Thoughtful Brands Inc.(CSE:TBI) (FWB:1WZ1:GR )(OTCQB:PEMTF) said it has signed letters of intent (LOIs) under which it proposes to acquire Golden Path and Wild Mariposa, companies involved in the online marketing and distribution of consumer health products.
Golden Path and Wild Mariposa are direct-to-consumer eCommerce brands selling a range of natural health products, including nutraceutical and hemp-based cannabidiol products within the US. Both brands are current clients of Unified Funding, which is contracted to perform a number of eCommerce business operations.
READ: Mota Ventures Corp. unveils name change to Thoughtful Brands Inc., expected to take place on August 14
Under the LOIs, Thoughtful is considering to acquire both companies for the issuance of 11.5 million and 15 million shares respectively at a price of C$0.195 each.
"We are excited to look at the acquisition of these two established natural health brands as a further step in our eCommerce expansion in North America. Both brands possess product lines that are complimentary to Nature's Exclusive and bring a large existing customer base along with nutraceutical product formulations and manufacturing relationships.
"Our timing is very strategic to acquire these brands as we near the closing of the Unified Funding asset acquisition, which will manage all go forward eCommerce operations for Thoughtful Brands", Ryan Hoggan, the company’s chief executive said in a statement.
Thoughtful Brands - the rebranded Mota Ventures - is an eCommerce technology firm that researches, develops, markets, and distributes natural health products through various brands in North America and Europe.
Contact the author at calum@proactiveinvestors.com
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