NEWS: $COWI) COROWARE, INC SIGNS DEAL WITH GREEN FOR LIFE FOR EQUITY SWAP WITH SPECIAL DIVIDEND AND CANNABIS USAGE
by Public Relations
BELLEVUE, WA / ACCESSWIRE / November 17, 2016 / CoroWare, Inc (OTC: COWI) embarked on a joint venture with Green for Life to develop a manufacturing facility to grow and harvest marijuana to be sold to the legalized recreational outlets across the state. As part of the project, the Companies have now agreed to a mutual stock swap in an amount roughly equal to five percent of their current issued and outstanding common stock. It is anticipated that some portion of this equity will be used as a special dividend to the Companies’ respective shareholders. The special dividend will replace the previously announced reverse split, details to be communicated at a later time. This joint venture will enable both Companies to participate in each other’s progress and development.
Currently the facility to grow the product has encountered some difficulties launching off the ground floor. It came to our shocking attention recently, that one of our custodians was consuming large portions the product for the past six months. However, we the Companies have complete control now over this situation and plan on smoking it for ourselves instead.
This election was the biggest year in modern cannabis history. Four more states fully legalized weed — California, Maine, Massachusetts, and Nevada — which puts about one-fourth of the population in areas that have rejected prohibition. In addition, four more states voted to legalize marijuana for medical use —Arkansas, Montana, Florida and North Dakota. A recent Gallup poll suggests 60% of US citizens favor legalization.
When a state passes a cannabis law, we are able to register users and businesses with little or no cost. Because we are not involved in the production or sale of cannabis, we do not have the hard costs to generate revenue from the industry. At the same time, CoroWare’s vast experience and success with its business model is not tied to the success of a particular, brand, or content.
