Vancouver, British Columbia--(Newsfile Corp. - November 14, 2018) - Weekend Unlimited Inc. (CSE: YOLO) (FSE: 0OS1), a lifestyle cannabis company, has provided additional details on its pending acquisition of Verve Beverage Company. Subject to completion of due diligence, Weekend Unlimited will issue 50 million shares to acquire 100% of the Verve Beverage Company and its Verve Energy and Champ Energy brands. The brands are held subject to a 20 year license which provides for a 3% royalty on sales.
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Verve, which is physician formulated and clinically studied, is positioned in the high growth energy drink category of the beverage market. Over a 7 year period, the company reported historical sales in excess of $230 million through direct to consumer sales.
In March, the Verve Energy Drink became the official energy drink of the San Jose Sharks. As part of the multi-year, exclusive partnership the SAP Center's concourse bar was renamed the "Verve Ice Bar".
Cody Corrubia, President & CEO, stated: "Through this acquisition, Weekend Unlimited will add the strength of a very popular brand in Verve Energy, that was undervalued due to its direct sales history, but has a tremendous following due to its quality and effectiveness. We have the opportunity to re-position the Verve brand and build it out in North America with an existing base of support. Securing the Champ Energy brand provides us an accelerated model to launch into CBD infused beverages and grow strong distribution relationships as a result of having both the Verve and Champ product lines."
The CHAMP CBD flavored water, based on a 7.3 PH Active water source, will contain water-soluble hemp oil, along with other minor phytocannabinoids such as CBG, CBN, CBC, and naturally present terpenes. Each 12 ounce bottle of CHAMP contains 27 milligrams of phytocannabinoids designed for optimum bioavailability. With CHAMP, consumers feel the beneficial effects of CBD along with the health benefits of a nanowater infused with more than 78 electrolytes, minerals, and glyconutrients.
Last week, the company announced another equity-based addition to its edibles product portfolio as the company executes on its strategy to build its flower, extracts and edibles verticals.
Cody Corrubia added: "The acquisition of Canna Candys and Canna Medibles will provide Weekend with strong products within each of the categories we are focused upon, flower, extracts and edibles. Canna Candys are a CBD product while Canna Medibles are a THC product. The operations team is experienced, having built distribution in Southern California to 380 retail stores."
In addition to building its portfolio of brands in North America and internationally, the company has cannabis operations in Washington State and British Columbia.
For more information, please visit the company's website at www.weekendunlimited.com or contact investor relations at 236-317-2812 or email [email protected]
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