SANTA MONICA, Calif.,
April 30, 2015 /PRNewswire/
-- Wanderport Corporation (OTC Markets: WDRP) is pleased to
announce today that the Company had signed the Asset Purchase
Agreement to acquire key assets of CannaLife's primary distributor,
Titan Distributing.
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Subsequent to the Letter of Intent, the parties agreed to change
the transaction from an equity purchase to an asset purchase.
Under the terms of the agreement, the Company will not assume any
liabilities and will receive:
- All of Titan's accounts and distributors in the State of Colorado, New Mexico, California, Oregon and Washington
- Exclusive distribution rights in Colorado, Oregon and Washington
- Brokerage fees for all national accounts secured for
CannaLife
- Preferred product pricing
- Option to purchase up to five percent equity in CannaLife
The Company is continuing its discussion with CannaLife on
additional partnership arrangements which include but not limited
to operations, resource management, marketing, business development
and a larger equity stake in CannaLife.
"We are pleased to have reached this important milestone which
allows us to play a bigger role in the distribution of Canna
Energy," said Eric Brown, CEO of
Wanderport Corporation. "This will strengthen our position as
a CannaLife's Master Distributor and set the foundation for which
our two companies to work more efficiently together to grow the
brand," added Brown.
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 premier distributor of food, beverages
and consumer products with a focus on industrial hemp. For
more information, please visit http://www.wanderportcorp.com.
Facebook: wanderportcorporation. Twitter:
@wanderportcorp.
Forward-Looking Statements:
Statements made herein 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. 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. 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.
Contact:
Wanderport Corporation
www.wanderportcorp.com
Investor Relations:
Eric Brown, CEO
Email
(310) 526-8720
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SOURCE Wanderport Corporation