Wow: “This acquisition will propel us into a solid position of leadership in CBD product formulation standardization and quality assurance of hemp-based medicinal CBD products,” said Frank Igwealor, Cannabionoid Biosciences’ CFO. “With our vision of building a completely vertically integrated CBD operation model, ensuring quality and premium status of product in our distribution is paramount.“ This acquisitions will also be accretive to our earnings immediately as follows:
Total Acquisition Cost: $33,430,000
Fixed Assets Acquired: $18,850,000
Total Projected Revenue: $30,257,162
Estimated Net Profit: $9,322,460
About Cannabinoid Biosciences, Inc
Cannabinoid Biosciences, Inc., a California based Biopharmaceutical Company seeks to revolutionize and standardize the pharmaceuticals and non-pharmaceutical CBD products formulations and applications across the CBD market in the United States of America. Cannabinoid Biosciences, Inc intend to push into the Farm-Bill compliant CBD business that includes: (1) Ownership interest in certain businesses that extract, purchase and distribute Bulk Pure CBD, Isolate, Hemp Oil, THC-free CBD Distillate and Crude CBD Oil; (2) Partnerships with local farmers to grow farm bill compliant hemp biomass; (3) Partnerships with extract facilities across the U.S. who manufacture hemp-based ingredients to meet the specific needs financial products in form of asset-backed loans, business property mortgages and other financial products to qualified individuals/businesses in the legal-CBD businesses.
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