The producer of Cannabis infused products INDVR Brands is pleased to pronounce its entry into a definitive Asset Purchase Agreement with Bronnor, Corp and the Nevada-based Strainz. The company makes the announcement together with INDVR Brands U.S., which happens to be its wholly-owned subsidiary located in Colorado. This definitive Asset Purchase Agreement entitles INDVR Brands to all the assets belonging to the two companies.
Terms of the deal
However, external forces must come into play. For example, the regulators will decide on whether or not they approve the deal in question. The parties will also b looking o complete some particular asset schedules as part of the conditions before the deal comes to a close. Sources indicate that the transaction will come to a close on a date that the parties will agree upon, which is how things work out most of the time in such deals.
The terms of the APA have some particular provisions guiding the new acquisitions. For example, INDVR Brands will acquire a cannabis manufacturing and processing plant situated in Denver. Sources show the facility as capable of producing tinctures, edibles, concentrates, vapes, soft gels, and some wide-ranging cannabinoid products.
The other move will be about the company gaining access to a distribution platform with more than 500 dispensaries spread across Nevada and Colorado.
Mann speaks out on the company’s progress
The CEO of INDVR, Joshua Mann, considers the latest deal to be a milestone relationship. He points to the Strainz processing license as a significant achievement for the company. The official wants the company to expand its award-winning portfolio of adult-use cannabis products and believes that the 7Sacred™ brands and the Bullet Concentrates™ will play a significant role.
The official also looks forward to seeing how things play out after adding HEMP-derived products to its portfolio. The latest agreement is a significant shift that allows the company to prove to its shareholders the far it is willing to go to ensure they benefit. Market observers have applauded the company for expanding to become a fully licensed cannabis-infused products operator, hoping that it continues upholding its business dedication in Colorado.
