Cannabis Global Inc.
On 6/20/2019 MCTC filed an 8K and issued a press release announcing a change in control and business. A new CEO and 2 new Directors have been appointed and the company name is to be changed to Cannabis Global, Inc.
New management has extensive knowledge of the Cannabis Industry and have been involved with other tickers like NUGS, MCOA and SGMD. All of which had major runs.
Link to the 8K: https://www.otcmarkets.com/filing/html?id=13499749&guid=ey4xUnnQ9HmFi3h
Link to the Press Release: https://www.otcmarkets.com/stock/MCTC/news/story?e&id=1381683
About Cannabis Global Inc
Cannabis Global, Inc. is a global player in the fast growing and highly lucrative cannabis marketplace headquartered in bustling Downtown Los Angeles, California. The Company will be involved in both the industrial hemp markets, where permitted and legal under the 2018 Farm Bill, and the legal marijuana markets as permitted and licensed by way of various state and local laws and regulations.
Some of our projects involve: hemp cultivation of up to 100 acres, unique powdered cannabis drinks product line and intellectual properties including patents and trademarks.
Focused on Innovation.
Cannabis Global Inc. is focused on multiple growing verticals within the global cannabis & CBD industry. This is accomplished through partnerships, acquisitions, and intellectual property.
The reorganized operations will concentrate initially on three major growth areas of the cannabis marketplace: 1) California hemp cultivation, 2) Unique powdered cannabidiol (CBD) and Tetrahydrocannabinol (THC) centric cannabis beverages based on proprietary nano-emulsion technologies targeted at the mass consumer and California recreational markets, and 3) several unique cannabis centric intellectual property development and patents.
Management believes the Company holds a unique set of technologies, a vertically integrated supply chain, exceptional managerial skills, and established access to California cultivation, manufacturing and retail licenses that will allow it to move quickly into some of the fastest growing markets within the overall cannabis sector.
Hemp Cultivation - The Company is in the process of entering the hemp cultivation business via a cultivation operation in Riverside County, California. While hemp cultivation in states such as Colorado, Kentucky, and others, began in earnest last year, cultivation within California has lagged for various reasons, mainly permitting and licensing issues. Land preparation is already underway in conjunction with a landowner in possession of licenses and permits. Management believes there are several advantages of cultivating hemp at the chosen Southern California site, such as an extended growing season, optimal latitude location and most importantly, grandfather water rights with established high volume water wells. The Company plans to release additional information about the hemp cultivation operation over the coming weeks. CEO, Arman Tabatabaei, commented, "Not only have we secured prime land with an abundant of water rights, we have also secured a highly experienced cultivation team that is already on site. With what we think is optimal weather for hemp cultivation and seeds with top-notch genetics, we plan on achieving a result that most hemp cultivators in North America will have a difficult time accomplishing - year round cultivation of high CBD hemp strains."
Powdered CBD Centric Drinks - The Company plans to enter the market for powdered drink mixes that contain CBD and other non-psychoactive cannabinoids. The initial product launch will be for "White Label" products produced for established cannabis brands and retailers. The powdered drink lines will be based on proprietary nano-emulsion technologies that almost completely masks the taste of cannabis and provides higher bioavailability compared to other infusion methods. The Company is planning an initial product launch with six product SKUs. The Company owns all of the necessary equipment and raw materials to manufacture sufficient inventory for a sizeable launch.
Powdered THC Drink Mixes for the California Recreational Market - The Company is planning a new line of powdered THC containing drink mixes to be manufactured and distributed under California's strict cannabis licensing and tracking regulations and protocols. The Company plans to manufacture the unique line of nano-infused beverages utilizing license already held by the Company team members through strategic partnerships and to distribute initially to licensed California dispensaries associated with these team members. The product lines will consist of multiple flavor types, including coffee and tea lines. Mr. Tabatabaei continued, "The beverage industry is certainly about flavor and taste, but success is also significantly based on strong distribution. Within the California recreational cannabis marketplace there is another factor that must be considered - Licenses. We believe we not only have unique infusion technologies, but via our association with corporate directors Edward Manolos and Robert Hymers, we also have immediate access to California manufacturing and distribution licenses, and to an established set of licensed California dispensaries that are seeking innovative products. For these reasons, we believe we will be able to quickly enter this marketplace."
Unique Cannabis Centric Intellectual Property - Members of the Company have developed several unique technologies in the area of cannabinoid delivery systems. The Company plans to seek protection of these technologies and inventions via patent filings. The research and development efforts relative to these inventions have centered on methods to infuse cannabinoids into foods and beverages, and to use non-food infusion systems to deliver cannabinoids to the human body.
About the New CEO, Arman Tabatabaei
Mr. Tabatabaei is a founder and Chairman of Cannabis Global, Inc. With over 15 years of management and operations experience, he has earned a strong reputation for a numbers-based analytical approach to the management of organizations. An expert at data collection and analysis relative to resource management, risk forecasting and profit and loss management, he has made significant progress in revamping operations of several companies over the past fewyears.
Most recently, Mr. Tabatabaei has consulted with Cannabis Strategic Ventures (OTCQB:NUGS) on various growth initiatives relative to both cannabis cultivation and the organization of new hemp-related retail operations. At Sugarmade, Inc., (OTCQB:SGMD) he has been instrumental in revamping various operations relative to the Company’s hydroponic growth supplies initiatives.
Previously, he consulted with large corporations to create supply chain efficiencies using mathematical models and software such as JPM, SPSS and Minitab. Arman is also well versed in the retail industry after having started and successfully selling several retail establishments.
Mr. Tabatabaei possesses a Master of Business Administration degree from the University of Redlands, with additional post-graduate work in predictive analysis and a Bachelor of Science degree in health sciences, with an emphasis on mathematics and physics.
About the new Director, Robert Hymers
Mr. Robert L. Hymers is a founder and Director of Cannabis Global. Inc. He has significant experiences in the cannabis sector and as a financial executive and consultant. Mr. Hymers is the Managing Partner of Pinnacle Tax Services in Los Angeles and was previously Chief Financial Officer and Director of Marijuana Company of America, Inc. (OTC: MCOA). He currently serves as a member of the Strategic Advisory Board at MassRoots, Inc., as a consultant for Cannabis Strategic Ventures, Inc. (OTC: NUGS) and Sugarmade Inc. (OTC: SGMD), with significant experience in matters concerning tax accounting, auditing, SEC reporting, mergers and acquisitions, and corporate finance. Mr. Hymers holds a Master of Science in Taxation and a Bachelor’s of Science in Accountancy, in addition to a CPA license.
Robert also has specific tax audit experience by way of employment at Ernst & Young (EY) where he worked in the firm’s core assurance practice performing audits of publicly and privately held companies, specifically in the real estate industry. Mr. Hymers subsequently transferred to the EY’s tax practice, where he specialized in providing tax services to clients in the real estate industry. Mr. Hymers specializes in partnership taxation. In addition, He has a broad range of experience, including ASC 740 tax provision audits, FIN 48 compliance, REIT compliance, preparation of 1120, 1065, and 1120S returns, multi-state tax compliance and international tax consulting. He was also a member of EY’s National Tax Group (FSO) for several years, which services private equity firms, hedge funds and banks. Previously he was also the VP of Finance and Accounting of Everlert’s wholly owned subsidiary, Totalpost Services, Inc., located in Monrovia, California and was CFO of Global Hemp Group, Inc.
About the new Director, Edward Manolos
Mr. Edward Manolos a founder and Director at Cannabis Global, Inc. and is one of the most accomplished pioneers in California’s Medical Marijuana industry. In 2004, he opened the very first Medical Marijuana Dispensary in Los Angeles County under the name CMCA. He has managed and operated over thirty five dispensaries from Los Angeles to San Jose including twenty In Los Angeles Pre-ICO/Prop D. He is also credited with starting Los Angeles’ first Medical Marijuana farmers market referred to as “The California Heritage Farmer’s Market,” which attracted local and international media attention and was the first of its kind.
He is currently a member of the board of directors of Marijuana Company of America (OTCQB: MCOA). In 2016, Mr. Manolos was appointed to the advisory board of Marijuana Company of America and Cannabis Strategic Ventures (OTCQB: NUGS) and was tasked with identifying and structuring strategic partnerships and driving product development. Mr. Manolos is also the founder of many successful companies, such as Natural Plant Extracts of California (NPEC), located in Lynwood, CA and holds one of the first State of California issued volatile manufacturing licenses. NPEC has added distribution and delivery licenses and is locking in distribution contracts with some of the largest licensed cannabis brands in California. He is also affiliated with Everest Biosynthesis Group, a leading producer of pharmaceutical grade CBD.
He also co-founded Ocen Communications Inc. in 1997, which was previously traded on NASDAQ under the symbol OCEN, which was an Asia-focused internet communications service provider transmitting voice, fax, and data communications for consumers, carriers and corporations. His diverse entrepreneurial focus led him to later launch the KIWIBERRI Frozen yogurt franchise in 2005.
Mr. Manolos has also provided consulting services to numerous other companies relative to the obtainment of California and Washington marijuana retail and production licenses. Mr Manolos graduated from the University of California, Riverside with a Bachelor of Science degree in Computer Science and Business Administration.
Share Structure as of 06/28/2019:
Authorized Shares: 290,000,000
Outstanding Shares: 183,864,600
Restricted Shares: 166,759,600
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