DENVER – Drugs Man Applied sciences, Inc. (OTCQX: MDCL) (“Drugs Man Applied sciences” or the “Firm”) right this moment introduced that the Firm has entered right into a binding time period sheet to accumulate Colorado-based Dabble Extracts, an award-winning cannabis focus firm that makes a speciality of processing medical and leisure marijuana into premium-grade extracts.
Below the phrases of the time period sheet, the Firm can pay $3,750,000 for Dabble Extracts. The acquisition value will include $750,000 in money and 996,678 shares of frequent inventory priced at $3.01/share, which is the typical closing value of the Firm’s inventory for the 5 buying and selling days previous to August 6, 2019. The phrases can be referenced within the 8-Okay, which outlines the closing circumstances. The obligations of the Firm and Dabble Extracts underneath the time period sheet are conditioned upon the satisfaction or mutual waiver of sure circumstances, together with regulatory approval.
“The proposed acquisition of Dabble Extracts will additional improve our product portfolio, as it can carry the experience and distinctive extraction capabilities essential to create high-quality cannabis concentrates within the type of shatter and wax merchandise,” mentioned Mr. Andy Williams, Co-Founder and Chief Govt Officer of Drugs Man Applied sciences. “Josh marks the fifth business pioneer that we have now introduced within the span of three months to come back on board, which is a testomony to our imaginative and prescient in bringing the perfect and brightest to affix forces and compete in a quickly altering market. His background and mastery as an extraction technician will assist us create, produce and distribute a superior portfolio of merchandise. As a market chief, we consider it’s incumbent for the Firm to supply a complete and distinctive product providing in all market segments, and Dabble Extracts’ award-winning product line and distinctive and proprietary extraction course of definitely helps us meet this purpose.”
“We now have primarily pioneered our personal extraction course of and have grown by way of a grassroots strategy much like that of Andy’s expertise,” mentioned Mr. Josh Hindi, Founding father of Dabble Extracts. “The group at Drugs Man Applied sciences shares our imaginative and prescient for the long run, and this accelerates our development trajectory by making a complementary strategy on the forefront of the explosive alternative within the cannabis business. Our shatter is of the best high quality, and we’re one of many prime producers right this moment for concentrates, primarily based on the quite a few awards we’ve obtained. We’re excited to affix the group and consider this permits us to take an enormous step ahead in our enterprise as we mix our technical capabilities with the essential distribution capabilities that ought to enable us to go nationwide and worldwide sooner or later.”
For extra details about Drugs Man Applied sciences, please go to https://www.medicinemantechnologies.com.
About Drugs Man Applied sciences
Denver, Colorado-based Drugs Man Applied sciences (OTCQX: MDCL) is a quickly rising supplier of cannabis consulting companies, vitamins and provides. The Firm’s consumer portfolio contains lively and previous purchasers in 20 states and 7 nations all through the cannabis business. The Firm has entered into agreements to develop into one of many largest vertically built-in seed-to-sale operators within the international cannabis business. Present agreements will allow Drugs Man Applied sciences to supply cultivation, extraction, distribution and retail pharmaceutical-grade merchandise internationally. The Firm’s mental property contains the “Three A Gentle” methodology for cannabis cultivation and pending acquisition candidate MedPharm’s GMP-certified facility, which has the primary cannabis analysis license to conduct scientific trials in america. Administration contains a long time of cannabis expertise, a singular mixture of first movers in industrial cannabis and confirmed Fortune 500 company executives.
About Dabble Extracts
Dabble Extracts is dedicated to offering clients with probably the most flavorful merchandise whereas guaranteeing the highest quality in its creation and extraction strategies. Dabble seeks to redefine the business normal by providing high-quality shatters and waxes within the cleanest and purest type attainable with very minimal residue of the specifically formulated hydrocarbon solvent utilized in its product extraction. Dabble Extracts’ merchandise can at the moment be present in 60 dispensaries all through Colorado. Shatter is without doubt one of the most acknowledged concentrates, a strong substance that resembles a honey-colored glass shard. Wax is one other sort of marijuana extract, which resembles the feel of candle wax. Each extracts could be vaped and dabbed to be used.