4CABLE TV INTERNATIONAL, INC. ANNOUNCES COMPLETION OF ACQUISITION OF CIGN, LLC.
10 Febbraio 2021 - 2:00PM
InvestorsHub Cannabis NewsWire
Miami, FL --
February 9, 2021 -- InvestorsHub
NewsWire -- 4Cable TV International, Inc. (OTC:
CATV) (the "Company") announced today that it completed the
acquisition of CIGN, LLC devoted to growing hemp flower and
seedlings to support a global CBD integrated services and products
company. Effective February 9, 2021, the Company acquired
100% of the equity interests of CIGN, LLC. As a result of the
acquisitions, the Company will operate a State of the Art Cravo
Grow Facility. Gross sales of CIGN for 2021 are expected to reach
between $20 and $40 million
dollars. This
acquisition, together with the Company's previously acquired
entities further the Company's new strategy of transforming the
Company into a fully integrated global CBD/hemp
business.
The Company acquired CIGN, LLC
for a consideration of $10,000,000. In the transaction, 70%
of the consideration was paid in the form of newly issued shares of
the Company's Series B preferred stock and 30% was paid through the
issuance of a promissory note. The shares of Series B
preferred stock, which are convertible into shares of Company
common stock, were valued at $0.007458 per share, which represents
the closing date average for the last 30 days
common stock conversion of Preferred B as of February 5,
2021. Each promissory note bears
interest at an annual rate of 6% and matures on the earlier of
February 9, 2022 or the consummation of a qualified
financing.
CIGN, LLC was owned by
affiliates of the Company. Michael Feldenkrais, the Company's Chief
Executive Officer and sole director, indirectly owned 50% of the
equity interests in CIGN and, therefore, received 50% of the
consideration payable in connection with that acquisition.
Mr. Feldenkrais also owns a majority of the voting control of the
Company through his ownership of the Company's Series A preferred
stock, which possess super-voting rights. The Series B
preferred stock issued in connection with the acquisitions do not
possess super-voting rights.
About CIGN,
LLC
CIGN,
LLC is a full-service germination nursery of affordable
hemp transplants to farms across the U.S. headquartered in
Homestead, Florida and a full-scale grower of Premium Hemp
Flower.
The company ships high
quality hemp seedlings directly to farms and grows plants to
completion to sell hemp flower and biomass to manufacturers to
produce products.
With a 6-acre State of
the Art “Cravo” Greenhouse facility with over 167,000 square feet
of covered area, the farm is currently growing over 100,000 plants
per season.
CIGN, opened its
doors in April 2020 and became the 2nd issued license in
the State of Florida and is under contract with the University of
Florida as a research facility. CIGN, is in a unique position
to grow several crops a year and provide consistent results that
focus on harnessing CBD, CBG, CBN and other Cannabinoid compounds
produced by the plant to apply it in human wellness.
www.canitgrow.com Our hemp flower products range from indoor
grown hemp strains to bulky high quality outdoor grown
strains. CIGN sells hemp strains from 2-star grade all the
way up to 5-star private reserve
grade.
About 4Cable TV
International, Inc.
4Cable TV International, Inc.
(OTC:
CATV) is seeking to create and operate a fully integrated
global CBD/hemp business, ranging from growing to retailing.
To accomplish this strategy, the Company has begun to actively seek
acquisition targets in the CBD/hemp industry, which may include
companies in which the CEO or other related parties have interests.
The companies will be consolidating all their operations into
the facilities of CIGN at 23100 SW 192nd Ave, Miami, FL
33170.
4Cable TV International, Inc.
has identified and is negotiating several other acquisitions it
will be announcing shortly.
Cautionary Note
Regarding Forward-Looking
Statements
Statements in this press release
regarding 4Cable TV International's business that are not
historical facts are "forward-looking statements." Examples of
forward-looking statements include, among others, statements
regarding the Company's future business and prospects, strategic
plans and strategic transactions. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on the Company's current beliefs,
expectations and assumptions regarding the future of its business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of the
Company's control. The Company's actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause the Company's actual results and financial condition to
differ materially from those indicated in the forward-looking
statements include, among others: general economic and financial
conditions; consumer demand for CBD/hemp products and services;
volatility in the trading markets and the lack of liquidity in the
Company's common stock; the Company's ability to successfully
execute on its new CBD/hemp strategy; the Company's limited
operating history in the CBD/hemp business; the legal status of the
Company's CBD/hemp business; risks inherent in the CBD/hemp
business; existing and new government regulations and changes in
regulatory requirements; risks related to rules and regulations at
the U.S. federal, state and municipal levels with respect to
CBD/hemp; the Company's ability to obtain financing or raise
capital on favorable terms or at all in order to execute its
business strategy; the Company's ability to successfully identify
and integrate acquired businesses; and risks associated with
engaging in transactions with third parties, including related
parties. For a discussion of additional general risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see CATV's OTC
Market filings. Any forward-looking statement made by in this
press release is based only on information currently available to
the Company and speaks only as of the date on which it is made. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise, except as required by
law.
SOURCE 4Cable TV International,
Inc. (OTC:
CATV)
Grafico Azioni 4Cable TV (PK) (USOTC:CATV)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni 4Cable TV (PK) (USOTC:CATV)
Storico
Da Nov 2023 a Nov 2024
