Captiva Verde Land Corp. (PWR:CSE) announced in a news release it entered an agreement to acquire Miss Envy Design Group for 8 million shares.
Miss Envy designs and formulates CBD and related products and won a first place High Times Cannabis Cup award for two of them, a topical and a CBD concentrate, in 2017. The company's base of subscribers and supporters totals about 11,000.
The deal encompasses the global rights to all of Miss Envy's intellectual property, brands, product formulations, manufacturing, marketing, sales and distribution.
Captiva, which invests in assets in cannabis, among other verticals, will pay the 8 million shares to Miss Envy in these tranches: 2 million shares when product sales start anywhere in the world, 2 million shares when $5 million in sales is achieved and 2 million shares on every subsequent $5 million in sales until the 8 million shares is reached.
"The broader Captiva Verde shareholders have used many of the different Miss Envy designed products, and all feedback from this personal experience has been positive," the release noted. "No other product has met the success rate with our shareholders."[NLINSERT]
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