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AREV Nutrition Sciences (CSE:AREV) signed a binding agreement to acquire 100% of We Grow BC Ltd.

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We Grow is a private company strategically located in Creston, British Columbia, in the heart of the Kootenay’s, where BC grown marijuana originated. We Grow holds a Cultivation License under Health Canada’s Access to Cannabis for Medical Purposes Regulations.

Additional Information:

Company: AREV Nutrition Sciences
Website: http://www.AREVnutrition.com
Stock Symbol: CSE: AREV
Date Published: Jan 18, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutsche for Investmentpitch Media

AREV Nutrition Sciences has signed a binding agreement to acquire 100% of We Grow BC Ltd.

We Grow is a private company strategically located in Creston, British Columbia, in the heart of the Kootenay’s, where BC grown marijuana originated.

We Grow holds a Cultivation License under Health Canada’s Access to Cannabis for Medical Purposes Regulations.

Mike Withrow, AREV Chairman, stated: “We believe this to be the perfect synergy between both companies, with AREV having the extraction technology and finished products and We Grow’s current 24,000 square feet grow facility and up to 100 acre cultivation abilities in the Kootenays.”

We Grow retrofitted 24,000 square feet of its 100,000 square foot indoor space for Phase 1 Cultivation.

With a $50 million valuation, We Grow shareholders will receive a total of 100 million shares of AREV, with a deemed value of $0.50 per share, some of which may be subject to resale restrictions including escrow.

As this transaction constitutes a fundamental change, and is subject to approval by shareholders and the Canadian Securities Exchange, the shares have been halted pending acceptance and posting of the regulatory filings.

The shares last traded at $0.56

Both parties have five business days to provide complete and commercially reasonable requests for due diligence.

AREV will call a Special Annual General meeting to approve the transaction and increase the board of directors to 7 members, of which 4 will designated by We Grow.

AREV produces and delivers functional ingredients from its world-class extraction systems.

Operating at lower temperatures, and using non-hydrocarbon gas or solvents, the extraction system, manufactured by Alternative Extracts (www.alternativeextracts.com), preserves vital ingredients while yielding extracts of superior quality with no undesirable by-products.

The company is revolutionizing the current delivery method of coconut oil, whey protein and nutrients through emulsification.

These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets.

AREV is also working with Pharmacy and Dispensary operators with an innovative emulsified base formula to disperse Cannabis oil extracts from specific selected genetic Cannabis strains that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido.

The company also announced that it will not be proceeding with the acquisition of Verified Plant Genetics and the property in Parksville.

For more information, please visit the company’s website www.AREVnutrition.com, contact Stephane Maher, CEO, at stephane@AREVnutrition.com. I’m Samantha Deutsche for Investmentpitch Media