New Age Farm signs LOI to ac­quire We Are Kured

Stockwatch Daily - - CONSUMER GOODS - Mr. Car­man Par­ente re­ports

NEW AGE Farm Inc. has en­tered into a let­ter of in­tent to ac­quire 100 per cent of the Den­ver-based CBD (cannabid­iol) com­pany, We Are Kured LLC. We Are Kured is an in­no­va­tive on-line CBD and life­style com­pany. The com­pany has part­nered with best-in-class hemp cul­ti­va­tors, edi­ble man­u­fac­tur­ers, cut­ting-edge prod­uct for­mu­la­tors to de­velop, mar­ket and dis­trib­ute mul­ti­ple lines of CBD prod­ucts in­clud­ing, but not lim­ited to, CBD va­por­izer pens, top­i­cals, gel cap­sules and more. All of We Are Kured’s prod­ucts are 100 per cent THC (tetrahy­dro­cannabi­nol) free and will be avail­able for pur­chase in­ter­na­tion­ally. THC, or tetrahy­dro­cannabi­nol, is the pri­mary ac­tive in­gre­di­ent in cannabis.

New Age Farm and We Are Kured will work toward a de­fin­i­tive agree­ment ex­pected to take place be­fore the end of De­cem­ber, 2017, wherein New Age Farm will ac­quire all the as­sets of We Are Kured in ex­change for $1.15-mil­lion payable in cash and shares.

We Are Kured is led by Ben­jamin Martch, an ac­tive cannabis mar­ket­ing en­tre­pre­neur and leader. Mr. Martch has as­sem­bled a team of lead­ers that has each made his or her mark in their re­spec­tive sec­tors rang­ing from cannabis, fi­nance, re­tail and hor­ti­cul­ture to pro­fes­sional sports. To­gether, We Are Kured’s team op­er­ates some of the

world’s pre­mier cannabis com­pa­nies with op­er­a­tions in Colorado, Ore­gon, Mas­sachusets, Mary­land and Cal­i­for­nia. We Are Kured in­tends to be­come an in­dus­try leader in the le­gal world­wide mar­ket­place.

Un­like THC, CBD (short for cannabid­iol), is a non-psy­choac­tive cannabi­noid and does not re­sult in any type of high and can be legally ex­tracted from the hemp plant and con­sumed.

Ear­lier this year, Forbes re­ported that: “Hemp-de­rived cannabid­iol (CBD) is pro­jected to be a bil­lion-dol­lar mar­ket in just three years, ac­cord­ing to a new re­port by Bright­field Group. The data com­pany es­ti­mates that hemp CBD sales have al­ready hit $170-mil­lion in 2016 and a 55-per-cent com­pound an­nual growth rate over the next five years will cause the mar­ket to crack the bil­lion-dol­lar mark.” Forbes fur­ther re­ported that: “Bright­field de­ter­mined that 64.5 per cent of the sales come through the on-line chan­nel fol­lowed by 17.8 per cent at smoke shops. Dis­pen­saries were third, with 9 per cent of the sales and health stores and doc­tors’ of­fices rounded out the top five.”

Car­man Par­ente, pres­i­dent and chief ex­ec­u­tive of­fi­cer of New Age Farm, com­mented: “We are very pleased at the im­mense op­por­tu­nity We Are Kured will bring to New Age Farm to en­ter into a whole new sec­tor of the cannabis in­dus­try. This will pro­vide our stake­hold­ers with an­othe r po­ten­tial rev­enue stream in an es­tab­lished and grow­ing in­dus­try. With his cannabis, event pro­duc­tion and business de­vel­op­ment his­tory in Colorado, Ore­gon and Cal­i­for­nia we are ex­cited to have a charis­matic leader like Ben Martch join our team.”

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­

An­thony Chiu Chak Chan, Peter Krogh Jensen, David John­son, Car­man M Johnel Par­ente

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