Wanderport Corp Signs Letter of Intent to Acquire
Minority Stake in CannaLife’s Primary Distributor, Titan
Distributing
SANTA MONICA, CA -- March 18, 2015 -- InvestorsHub NewsWire --
WanderPort Corp. (OTC
Markets: WDRP) is pleased to announce today that the Company
has signed the Letter of Intent to acquire a minority stake in
Titan Distributing, a primary distributor for CannaLife USA
Ltd.
Titan Distributing has been functioning as CannaLife’s primary
distributor in selling Canna Energy, a TCH free hemp supplement
beverage. Wanderport’s wholly owned subsidiary, GOH Corp, is
Canna Energy’s exclusive distributor for the state of Nevada and
general distributor for the state of California. Over 1M cans
of Canna Energy have been sold to date in 25 states and Puerto
Rico.
Under the LOI signed by the parties, the Company will acquire
49.9% of Titan, 2% of CannaLife and an option to acquire an
additional 3% of CannaLife in exchange for a combination of cash
and restricted Common stock of the Company. The Company will
be granted a preferential purchase price for the products as well
as exclusive distribution rights in the state of Colorado, New
Mexico, Oregon and Washington. The Company will also assume
certain Titan’s assets and liabilities as well as the management
and servicing of over 2,000 existing accounts.
“This is a tremendous opportunity for our companies to jointly
build the brand and distribute Canna Energy,” stated Eric Brown,
CEO of Wanderport Corporation. “We are looking forward to be
working closer with CannaLife in the production, marketing and
distribution of this exciting new product in the multi-billion
dollar beverage industry”.
About CannaLife USA, Ltd.
CannaLife is a manufacturer and distributor of Canna Energy, a
THC free hemp supplement beverage. For more information,
please visit http://www.cannagetsome.com.
About Wanderport Corporation
Wanderport Corporation is an investment holding and incubator
company with primary focus on consumer products and services and
the emerging cannabis industry. Green Organic Holdings, a wholly
owned subsidiary of Wanderport, is CannaLife’s exclusive master
distributor for the state of Nevada and a general distributor for
California. For more information, please visit http://www.wanderportcorp.com. Facebook:
wanderportcorporation. Twitter: @wanderportcorp.
Forward-Looking Statements:
Statements made herein, other than historical data, constitute
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
stated or implied by such forward-looking statements. The potential
risks and uncertainties include, among others, potential volatility
in the company's stock price, increased competition, customer
acceptance of new products and services to be offered by the
company, and uncertainty of future revenue and profitability and
fluctuations in its quarterly operating
efforts. Forward-looking statements are projections of events,
revenues, income, future economics, research, development,
reformulation, product performance or management's plans and
objectives for future operations. In some cases you can
identify forward-looking statements by the use of terminology such
as "may", "should", "anticipates", "believes", "expects",
"intends", "forecasts", "plans", "future", "strategy", or words of
similar meaning. While these forward-looking statements and
any assumptions upon which they are based are made in good faith
and reflect current judgment regarding the direction of the
business operations of Wanderport Corporation, actual results will
almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested in this press release. These statements are
predictions and involve known and unknown risks, uncertainties and
other factors, including the risk that Wanderport Corporation
cannot execute its business plan for lack of capital or other
resources, distribution, licensing/acquisition opportunities or
internal partnering issues or restructuring/resignation which may
modify existing licensing agreement, arrangements and/or
contractual obligations, as well as the risks described in the
periodic disclosure documents filed on OTCMarkets.com by Wanderport
Corporation. Any of these risks could cause Wanderport
Corporation or its industry's actual results, levels of activity,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements in this
press release. Except as required by applicable law, including
the securities laws of the United States, Wanderport Corporation
does not intend to update any of the forward-looking statements to
conform these statements to actual results.
Contact:
Wanderport Corporation
www.wanderportcorp.com
Investor Relations:
ir@wanderportcorp.com
(310) 526-8720