Wee-Cig International Corp. Signs Definitive Agreement to Acquire Controlling Interest in The Jamaican Brew House
Wee-Cig International Corporation (WCIG) announced a definitive agreement to acquire a controlling interest in The Jamaican Brew House (JBH), which has developed a patent pending cannabis-based liquid base for food and beverages. This acquisition marks Wee-Cig's entry into the cannabis sector, with JBH expected to begin commercial sales in fiscal 2023. Key personnel changes include Efraim Babayov resigning and Ruben Yakubov being appointed as Chairman of the Board. Erin Winczura will take on multiple roles, including CEO. The deal is set to close by February 10, 2023, and involves issuing 19,440,000 unregistered shares to Yakubov and Winczura.
- Acquisition of The Jamaican Brew House presents new revenue opportunities in the cannabis market.
- JBH's patent pending technology may offer unique product differentiation in food and beverage applications.
- Experienced leadership from JBH could enhance operational efficiency and market entry.
- Integration challenges may arise given the acquisition involves a shift in company direction.
- Issuance of 19,440,000 unregistered shares could lead to potential shareholder dilution.
LAS VEGAS, NV, Feb. 06, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Wee-Cig International Corporation (OTCMarkets: WCIG) (the “Company”, “Wee-Cig”), a company focused on identifying and growing top tech companies in emerging markets, today announced that it has entered into a definitive agreement for the acquisition of a controlling interest in The Jamaican Brew House.
The Jamaican Brew House (“JBH”) has pioneered development, through a patent pending technology, of a neutral liquid base made from cannabis that can be used in a range of food and beverage applications. JBH plans to begin commercial sales of its products in fiscal 2023.
With this acquisition, management is eager to enter the cannabis industry with such a strong and innovative partner. The Jamaican Brew House team, including leaders in sales, marketing, food processing and corporate advisory bring their deep industry knowledge to our operations.
"We are excited to announce entry into a definitive agreement to acquire a controlling interest in The Jamaican Brew House,” said Efraim Babayov, President of Wee-Cig International Corporation. “Kickstarting commercial sales for The Jamaican Brew House products is expected to be the focus of Wee-Cig in 2023. I believe this acquisition will provide tremendous value to our company and shareholders."
Concurrent with the closing of the definitive agreement with JBH, Mr. Efraim Babayov, sole officer and director of the Company will resign all positions, and Mr. Ruben Yakubov shall join the Board of Directors of the Company, as a director and Chairman of the Board along with assuming the role of Corporate Secretary. Ms. Erin Winczura, sole officer and director of JBH, shall be appointed Chief Executive Officer, President and Treasurer as well as to the Board of Directors of the Company. Closing is expected to occur no later than February 10, 2023. Under the terms of the definitive agreement, each of Mr. Yakubov and Mrs. Winczura, and their controlled entities, will receive a minimum of 19,440,000 unregistered, restricted common shares of Wee-Cig.
Ruben Yakubov, graduated in 1994 as an economist from Kazakhski Chimiko-Technologitcheski Institute in Chimkent, Kazakhstan. Mr. Yakubov has been working as an economist and financial advisor in various business and financial sectors for almost 20 years. Mr. Yakubov served as a director at Kazstroyservice ("KSS") for 15 years. KSS is a reputable operating company based in Kazakhstan, which specializes in project delivery services. Its targeted services included a focus on both construction and infrastructure for oil pipelines, oil refinery plants and on-shore/off-shore infrastructure for the oil and gas industry. More recently, in the last 4 years Mr. Yakubov has continued his advisory role focused on providing independent private and public corporations with strategies for growth and development of commercial or near commercial products and technologies.
Erin Winczura, is the Founder and CEO of Canterbury Group, a North American and Caribbean focused financial institution based in the Caymen Islands, with expertise in consumer product brands and mining. Mrs. Winczura has founded three companies in the consumer product space including Ennoble beverages, an innovator in the flavored malt beverage (FMB) space, and more recently, The Jamaican Brew House with its patent pending technology. Winczura holds a B.A. in economics and political science, as well as an additional bachelor’s degree in commerce, with a bias in finance, from Universitat Ramon Llull.
About Wee-Cig International Corporation
Wee-Cig International Corporation is a publicly traded holding and acquisition company (WCIG) with a particular talent in identifying top tech companies in emerging markets and helping them get to the next level. Constantly scouring the technology landscape to find the best investment opportunities, Wee-Cig targets companies that capitalize on unique opportunities by leveraging extensive, decades long industry relationships and management expertise. For more information, visit: https://weecigcorp.com/
For media inquires contact:
Wee-Cig Media Relations
media@weecigcorp.com
FAQ
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