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Ultimate Sports plans to acquire Sannabis, a licensed medical marijuana company in Colombia. Shareholders of View Systems (VSYM) will receive 0.002 shares of Ultimate Sports (USPS) for each VSYM share held as of June 30, 2022. This acquisition aims to enhance the medical cannabis offerings under USPS, promoting growth in the market. View Systems is finalizing its 10K reports and has seen increased interest in its ViewScan detection products amidst rising security concerns. Further details on the acquisition will be disclosed later.
Sannabis has received approvals from Colombia's Ministry of Agriculture for its Seed Bank Facilities, advancing towards a Cannabis Seed Use License. The company has developed a new non-THC essential oil aimed at the food and beverage sector, enhancing products with unique Cannabis flavors. Sannabis is positioned to supply hempseed oil and cannabis flavorings, capitalizing on a growing demand in the FMCG sector, particularly after PepsiCo launched hemp-infused drinks. President John Campo anticipates significant market potential, as Colombian cannabis can be produced at scale and affordable prices.
Sannabis S.A.S. announces the approval from the Colombian Institute of Agriculture (ICA) for its Seed Bank Facilities in Popayán, allowing the company to produce certified cannabis seeds. The approvals enable commercialization of psychoactive and non-psychoactive strains, with studies beginning to certify ten seed varieties, including those for hemp building materials. These developments position Sannabis to cater to new markets as cannabis legalization expands globally. The company aims to leverage its certified genetics to establish relationships with international players in the cannabis industry.
View Systems, Inc. (VSYM) has declared a dividend for shareholders of record on February 19, 2021, granting 1 share of View Systems International, Inc. (VSII) for every 10,000 shares held. The company reported gross revenues of $12.25 million and a gross profit of $6.73 million, showing a healthy 55% profit margin. ViewScan, the company's flagship product, continues to gain interest for thermal detection upgrades. Additionally, View Systems is finalizing the acquisition of Sannabis S.A.S., a Colombian cannabis company, to further diversify its product offerings.
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