Ultimate Sports, Inc. (OTCPK:USPS) entered into negotiations to acquire Sannabis S.A.S., a Colombian cannabis company. Sannabis, and affiliated companies, hold all four cannabis licenses: seed use, THC-cultivation, non-THC (hemp)-cultivation, and fabrication/export. Ultimate Sports, Inc. will acquire Sannabis S.A.S. and initiate a name change at closing.
View Systems, Inc. (OTCEM:VSYM), developer of the ViewScan Concealed Weapons Detector, and Sannabis have an effective memorandum of understanding in place for VSYM to acquire Sannabis. View Systems has decided that its interest in Sannabis is better placed in a stake in USPS, which will acquire Sannabis.
Final terms have not been decided and will be announced later.
View Systems, Inc. is in the process of finalizing their 2020 and 2021 audit reviews to become current with their SEC filings with more disclosures.
Sannabis is manufacturing products and hired a marketing company to begin an aggressive sales campaign in Colombia. While they get their cultivation and fabrication facilities built out, they purchase raw materials from a reputable licensed supplier and use third party laboratories.
Sannabis doctors are on call for telemedicine or in-office visits. The Sannabis Wellness Centers offer the only legal means to obtain raw cannabis in Colombia, where there are no dispensaries. They will be franchising out their business model in all cities in Colombia to give responsible medical cannabis users a safe place to learn to grow and store a traceable plant. The Sannabis Wellness Center offers a 4-session course that certifies the grower and issues them a Sannabis Grower Card. Several municipalities are in favor of this business model to reduce crime and not feed the black market.
Ultimate Sports, Inc. will continue developing their Men’s Health Services business and incorporate Sannabis products for Men’s Wellness.
