TULSA, Okla.--(BUSINESS WIRE)--CAVU Resources, Inc. (OTC Markets: CAVR) announced today it has closed a stock purchase agreement to buy 100% of the outstanding common shares of kushAmerica, Inc., www.kushAmerica.com and http://www.itssoku.com, (“KUSH”), an entertainment company that has developed an unique marketing app in the Cannabis and Entertainment space.
KUSH has developed a proprietary mobile app that unites legal consumers, advocates, enthusiasts and businesses with access to each other through chat and information platforms in an effort to be the go to space in the industry, all with the endorsement of music and entertainment industry leaders. As a result, KUSH will be bringing a distribution network of informed, enthusiastic, and creative Street Team Marketers to concerts, movie showings, local bars, clubs, coffee spots, dispensaries and campuses. KUSH Marketers will spread the word, to drive the masses to the KUSH mobile app download, creating what KUSH management forecasts to be one of the fastest growing cultures in the country. Beta registration and testing has commenced. The app is scheduled for limited launch on April 20, 2019.
Mr. Robert Silver has been appointed Chairman and CEO. Mr. Silver, the founder of KUSH, has a strong background in the entertainment industry. He has worked with several NFL stars, music acts and artists. Mr. Silver has recently produced his own reality show called Cowboy ALL IN, partnering with STX (Legendary Pictures) at the time of this press release. Additionally, Mr. Silver currently manages a 10-year-old actor who stars on the hit CBS show Young Sheldon, as well as one of the top in-house producers in music today. Mr. Silver creates and inspires, bringing his vision to reality.
Robert W. Demes has been appointed President and COO. He is also the founder of The Elite Growers (www.theelitegrowers.com), premier growers of very potent medical marijuana. View The Elite Growers mission here: www.theelitegrowers.com/mission. Over the last 35 years Mr. Demes has been a key figure in deploying financial and business skills for a number of companies that range from small business startups to established publicly traded entities in a myriad of business sectors. During his career, he helped deploy capital for many industries including technology, oil and natural gas, heavy equipment infra-structure, and international trade. Mr. Demes has also developed residential and commercial properties throughout North and South America. A former political dignitary for Latin America, Mr. Demes was responsible for generating hundreds of millions of dollars in trade on behalf of Costa Rica.
In summary, the terms of the KUSH Acquisition bring a new life and opportunity to CAVU (OTC Markets: CAVR). CAVU will increase its authorized common shares to 1.5 Billion as part of the transaction. The acquisition has been structured to provide value to both current and future shareholders. CAVU is issuing 500,000,000 (five hundred million) shares of Restricted common stock and converting all of its Preferred shares into common stock. KUSH will become a Nevada C corporation and be a wholly owned subsidiary of CAVU.
In preparation for this transaction and to complete the restructuring of the company CAVU has accelerated efforts in cleaning up the balance sheet. Former CEO William Robinson converted $536,708 of convertible note balance, valued at $0.015 (a penny and a half), into 35,780,536 of restricted common shares; and CFO Mike Sheikh’s $121,908 convertible note balance, also valued at $0.015 (a penny and a half) was converted into 8,127,222 of restricted common shares, demonstrating that the company continues to eliminate its debt at a significant premium to market. The company will also be converting all of its outstanding Preferred A and B shares into 127,500,000 common shares.
“New management is confident in its ability to execute and to achieve long term shareholder value. We hope our shareholders realize that we take our fiduciary responsibility very seriously. This means that we will use the same lens when evaluating future acquisitions. Mr. William Robinson will also be resigning as CEO to pursue other opportunities. We plan to secure conventional funding sources to allow us to close high growth acquisitions that should bring an unrealized value to our shareholders. We are very excited about being in a position to report the Company's new progress. We believe this acquisition as well other targeted acquisitions in the technology related and delivery systems of cannabis products will become a showcase for the low risk opportunities that requires less capital, while bringing potential exceptional returns to CAVU shareowners.”
Thursday May 2nd 2019:
To All $CAVR shareholders, I want to recap where we are today and tell you where we are headed.
kushAmerica is now a wholly owned subsidiary of $CAVR. Kush Shareholders took an all restricted equity deal at $.006 because $CAVR was short on funding. As part of the deal all preferred shareholders were converted to common stock leveling the playing field for everyone. All the debt of the company was converted to common restricted shares at $.015 (when the stock was $.006), which was meant to demonstrate that old management was serious about building a great company.
The company had been inactive with no assets for a number of years and over the last 6 months had been trading in the $.006 range on basically “thin air”. So frankly I do not understand why the sell off is occurring; The company now has an excellent asset in the hottest space in the market, Cannabis Technology see more about the company here, https://cavuresource.com/about/ and a wonderful, motivated and experienced management team (who are also common stock shareholders) see more about the team here, https://cavuresource.com/management/ We will be updating the investor news page on the website on a regular basis: https://cavuresource.com/investors/
As to acquisitions, we are considering one at this time that will be complimentary to the information and entertainment space that we’re in now. Once cannabis becomes deregulated we will become vertically integrated including growing, processing, retail sales and clubs, all of which I have enormous experience in.
As we make progress in all of these areas we will be reporting on this page and occasionally through press release channels. Always remember that your management team is common stock shareholders also!
MAY 24TH 2019
Follow CEO on Twitter @itsSoKu
Follow COO on Twitter @KushCOO
Follow CTO on Twitter @ShaunyFuller
Enlightening interview by new CAVR CEO released earlier this week:
CAVU Resources, Inc. announces SHAREHOLDER–INVESTOR CONFERENCE CALL WITH INCOMING CEO ROBERT SILVER
Las Vegas, NV, June 5, 2019 (PR-Newswire) — CAVU Resources, Inc. (OTC Markets: CAVR) announced today that incoming CEO, Robert Silver, the creator of www.kushAmerica.com and (http://www.itssoku.com), (“KUSH”), an education information, research and entertainment company that has developed an unique marketing App and platform in the Cannabis Information and Entertainment space, will layout his vision for the future direction of the company in the hottest space in the market today.
Hosting the call will be Robert Silver, Chief Executive Officer; Robert Demes, Chief Operating Officer and Toi Hershman Director of Public Relations. The conference call will be broadcast live on the Zoom Platform.
Join Zoom Meeting
Tuesday, June 18th 2019
CAVU RESOURCES, INC. ANNOUNCES APPLICATION FOR NEW SYMBOL AND THE RELEASE DATE OF ITS’ APPLICATION SOKU
GlobeNewswire•June 18, 2019
LAS VEGAS, June 18, 2019 (GLOBE NEWSWIRE) — CAVU Resources, Inc. (OTC Markets: CAVR) announced today that the company has applied for a new symbol “KUSH”, which is more reflective of the company’s new direction in education, information, research and the entertainment space of the Cannabis Industry.
The response and results from our closed Alpha Build begun on 420 were overwhelmingly positive. The company plans an August 15th Beta Launch of its’ SoKu (Social Kush) application in conjunction with its University Ambassador strategy in several markets on the West Coast. The App is designed to connect Cannabis users locally and around the world, “Chat, Connect, Chill”. http://www.itssoku.com/
The company has also begun the interview process to select a regional accounting firm to provide audit services for 2017, 2018 and the current year to date 2019. Once the work is completed the company will start the procedure of up-listing to OTCQB.
CAVU RESOURCES, INC. IS PLEASED TO ANNOUNCE THE OFFICIAL SOKU BETA LAUNCH REGISTRATION PORTAL (WWW.CHATCONNECTCHILL.COM) AND SELECTION OF EUGENE, OREGON FOR THE OFFICIAL SOKU LAUNCH, OCTOBER 5
GlobeNewswire•August 15, 2019
LAS VEGAS, Aug. 15, 2019 (GLOBE NEWSWIRE) — CAVU Resources, Inc. (OTC Markets: CAVR) is pleased to announce the official launch of the SoKu™ Beta Registration Portal (www.chatconnectchill.com). Developed by kushAMERICA, SoKu is the first iOS and Android gamified chat and social networking app for the Kush enthusiast.
The registration portal, “OPEN TODAY” at 5 PM (EST), is for those interested in being part of the SoKu Beta Launch in and around Eugene, Oregon. Once registered, Beta users will be informed about the process and expectations for Beta. Additionally, testers will receive “Beta Exclusive” SoKu Swag.
The SoKu Oregon Launch Event is scheduled for October 5, 2019 at the Steam Lounge located at 165 West 11th avenue in Eugene, Oregon. The event will include a live DJ, special celebrity guest appearances, and brand ambassadors.
“I am extremely excited to see kushAmerica launch their SoKu app in the home of my Oregon Ducks.” – Ed Dickson, Seattle Seahawks
Since kushAMERICA was acquired four months ago, we could not be happier. We are ahead of our development schedule with exciting partnerships and potential acquisitions on the horizon. We wish to thank our shareholders for their steady support and continuing vision. More to come very soon . . .
Upcoming Live Webinar with CAVU CEO Robert Silver
September 12, 2019 12:42 ET | Source: CAVU Resources, Inc.
LAS VEGAS, Sept. 12, 2019 (GLOBE NEWSWIRE) -- CAVU Resources, Inc. (OTC Markets: CAVR) is inviting shareholders to the upcoming live webinar with CAVU CEO Robert Silver on Thursday, September 19rd at 4:15 pm. During the call, Mr. Silver will share the excitement and success of the SoKu mobile app beta campaign, the anticipation and fervor around the upcoming October 5th SoKu Beta Launch in Eugene, Oregon, and the EARLY RELEASE of the kushAMERICA Cannapreneur Accelerator platform.
The kushAMERICA platform is positioned to be the world’s leading Cannapreneur Accelerator providing cannabis related entrepreneurs and start-ups with data smart technology and brand exposure promoting offerings and driving market validation. Companies gain insights around customer preferences and behaviors, campaign effectiveness, promotions and customer retention while building market acceptance and a connected and engaged community around their brands. This traction provides an opportunity and pathway for companies to raise up to one million in operating capital through kushAMERICA’s crowdfunding campaign arm.
kushAMERICA/SoKu is also pleased to announce we have achieved or surpassed all our strategic goals including, product development and operations. kushAMERICA, as planned, has recruited and added a social media strategist millennial to its team. The social media strategist, effective September 15th, will launch 2 tweets @itssoku and 5 Instagram @itssoku posts per day helping to build the kushAMERICA social community and brand.
We hope you can join us for the webinar; the conference details are below. This is an exciting time for CAVU shareholders as we are moving forward ahead of schedule with our platform and app, each driving the value of our company in a positive direction.
Meeting Schedule: Thursday, October 19th at 4:15PM Eastern. Click here to join the meeting or use meeting details:
Dial by your location
+1 929 205 6099 US (New York)
+1 669 900 6833 US (San Jose)
Meeting ID: 519 238 080