Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Acquired Sales to Acquire 100% of CBD Products Industry Specialist Lifted Liquids.

Document Cited in Related
Vincent

MANews-(C)2009-2019

29 May 2019 - US-based Acquired Sales Corp. (OTC: AQSP) has signed a letter of intent to acquire 100% of the ownership interests of CBD industry specialist Warrender Enterprise Inc. d/b/a Lifted Liquids, Zion, Illinois, for consideration of USD 7.5m in cash, plus 4,545,455 shares of Acquired Sales Corp.'s common stock, the company said.

Nicholas S. Warrender, Founder and CEO of Lifted Liquids, will continue as the CEO of Lifted Liquids under a long-term employment agreement, and Lifted Liquids will operate as a wholly-owned subsidiary of Acquired Sales Corp.

Closing of the acquisition is subject to a number of conditions, including completion of an acceptable due diligence investigation and audit of Lifted Liquids, completion of a capital raise of at least USD 9m by Acquired Sales Corp., execution of definitive acquisition documents, receipt of a tax opinion on the transaction, obtaining all necessary approvals, and the completion of all necessary securities filings.

The announcement of this acquisition comes less than three weeks after Acquired Sales Corp. announced a letter of intent to acquire 100% of rapidly growing CBD Lion LLC, Mundelein, Illinois, and plans to change the combined company's name to CBD Lion Corp to emphasise its vision to become the national leader in the CBD products industry.

Acquired Sales Corp. has already acquired 4.99% of rapidly growing CBD-infused beverage and products maker Ablis Holding Company, and of craft distillers Bendistillery Inc. and Bend Spirits, Inc. , Bend, Oregon.

Founded in 2015, Lifted Liquids was...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT