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Weekend Unlimited has completed the arms-length acquisition of R&D Pharma’s Jamaican interests

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The acquisition includes a Tier-3 Cultivator’s License, which permits full cultivation of cannabis plants on more than 5 acres, allowing for cultivation on the full 98-acre property, located near Ocho Rios, Jamaica.

Additional Information:

Company: Weekend Unlimited
Website: http://www.weekendunlimited.com
Stock Symbol: CSE: POT
Date Published: Feb 20, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Weekend Unlimited has completed the arms-length acquisition of R&D Pharma’s Jamaican interests.

The acquisition includes a Tier-3 Cultivator’s License, which permits full cultivation of cannabis plants on more than 5 acres, allowing for cultivation on the full 98-acre property, located near Ocho Rios, Jamaica.

Richard Bailey, President of R&D Pharma, stated: "We are thrilled to join the tremendous team at Weekend Unlimited under Paul Chu's leadership. With our Tier-3 cultivators license, our active focus is on medical tourism in Jamaica, having designed and constructed the first of our 'Ganja Café's' within a short tour bus ride from the cruise ship terminals in Ocho Rios. We just completed a harvest last week on our 98-acre property to stock the Ganja Café for first tourism visits beginning on May 15th. The Ganja Café will be stocked with branded Jamaican strains, extracts, and infused products that will serve as a precursor to our future wholesale distribution in Jamaica and internationally.”

Jamaica is considered to be one of the world’s lowest cost geographies for growing cannabis.

To close the acquisition, Weekend issued 80 million shares at a deemed price of $0.25 per share, along with 25 million warrants, with each warrant exercisable at $0.35 for 24 months.

Approximately 49 million shares are subject to a voluntary escrow agreement.

Paul Chu, Weekend Unlimited President and CEO, stated: "Upon signing this deal, we are excited to accelerate operations in Jamaica. There has been tremendous work accomplished on the property by the team on the ground and the cultivation results have been impressive in both quality and economically.”

Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments.

The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles.

Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems.

Weekend Unlimited, which began trading on the CSE on October 15th, is currently trading at $0.16.

For more information, please visit the company’s website at www.weekendunlimited.com or contact Paul Chu, President and CEO, at 1-888-556-9656 or email ir@weekendunlimited.com.

I’m Samantha Deutscher for Investmentpitch Media