Hempacco Co (HPCO) Acquires MJAC Vending

Hempacco Acquires Assets of Simtech, MJAC Vending, and Bear Air, Paving the Way for Innovative Vending Solutions and Broader Product Offerings

Hempacco Co, Inc. (NASDAQ: HPCO) is excited to announce the acquisition of certain assets from Simtech LLC, MJAC Vending LLC, and Bear Air, LLC.

The agreement, signed by Hempacco's CEO, Sandro Piancone, and David Simchon, Chief Executive Officer of Simtech LLC, delineates the following terms of the acquisition.

Agreement Highlights:

1. Parties: Hempacco and Simtech LLC, MJAC Vending LLC, and Bear Air, LLC.

2. Assets: The acquisition includes 120 Nayxs and vending machines with over 77 active booth placements and any Disney-branded kiosks owned by Simtech.

3. Hempacco's Contribution: Hempacco's subsidiary, Hempbox Vending, Inc., will be rebranded as "Celebrity Vending" and will own at least 100 vending machine kiosks.

4. Post-Acquisition Operations: Celebrity Vending will have licenses to sell Hempacco's celebrity-branded and Disney-branded products and VDL tribe approval for casinos.

5. Employment: David Simchon will be appointed as CEO of Celebrity Vending post-closing.

Sandro Piancone, CEO of Hempacco, expressed enthusiasm about the partnership, stating, "This agreement marks a significant step towards expanding our market presence and diversifying our product offerings."

David Simchon, CEO of Simtech LLC, shared similar sentiments, stating, "We believe this collaboration with Hempacco will unlock new opportunities for growth and innovation in the vending industry."

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