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CannaOne Technologies to Acquire Ownership of Real Life Sciences for CDN 2m
Tuesday 10 September 2019

10 September 2019 - Canada-based cannabis e-commerce technology company CannaOne Technologies Inc. (CSE: CNNA) (OTC: CNONF) (Frankfurt:3CT) has entered into a letter of intent (LOI) to acquire 100% interest in Real Life Sciences Inc., the company said.

Under the terms of the LOI, CannaOne Technologies has agreed to purchase Real Life Sciences for CDN 2m (USD 1.5m), such payment to be made in full through the issuance company shares priced at a 20% discount to the market as at the date of closing set for October 25, 2019.

CannaOne Technologies partnered with Real Life Sciences to launch and operate the BWell CBD online marketplace in the US.

Under the terms of this agreement Real Life Sciences acted as local managing partners for the BWell online marketplace providing strategic management, financial and business development expertise.

As the managing partner of the BWell Marketplace, Real Life Sciences maintained a 75.1% ownership interest.

CannaOne Technologies said Real Life Sciences' expertise, vast network and strong relationships within the US has brought substantial value to the BWell marketplace during the past months and has been a key factor in the early launch for the business.

BWell is now capable of immediate sale and delivery of 140 high quality CBD products at extremely competitive prices to thousands of potential households in US. We believe that this infrastructure and knowledge contributed by Real Life Sciences provides substantial baseline support toward the company.

CannaOne Technologies is a software development and technology company that has developed a proprietary online e-commerce marketplace solution linking the CBD industry to consumers.

In June 2019 CannaOne launched BWell in the United States, facilitating the sale of a large selection of premium CBD products from numerous suppliers to consumers. The platform includes an infrastructure to build consumer engagement including an AI capacity to recommend products and fulfill orders.

CannaOne has secured contracts with underlying expectations to launch further marketplaces in Mexico and the UK marketplace in the next 6-12 months.

The company's overall vision is to provide comprehensive online solutions for the industry globally and is now well-positioned to offer industry suppliers with a premium, turnkey technology platform for their CBD products.
Date Published: 10/09/2019
Target: Real Life Sciences Inc
Country: Canada
Deal Size: 1.5m (USD)
Sector: Consumer Products
Type: Corporate acquisition
Status: Agreed
Buyer: CannaOne Technologies Inc
Terms of the deal were not disclosed