational status following local and state approvals for its 40-acre site.

Positive

• Acquisition of a 4.99% equity position in Makana Ola Farms enhances LiveWire's portfolio.
• Transaction includes an option for complete acquisition, indicating potential future growth.
• Expert team from Makana Ola will help in cultivating high-quality craft cannabis.
• Strengthened operational relationship with Makana Ola expected to improve financial performance.

Negative

• Issuing 10 million restricted shares may lead to potential shareholder dilution.

Anaheim, CA, Sept. 28, 2021 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to produce high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California; today announced that it has signed a Letter of Intent to acquire a minority equity position in Makana Ola Farms (“MOF”) located in Humboldt, California, with an option for a complete acquisition.

The letter of Intent establishes a 4.99% equity position for Livewire Ergogenics with an option for additional equity ownership subject to certain legal, licensing, and financial milestones. The transaction requires the issuance of 10 Million restricted shares of Livewire Ergogenics transferrable upon final agreement of minority position. This will add an exceptional cultivation facility to LiveWire’s portfolio of carefully selected affiliate and subsidiary companies dedicated to cultivating environmentally sustainable sun-grown craft cannabis for distribution throughout California.

Bill Hodson, CEO of LiveWire Ergogenics, states, “We welcome Jason Spain, his team, and Makana Ola Farms to our family of companies. We have been working with the Makana Ola Farms’ expert team of growers, a passionate crew that eats, sleeps, and breathes their craft for some time now. They have been crucial in getting the Estrella River Farms operation in Paso Robles up and running in record time, and now the first acre harvest is right around the corner. With the expanded acreage next year on Estrella Ranch and the addition of Makana Ola, the timing of our scalability is perfect.”

Makana Ola Farms has completed its initial Humboldt County approval process and is in the final approval stage from the State, which will allow the farm to be in full operational mode shortly. Makana Ola Farms is a 40-acre parcel with a 9,900 sq ft cultivation area located in the heart of Humboldt County in California. Humboldt County is synonymous with cannabis since cultivators with a strong passion for quality cannabis have grown there for many years.

“The acquisition of a minority equity position, in addition to our current consulting and marketing services agreement, strengthens our relationship even further, allowing us to utilize the same expert team for both our locations. This cooperation establishes an economically prudent operation on both sides by interchanging resources as needed and will accelerate our financial performance. At the same time, it assures the cultivation of the absolute best quality craft cannabis in California on Estrella Ranch and Makana Ola Farms. I believe these farms will produce some of the strongest brands to emerge from the California cannabis scene,” concludes Hodson.

Jason Spain of Makana Ola Farms said, "We are delighted that LiveWire has acquired an equity position in our farm, with the prospect of a full acquisition, further manifesting our already close working relationship with LiveWire’s affiliate company Estrella River Farms in Paso Robles. Livewire's new equity position in our Company will intensify our already close working relationship and allow us to run both farm locations, Paso Robles and Humboldt, even more economically. Our family is humbled and grateful for LiveWire's assistance and guidance in advancing the Makana Ola Farms development; Mahalo Nui Loa, 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, utilizing 100% natural catching techniques armoring the hillside with a catchment system that does not interfere with local foliage. Processing, including drying and curing, will occur within a 560-square-foot structure, and further processing such as trimming and packaging will occur 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 Polynesian culture for many decades. Growing organic cannabis for a living is a local tradition that has been practiced and handed down from generation to generation, always with a clear focus to reduce environmental impact.

About Estrella Ranch "Estate Grown Weedery^™"

Estrella Ranch is a historic ranch property in Paso Robles, the center of the world-renowned California wine country. Through its affiliate companies Estrella Ranch Partners and Estrella River Farms, the Company has begun to transform this stunning property into the world's first "Estate Grown Weedery^™," developing it into a leading-edge facility to cultivate high-end organic cannabis products. Estrella Ranch has a long-standing history, was once owned by the King of Morocco and subsequently George Hearst, and is considered among the finest Ranches in California and the gem of the California Central Coast. Estrella Ranch is located in Paso Robles in San Luis Obispo County, halfway between Los Angeles and San Francisco, and is surrounded by hundreds of world-renown wineries. The Estrella Ranch location is being developed into the central hub for all LiveWire operations.

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 services for the state-wide distribution of these products in California. This includes developing and licensing high-quality organic cannabis-based products and services and creating the "Estate Grown Weedery^™" brand. 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 Ergogenics acquiring a stake in Makana Ola Farms?

The acquisition enhances LiveWire's portfolio with a sustainable cannabis cultivation partner and serves as a pathway for future growth.

How much equity is LiveWire Ergogenics acquiring in Makana Ola Farms?

LiveWire is acquiring a 4.99% equity position with an option for complete acquisition.

What are the financial implications of this acquisition for LVVV stockholders?

The acquisition strengthens LiveWire's operations but involves issuing 10 million restricted shares, which could dilute existing shareholders.

When will Makana Ola Farms be fully operational?

Makana Ola Farms is in the final stage of approval and will be fully operational shortly.

What is the location of Makana Ola Farms?

Makana Ola Farms is located in Humboldt County, California, a well-known region for high-quality cannabis cultivation.