PLUS Completes Acquisition of Cannabis-Infused Baked Goods Brand GOOD CO-OP

SAN MATEO, Calif., Dec. 13, 2018 (GLOBE NEWSWIRE) — Plus Products Inc. (the “Company” or “PLUS”) (CSE: PLUS), the leading cannabis edibles brand in California is pleased to announce that further to its press release of December 3, 2018, it has completed the acquisition (the “Transaction”) of all the assets of California-based cannabis-infused baked goods brand GOOD CO-OP, INC. (“GOOD”) pursuant to the terms of an asset purchase agreement among the Company, Plus Products Holdings Inc., GOOD and the GOOD securityholders’ agent. Under the terms of the agreement, the Company issued 357,464 subordinate voting shares to the shareholders and holders of simple agreements for future equity (collectively, the “securityholders”) of GOOD at a valuation of approximately CAD$2,030,000. Of the 357,464 subordinate voting shares issued, 323,451 subordinate voting shares are subject to an earn-out as previously disclosed in the Company’s press release of December 3, 2018.

At PLUS we believe in executing quickly and are pleased we were able to close the agreement promptly after announcing the planned acquisition. I would like to thank the PLUS team that worked diligently on the deal as well as the GOOD team, who we are excited to have on board.

Jake Heimark, CEO of PLUS

None of the securities to be issued pursuant to the Transaction have been or will be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued pursuant to the Transaction were issued in reliance upon available exemptions from such registration requirements pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the U.S. Securities Act and applicable exemptions under state securities laws. In addition, the securities issued under an exemption from the registration requirements of the U.S. Securities Act are “restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act and contain the appropriate restrictive legend as required under the U.S. Securities Act as well as under National Instrument 45-102.

About PLUS

Plus Products Inc. is a leading branded products manufacturer based in California. Its products consist of cannabis-infused edibles, which it sells to both the regulated medicinal and adult-use recreational markets. PLUS™ is currently one of the fastest-growing edible brands in California with several top-selling products The Company’s mission is to make cannabis safe and approachable – that starts with manufacturing high-quality products delivering consistent experiences.

About GOOD

GOOD is a cannabis-focused food brand. Its mission is to create high quality, low-dose products for mass-market consumers. Its first product, the GOOD brownie, is a modern twist on the classic pot brownie made with high quality ingredients and uniform product consistency.

Original press release

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

Get Our Sunday Newsletter