Wee-Cig International To Acquire Controlling Interest In The Jamaican Brew House - Wee-Cig Intl (OTC:WCIG)

Wee-Cig International Corporation WCIG has entered into a definitive agreement for the acquisition of a controlling interest in The Jamaican Brew House.

The Jamaican Brew House has developed a patent pending technology, for a neutral liquid base made from cannabis that can be used in a range of food and beverage applications. JBH plans to begin commercial sales of its products in fiscal 2023.

“We are excited to announce entry into a definitive agreement to acquire a controlling interest in The Jamaican Brew House,” stated Efraim Babayov, president of Wee-Cig. “Kickstarting commercial sales for The Jamaican Brew House products is expected to be the focus of Wee-Cig in 2023. I believe this acquisition will provide tremendous value to our company and shareholders.”

Concurrent with the closing of the definitive agreement with JBH, Babayov, sole officer and director of the company will resign all positions, and Ruben Yakubov shall join the board of directors of the company, as a director and chairman of the board along with assuming the role of corporate secretary. Erin Winczura, sole officer and director of JBH, shall be appointed CEO, president and treasurer as well as to the board of directors of the company. Closing is expected to occur no later than February 10, 2023. Under the terms of the definitive agreement, each of Yakubov and Winczura, and their controlled entities, will receive a minimum of 19.44 million unregistered, restricted common shares of Wee-Cig.

Benzinga’s Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo: Benzinga edit with photos by geralt, lindsayfox on Pixabay

Image and article originally from www.benzinga.com. Read the original article here.