More Great News for MCOA INVESTORS- Cannabis Global ($CBGL) Acquires Ethos Technology and Proprietary Ultra-Secure Cannabis Transport Technology
Wed, November 18, 2020, 8:00 AM EST·5 min read
LOS ANGELES, CA / ACCESSWIRE / November 18, 2020 / Cannabis Global, Inc. (OTC PINK:CBGL), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies and investing in fast-growing cannabis markets, today announces its acquisition of Ethos Technology LLC, a Los Angeles startup specializing in ultra-secure cannabis transport containers for the commercial cultivation, processing and distribution markets. Cannabis Global plans to utilize this technology to market a line of secure transport products under the brand name Comply Bag.
Edward Manolos, founder of Ethos Technology and a director of Cannabis Global commented, "Having opened the first medical marijuana dispensary in Los Angeles back in 2004, my organization has struggled with securely transporting cannabis. That's why we invented this unique transport technology. I firmly believe it is a product this booming industry needs and that it is specifically tailored to be compliant with the regulatory framework in California and across the entire United States. We look forward to introducing this proprietary cannabis transport system to current operators and especially to new market entrants in other states as the nationwide market opens up to regulated sales. My goal is to use our experiences, and this new technology, to revolutionize cannabis transport across America."
Under the terms of the agreement, which closed on November 16, 2020, Cannabis Global acquired all technologies and products of Ethos for up to six million shares of restricted common stock to be paid out based on performance milestones achieved as this unique transport technology is rolled out into the licensed and regulated cannabis sector. Cannabis Global expects to begin offering the products on a nationwide basis over the next few months.
