ALCHEMIST SIGNS NON-BINDING LETTER OF INTENT TO ACQUIRE 40% STAKE IN CANNABIS EXPERIENCE SIGNATURE
December 19th, 2017, VANCOUVER, B.C. – ALCHEMIST MINING (“AMS”) is pleased to announce the signing of a non-binding Letter of Intent (LOI) for the acquisition of a 40% stake in the software application: Cannabis Experience SignatureTM, a mobile and web application that uses crowd sourced data to catalog the effects of various cannabis strains and products.
Cannabis Experience SignatureTM uses standardized reports from users though a proprietary touchscreen graphical interface. The result is an easy to understand infographic that serves as a product profile. These product profiles are currently being developed as subscription-based data products for the North American online and in-store retail industry.
Pursuant to the non-binding LOI, AMS will pay the vendors a total value of $200,000, with 50% of such payment to be in cash, and the remaining 50% of such payment to be in shares of AMS. AMS will acquire either a 40% interest in the entity owning the software, or a 40% interest in and to the software itself. The vendors are each at arm's length to AMS.
The acquisition of Cannabis Experience Signature is subject to AMS and the vendors entering into formal agreements with respect to the acquisition, and the satisfaction of closing conditions, to be negotiated. Such conditions will be in addition to AMS receiving all necessary approvals from the Canadian Securities Exchange. AMS cautions that there can be no assurance or guarantee that the parties will enter into a formal agreement with respect to the acquisition, that any closing conditions will be satisfied or waived, that it will receive all necessary prior approvals, nor that the acquisition will be completed at all.
ON BEHALF OF THE BOARD For further info on the Company, please email email@example.com.
On Behalf of the Board
Dave Gdanski, President/CEO
Alchemist Mining Inc.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results, including with respect to the proposed acquisition described above. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements, including that the aforementioned acquisition may not be completed as disclosed or at all. The Company disclaims any intention or obligation to revise or update such statements.Back to Past News