VANCOUVER: Thoughtful Brands Inc. announced the completion of its acquisition of Golden Path LLC and Wild Mariposa LLC, both are privately held fast-growth, direct-to-consumer eCommerce brands selling natural health products in the United States.
The Company has acquired Golden Path and Wild Mariposa pursuant to purchase agreements entered into with the respect members of Golden Path and Wild Mariposa, dated effective August 19, 2020. In consideration for acquisition of all of the outstanding membership interests in Golden Path and Wild Mariposa the Company has issued 11,544,400 common shares and 15,055,600 common shares, respectively.
The Consideration Shares were issued to the existing members of Golden Path and Wild Mariposa at a deemed price of Cdn$0.195 per share.
The acquisitions will expand Thoughtful Brands’ portfolio in the nutraceutical and hemp based CBD product space. The Company already has a roster of established and successful hemp-CBD brands including Nature’s Exclusive in North America and Sativida in Spain and Mexico.
Golden Path and Wild Mariposa products are all carefully crafted based on market demand and product quality. Every product is also third-party tested for purity and manufactured in the United States in GMP certified facilities.
Golden Path and Wild Mariposa are current clients of Unified Funding, LLC, which performs a number of eCommerce operations for Thoughtful Brands. In June, the Company entered into a binding term sheet to acquire the Unified eCommerce platform, signifying another key strategic growth initiative.
This allows Thoughtful Brands to continue to grow its health products business more rapidly on an international scale, tapping into entering new natural health markets and developing new products.
“Thanks to our relationship with Unified, our eCommerce and technology abilities are first rate. These brands not only complement our existing natural health product lines but position us for continued growth and advance our Company as a leader in the space,” said Ryan Hoggan, CEO of Thoughtful Brands.
“An increased focus on consumer brands and expanding our market footprint constitute our core strategies and growth trajectory at Thoughtful Brands. These two acquisitions come on the heels of several strategic acquisitions which are key to our larger goal to reach new customers internationally and increase eCommerce capabilities.”
Among other recent accomplishments, Thoughtful Brands recently announced a European expansion through a joint venture with Franchise Cannabis Corp. Through this partnership, Thoughtful Brands will sell and market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the UK, utilizing its well-established eCommerce platform.
The Company is at arms-length from each of Golden Path, Wild Mariposa and their respective members. The transactions do not constitute a fundamental change for the Company, and have not resulted in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. The Company has paid an administrative fee of 266,000 common shares of the Company to a consultant who assisted with the transactions.
Thoughtful Brands Inc. is an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe. Through continuous strategic acquisitions, the Company has a strong footprint in the CBD market, as well as the burgeoning psychedelic medicine sector.
Thoughtful Brands owns and operates a 110,000 square foot pharmaceutical manufacturing facility in Radebeul, Germany, where its highly skilled team conducts clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction, while planning for future opportunities to create proprietary psilocybin products.
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