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Friday, March 13, 2015 9:49:47 AM
SMART VENTURES, INC. (SMVR: OTC) AND CANNABIS FUNDING GROUP ANNOUNCES CANNABIS PORTFOLIO ACQUISITION
Houston, TX -- March 13, 2015 -- InvestorsHub NewsWire -- Smart Ventures, Inc. and its wholly owned subsidiary Cannabis Funding Group, LP is pleased to announce its portfolio acquisition in GCHI Green Company Holdings, Inc. (The Green Fund and its subsidiary companies).
The transaction provides for the issuance 40,000,000 restricted common shares of Smart Ventures, Inc. and a convertible promissory note in the amount of $250,000 and $1,000,000 in Cannabis Funding Group, Inc. Limited Partnership Interests to The Green Fund in exchange for the issuance of 1,450,000 common shares @ $1.00 per share for a 9.99% equity stake of The Green Fund.
Smart Ventures and Cannabis Funding Group will receive 50% of the revenue generated by GCHI Green Company Holdings, Inc. (The Green Fund and its subsidiary companies). This is a significant investment for the portfolio of Cannabis Funding Group, because the company brings considerable assets, including intellectual property though its cannabis payment processing service, cannabis marketing, and green energy. The combined management team brings a wealth of experience and opportunities for synergistic growth. The transaction is scheduled to close by March 31, 2015.
The companies will work together to raise additional funding through Cannabis Funding Group LP for its projects and look to increase shareholder value for both companies.
“We are pleased to have negotiated such a significant asset purchase for our cannabis portfolio which brings value to our shareholders. We are excited to work with such a first class management team with so many synergies, says Roger AT Smith, CEO.”
About The Green Fund
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