In addition to the Purchase Price, Unified will also be entitled to a one-time bonus payment (the “Bonus Payment”) based on the revenue and profitability of First Class in the 2020 calendar year. The Bonus Payment will be: (i) US$5,000,000, in the event gross revenue exceeds US$42,000,000 with a profit margin of at least ten percent; (ii) US$10,000,000, in the event gross revenue exceeds US$52,000,000 with a profit margin of at least ten percent; or (iii) US$15,000,000, in the event gross revenue exceeds US$62,000,000. The Bonus Payment will be payable in common shares of the Company (the “Bonus Shares”) based on an exchange rate of US$1.00 to C$1.30 and the greater of: (i) CFollowing completion of the Transaction, Unified will continue to assist with the management of operations of First Class, and will be entitled to the reimbursement of operational expenses along with a service charge of twenty percent. The Transaction has not resulted in a reverse takeover or fundamental change for the Company under the policies of the Canadian Securities Exchange, nor has it resulted in the creation of any new insider or control person of the Company. No changes to the board of directors, or management, of the Company resulted from completion of the Transaction..80; and (ii) the volume-weighted average closing price of the common shares of the Company on the Canadian Securities Exchange in the ten trading days prior to the last trading day of 2020. Any Bonus Shares issuable by the Company will be subject to the terms of the Pooling Arrangement, with applicable release dates calculated from the date of issuance of the Bonus Shares.
ON BEHALF OF THE BOARD OF DIRECTORS
Joel Shacker, Chief Executive Officer of the Company, commented “The acquisition of First Class is a milestone for the Company, and aligns with our goal of becoming a vertically integrated CBD brand. The revenue they generated in 2019 positions us to compete with the largest cannabis companies in the world, and the infrastructure they have in place is a key building block our organization can use to expand further in the US and Europe.”
About Mota Ventures Corp.
For further information, readers are encouraged to contact Joel Shacker, Chief Executive Officer at +604.423.4733 or by email at or www.motaventuresco.com
These are just a few qualities to consider, and as the news article smartly points out the more knowledge “the better” the purchase. So, as a consumer, take the time to independently research, do your due diligence, and learn as much as you can.
When the warning letters were sent out, the identities of the companies were unknown. But now, due to a public records request, it has been revealed that one of the companies is 4Bush Holdings, owner of magicgreenoildrops.com and firstclassherbalistcbd.com.
There are several strategies that consumers can try to use to find quality products. One news article by the Chicago Tribune on How to Find High-Quality CBD Oil identifies several qualities to look at, including:
Health claims made by CBD brands are a concern. According to a news report by WWD, the Food and Drug administration “been considering the safety of cannabidiol since its precursor hemp came off the Controlled Substances Act list last December, has now targeted claims about the ingredient’s potential health benefits.”
The warning letter states, in part, concerning 4Bush Holdings, “We strongly urge you to review all claims for your products, including consumer testimonials, and ensure that those claims are supported by competent and reliable scientific evidence.”
According to a news report by Hemp Industry Daily, the Federal Trade Commission has sent out warning letters to several companies about their CBD health claims.
All information is for general informational and educational purposes only. Nothing should be interpreted as legal or wellness advice.
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