$WOWU WOWI Inc. completes total acquisition of RED CREEK SPRINGS FACILITY located at 5715 Red Creek Springs Road East Pueblo, Co. 81005.Press Release | 05/30/2022
WOWI Inc. after entering into a definitive settlement agreement with FBS Holdings and Alex Warner WOWI completes final payment on February 1st 2022 of afore-mentioned agreement. This allows WOWI Inc to take total and planned ownership of WOWI Real Estate holdings 1. Anthony C. Russo CEO of WOWI Inc and control person for WOWI Real Estate Holdings 1 executed resolutions that WOWI Inc. shall control and own 100% of the shares of WOWI Real Estate Holdings 1. WOWI Real Estate Holdings 1 holds in it's entirety the deed to 38 acres that is the RED CREEK SPRINGS facility located at 5715 Red Creek Springs Road East Pueblo, Co. 81005. "It has been a long road and I know I can speak for our investors, at times a turbulent one, however we did what set out to do since the first days of WOWI Inc.. That is to: 1) set the bar high in the Colorado cannabis market for quality at a reasonable price 2) create a brand we can be proud to stand behind 3) develop the best cannabis farm/grow in Colorado 4) protect our investment and own the facility at the end of the day and lastly 4) Brand WORLD OF WEED from wholesale to the golden goose of retail products to end consumers bringing WOW into as many homes as we can. This year we have seen the culmination of all 4 of these goals. The final payoff of our settlement agreement with FBS and Mr. Warner, freeing up the property for ownership under WOWI Inc., was the finish to long excecuted plan and a proud moment for all associated with WORLD OF WEED and WOWI Inc.
Anthony C. Russo founder of WOWI Inc. and the WORLD OF WEED brands says proudly, "This is not the end by any means. We wanted to prove we could survive and flourish in the legal cannabis market and have done so unequivocally. We still have many goals to accomplish and that is to continue to expand our Colorado footprint, continue to build out our now 100% owned Red Creek Springs facility and of course become a multi-state brand.". He continues to say, " I know our investors have taken this longer than expected road with us. Most have been supportive and others of course dissappointed. However, one thing is a fact WE DID IT! We survived 2 terrible downturns in Colorado and every step of the way we grew our company through growth of revenue and sales in the underlying licensed companies. We believe that our superior employees, work and technology will continue to foster our future growth and bode well for our future. To make it clear the settlement agreement that was completed was with a previous board member of WOWI Inc. Mr. Alex Warner and his company FBS holdings.
"It was a bitter sweet day paying off the entire settlement amount, on one side it was a completion of a long laid plan for us and our investors on the other it reminded me that those we started with are not all enjoying these times with us. Sometimes people just see things differently and all I can do as the primary fiduciary of WOWI Inc. is to do what I feel is right in my heart and mind for our company." Mr, Russo ends by saying.
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