PALM BEACH, Florida, April 11, 2017 /PRNewswire/ --
As emergingcompanies and cannabis innovators continue to acquire, develop and produce new uses for various forms of cannabis, CBD-oils and hemp-infused consumer goods, the lifestyle avenue of cannabis-infused products is creating unique opportunities in the industry
Turbo Global Partners (TURBO) trading as DIBZ International, Inc. (OTC: DIBZ), has announced it has signed a Letter of Intent to acquire 100% of Indica Islands Company (INDICA), growers-producers and processors of Medical Marijuana 'MMJ', Cannabinoid products, and Hemp-infused Vodka. INDICA is an operating division of Island Capital, Inc. Read this and more news for DIBZ at: http://marketnewsupdates.com/news/dibz.html
Robert Singerman, CEO of TURBO, states, "When we announced recently that we had formed a Medical Marijuana Business Unit, our plan was at a minimum to seek a joint venture partner who is an operating grower-processor of MMJ, Hemp and Cannabinoid products. After months of due diligence, we have a signed a Letter of Intent to acquire one of the premiere companies in the emerging MMJ industry. Without question, INDICA (http://www.IndicaIslands.com) is one of the top-tier companies in the space. INDICA owns 1,000 acres in Kentucky for their MMJ grow and processing operations and the INDICA Hemp-infused Vodka brand is produced by a Master distillery in Pikeville County in Eastern Kentucky. Our acquisition is scheduled to close mid-May, 2017 whereby INDICA will become a wholly-owned subsidiary. And the best part, INDICA is already generating revenues which meet our core objective of long-term predictable renewal cash flow."
"It is a historic moment for INDICA to be acquired by TURBO," states Patrick R. Thomas, Vice President and Director of Operations for Island Capital, Inc. He continues, "This is a win-win for all parties both in the near-term and long-term. INDICA has created predictable long-term recurring revenue in one of the fastest growing industries in the U.S., but INDICA also intends to maximize TURBO's synergies in the near-term helping the INDICA brand better reach discerning consumers of MMJ, Cannabinoid products and of course our Hemp-infused Vodka."
In other industry related market performances of note and developments:
Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE:ATT.CN) closed up over 19% on the OTC Markets on Monday, trading over 4.8 Million shares by the market close and also closed up over 19% on the CSE Canadian Market, trading over 6.1 Million shares by the market close. Abattis Bioceuticals announced yesterday the appointment of Robert Abenante as President and Chief Executive Officer of the Company.
UbiquiTECH Software Corp. (OTC: UBQU) closed up over 18% on Monday, trading over 18.5 Million shares by the market close. Ubiquitech Software Corp., through its subsidiary HempLife Today™, an innovative and growing Company offering the finest CBD (Cannabidiol) products derived from Hemp, announced last week that it is giving away a free trial pack of six (6) CannazALL™ CBD GelCaps to all existing shareholders, their families and friends.
mCig, Inc. (OTCQB: MCIG) closed up over 5% on Monday trading over 1.9 Million shares by the market close. mCig, Inc. manufactures, markets, and distributes electronic cigarettes, vaporizers, and accessories under the mCig brand name in the United States. It also provides VitaCig Excalibur capsule system.
Cannabis Science, Inc. (OTC: CBIS ), a U.S. company specializing in the development of cannabis-based medicines, announced this past Friday that it will file a 25 million USD offering memorandum to accommodate an aggressive expansion plan; the Company expects to file next week. The Company has been reviewing investment firms that have expressed interest in its business model and similar humanitarian interests. With this new growth plan the Company is now looking for a corporate office in NYC to facilitate its financing initiatives and its east coast expansion plans.
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