Mota Ventures Corp. Enters Into Letter of Intent with Premier European Certified Organic and Ecological CBD Company Sativida
Mota Ventures Corp. (CSE:MOTA, FSE:1WZ:GR, OTC:PEMTF) (the “Company”) is pleased to announce that it has entered into a Letter of Intent (the “LOI”) dated December 13, 2019, with VIDA BCN LABS SL (Spain) and Sativida OU (Estonia) (collectively, “Sativida”) under which the Company will explore a potential acquisition of the business of Sativida. Sativida is a producer and online retailer of cannabidiol (“CBD”) and branded CBD products in various jurisdictions in Europe, including Spain, Portugal, Austria, Germany, France and the United Kingdom.
Since inception in 2016 Sativida has grown revenues month over month on average 20%, and anticipates further significant growth through 2020. Mota Ventures’ expects to provide Sativida with contacts to distributors and partners across Europe and North America to allow for rapid expansion of the Sativida brand, as well as logistical and financial support.
Sativida currently develops and retails a vast range of organic CBD oils and cosmetics across Europe and is in the process of expanding its distribution network internationally to include the United States. It has become the number one search-ranked online retailer in Spain and Mexico and intends to continue its expansion into other countries in Europe and Latin America.
As a result of Sativida’s high quality formulations, it has won multiple awards for product quality in Europe. Known for its minimal heavy metal content and accurate CBD levels, Sativida is among the most well-respected CBD brands in the European market place. Its unique approach to customer education has allowed it to replicate its marketing strategy across multiple countries.
Joel Shacker, Chief Executive Officer of the Company, commented, “With the addition of Sativida to the Company’s portfolio, we continue to increase shareholder value by bringing on companies that have existing revenue. The synergies that will be created between Ihuana SAS and Sativida will provide a runway for increased revenue, and sustainable growth. Additionally, this acquisition would allow the Company to develop as a vertically integrated business with international reach. We expect this acquisition to be the cornerstone for our entry into the European CBD market.”
Noah Laith, CEO of Sativida remarked, “We are excited about the opportunity to work with Mota. An acquisition will give us access to experienced cannabis and finance industry teams, allowing us to scale up growth. With this acquisition, we will have access to the capital and resources required to achieve our goal of becoming a leader in CBD production and retail across international markets.”
The final terms and structure for a transaction between the Company, and Sativida, have not yet been finalized. Completion of any transaction with Sativida remains subject to negotiation of definitive documentation, completion of customary due diligence and receipt of any required regulatory approvals. The Company will provide additional information regarding a transaction with Sativida as it becomes available.
About Mota Ventures Corp.
Mota Ventures is seeking to become a large-scale vertically integrated low-cost producer and exporter of the highest quality CBD products worldwide. The 2.5 hectare site located in Colombia has optimal year round growing conditions and access to all necessary infrastructure. The site is located approximately 2 hours outside of Bogota, 20 minutes away from the free trade zone and 30 minutes away from the international airport. Phase one will consist of a state of the art 60,000 square foot greenhouse with the capacity to produce more than 14,000,000 grams per year along with build out of the Company’s extraction facilities. The Company will focus on CBD extraction to produce pure raw CBD, with the goal to make value added CBD products and create its own brand to be sold internationally.
Sativida is a producer and online retailer of cannabidiol (“CBD”) and branded CBD products in various jurisdictions in Europe, including Spain and the United Kingdom. Since inception in 2016 Sativida has grown revenues month over month on average 20%. Sativida currently develops and retails a vast range of organic CBD oils and cosmetics across Europe and is currently expanding its distribution network internationally. For more information on Sativida, readers are encouraged to review their website, www.sativida.com
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, Chief Executive Officer at +1.236.521.2177 or by email at IR@motaventuresco.com or www.motaventuresco.com
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated business activities of the Company and the reliability of third party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include the results of a due diligence investigation of the business and operations of Sativida, and the final structure chosen for any transaction. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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