Wealthcraft Capital Agrees to Acquire a Controlling Interest in a Third CBD Company
LOS ANGELES--(BUSINESS WIRE)--Wealthcraft Capital Inc. (OTC PINK: WCCP) ("Wealthcraft" or the "Company") is pleased to announce that it has entered into a third letter of intent to acquire a controlling interest in a Colorado-based CBD company. The intended acquisition is a company which formulates, manufactures and sells over 150 CBD products under its own brand and under white-label contract.
While the company’s CBD gummies have become it’s largest selling product, the company also sells CBD gel capsules, cream, capsules, suppositories, tinctures and pet products. Further, the company has developed a line of nano-encapsulated beverages including water, shots and coffee creamer.
“This transaction represents a partnership with a dedicated team of owners who have been successful in building production capability as well as a strong product brand,” said Robert Wilson, the newly-appointed CEO of Wealthcraft. “This transaction will be our largest acquisition to date and is expected to make a meaningful and immediate contribution to revenues and earnings.”
About Wealthcraft Capital
Wealthcraft Capital is a health and wellness company focused on acquiring private companies in the emerging hemp and CBD industry. The Company intends to acquire controlling interests in businesses with a view to becoming vertically integrated across; hemp cultivation and processing, CBD-based product production, branding, distribution and sales. Wealthcraft will work with these acquisitions as partners to develop wholesale markets, products and brands that can be introduced into the retail wellness market as well as patient-based facilities and clinics.
This Press Release contains certain “forward-looking statements” as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements reflect our current expectations regarding our possible future results of operations, performance, and achievements. Wherever possible, the Company has tried to identify these forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “expect,” “plan,” “intend,” and similar expressions. These statements reflect our current beliefs and are based on information currently available to us. Accordingly, these statements are subject to certain risks, uncertainties, and contingencies, which could cause our actual results, performance, or achievements to differ materially from those expressed in, or implied by, such statements. Further, the safe harbor provisions of the Exchange Act may not apply to an issuer that issues penny stock. These statements speak only as of the date of this press release. Actual results may differ materially from those indicated by such forward- looking statements as a result of various important factors. The Company does not assume any obligation to update any forward- looking statements to reflect events or circumstances after the date of this Press Release except as required by applicable law.