VUME $04 42%+ NEWS!!! SHELL GOING MJ BUSINESS! LOI TO R/M? VuMee Inc. Announces LOI to Acquire Operator of Medical Marijuana Cultivation Centers
(via TheNewswire)
Company provides medical marijuana for the Washington, D.C., area
Scottsdale, AZ /TheNewswire /January 23, 2018 - VuMee Inc. (OTCMKTS: VUME) today announced that on January 17, 2018, it entered into a letter of intent to acquire 100% of the equity interests in Montana Apothecary LLC d.b.a. Alternative Solutions Cultivation Center. The parties plan to structure the transaction as an exchange of equity shares coupled with a debt restructuring and $2 million cash investment into the business of Montana Apothecary LLC. The terms of the letter of intent are not binding on the parties and are subject to the signing of a definitive agreement.
Montana Apothecary LLC develops and operates medical marijuana cultivation centers which sell to fully-licensed medical marijuana distributors in the Washington, D.C., metro area. The company currently operates an 18,000 square foot cultivation center, and is developing a second cultivation center, both within Washington, D.C., city limits. Additionally, the company has executed an agreement to build and operate a third fully-licensed cultivation center in a neighboring state.
The parties to the letter of intent plan to execute a definitive agreement within the first calendar quarter of 2018.
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