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WEED Inc Announces Exit from Colorado Cannabis Marketplace with Sale of Sangre Biosciences 4-Acre Campus & Hilltop Headquarters for $3.1 million

November 30, 2023 6:01 AM EST

TUCSON, AZ / ACCESSWIRE / November 30, 2023 / WEED Inc. (OTCQB:BUDZ), ("WEED" or the "Company") a global cannabis & hemp bioresearch company based in the USA, focused on the development and application of cannabis-derived compounds for the treatment of human and animal diseases, to expand into "consumer packaged goods" utilizing our rare Landrace strains including Original Panama Red, Acapulco Gold, Red Bud Colombian & Santa Marta Gold !

WEED, a leading cannabis company, is pleased to announce its successful exit from the Colorado cannabis marketplace with the sale of Sangre Biosciences' 4-acre campus for $1.8 million and its headquarters for $1.34 million. The proceeds from these sales will be utilized for strategic acquisitions, with a particular focus on Arizona expansion into testing facilities and buildout of a cGMP certified kitchen to produce CPGs under HEMP BioSciences Inc., a wholly owned subsidiary of WEED Inc. based in Tucson, Arizona USA.

Glenn E. Martin, CEO of WEED, expressed his excitement about the company's recent transactions, stating, "With the sale of our Colorado headquarters last year for $1.34 million and our Sangre research center in July 2023 for $1.8 million, we now have additional funds to concentrate on pursuing acquisitions and development of our HEMP BioSciences division. Our goal is to further develop consumer packaging goods (CPGs) and deliver high-quality, premium products to our customers."

WEED has established a strong presence in the cannabis and bioscience arena, with operations spanning across Israel, Australia, and the USA. With the current market conditions post Covid, the Company recognizes the opportunity to focus on developing exceptional products using our landrace strains. As part of this effort, HEMP BioSciences, a subsidiary of WEED Inc, is currently constructing a "cGMP" certified kitchen in Tucson, Arizona, to facilitate the development of their consumer products division.

Mr. Martin, with 50+ years in sector, emphasized the Company's commitment to quality and innovation, stating, "We believe that now is the time to leverage our expertise and resources to create top-tier products that meet the evolving needs of consumers. By investing in our infrastructure and expanding our capabilities, we believe we are well-positioned to lead the market in 2024 and deliver exceptional value to our customers and shareholders alike"

WEED looks forward to the next phase of its growth in these endeavors and will continue to explore opportunities to expand its footprint in Arizona, awaiting new regulations to expand in the New York marketplace. WEED will maintain its presence in other global markets. WEED Australia Ltd. & The Cannabis Institute of Australia (C.I.A.) now has 7 full years of audited financials under ASIC rules.

About WEED Inc:
WEED Inc is a leading cannabis company dedicated to delivering exceptional products and experiences to the cannabis consumer market. With operations spanning Israel, Australia, and the USA, the company focuses on innovation, quality, and sustainability. Through strategic acquisitions and partnerships, WEED Inc aims to shape the future of the cannabis industry.

WEED, Inc.'s Subsidiaries past comments:

WEED Israel (Cannabis) Ltd. "After over 4 years of putting human clinical trials and product development on hold due to COVID and now the war, WEED Israel is still poised and anxious to build out our global brands in both pharmaceutical and non-pharmaceutical categories, starting with women's health and veterans' ailments (PTSD) to healthy green alternative medicines" stated Elliot Kwestel, Managing Director of WEED Israel (Cannabis) Ltd. based outside Jerusalem.

Kwestel further commented, "WEED Israel looks to enrich and expand our clinical trials with both THC and Cannabinoid studies to promote healthy living for generations to come."

WEED Australia Ltd. and The Cannabis Institute of Australia (C.I.A.), our Australian non-profit arm, based in Queensland on the Gold Coast.

Corporate Director Patrick Brodnik stated, "With the new rules out governing cannabis & hemp in Australia and the announcement in February 2021 to allow over-the-counter CBD medicines in pharmacies, now after Covid, timing is perfect to begin our clinical trials in Israel and Australia to bring new curative products to market as we close out COVID mandates this year.

Managing Director Amanda Brunskill-Scott commented "Next year 2024, the future of USA & Australia decriminalizing cannabis and hemp globally will prove to be a giant leap forward for worldwide cannabis legalization."

WEED Hong Kong Ltd. Director Nicole Breen agrees, "The pandemic has affected all of us on a worldwide basis. Healing our planet with natural therapies, treatments and eventual "cures" utilizing natures' own Cannabaceae plant with its many properties, both with high tetrahydrocannabinol (THC) and cannabidiol (CBD) compounds, I believe will change the force of medicine forever in the years to come. We look forward to an exciting year end and a Prosperous 2024"

Caution Regarding Cannabis Operations in the United States:
Any Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute, or possess cannabis.

That all Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation. That Investors should carefully read the risk factors and disclosures contained in our offering circular before making any decision to invest in our company.

Forward-Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "potential", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to any future revenue and profits.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct.

Actual results and developments may differ materially from those contemplated by these statements.

Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. The statements in this press release are made as of the date of this release.

That the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws for the relevant country.

Legal Notice:
That the information is provided for convenience only, it is not investment advice and may not be relied upon in considering an investment in WEED, Inc.

That No representation or warranty, express or implied, is made as to the accuracy or completeness of any information contained herein, and any investment decision should be based solely on the information contained in the offering circular and related materials, and the investors independent research.

We advise that No representations or warranty, express or implied, is made as to the future performance of any investment in WEED, Inc. or that investors will or are likely to achieve favorable results, will make any profit at all or will be able to avoid incurring a loss on their investment.

In addition, all prospective investors are encouraged to consult with their financial, tax, accounting, or other advisors to determine whether an investment in WEED, Inc. is suitable for them.

Media Contact:
Glenn E. Martin, CEO
1-520-818-8582
[email protected]

SOURCE: WEED, Inc.



View source version on accesswire.com:
https://www.accesswire.com/811648/weed-inc-announces-exit-from-colorado-cannabis-marketplace-with-sale-of-sangre-biosciences-4-acre-campus-hilltop-headquarters-for-31-million



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