Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) has closed the acquisitions of two ecommerce brands that will boost its portfolio in the nutraceutical and hemp-based CBD product sector.
The Vancouver-based firm, formerly known as Mota Ventures, said Thursday it has completed the deals to acquire Golden Path LLC and Wild Mariposa LLC, both of which sell natural health products directly to US consumers.
Golden Path and Wild Mariposa join a growing portfolio of names under the Thoughtful Brands umbrella, including Nature’s Exclusive in North America and Sativida in Spain and Mexico.
READ: Thoughtful Brands inks letters of intent to consider acquisition of Golden Path and Wild Mariposa
In June, Thoughtful Brands inked a deal to acquire the eCommerce platform of Unified Funding LLC, of which both Golden Path and Wild Mariposa are current clients.
"Thanks to our relationship with Unified, our eCommerce and technology abilities are first-rate,” Thoughtful Brands CEO Ryan Hoggan said in a statement. “These brands not only complement our existing natural health product lines but position us for continued growth and advance our company as a leader in the space.”
Hoggan added that an increased focus on consumer brands and expanding its market footprint is part of the firm’s core strategy and growth trajectory.
“These two acquisitions come on the heels of several strategic acquisitions which are key to our larger goal to reach new customers internationally and increase eCommerce capabilities."
Under the term sheet details, Thoughtful Brands acquired 100% interest in Golden Path and Wild Mariposa by issuing around 11.5 million shares and 15.1 million shares priced at C$0.195 per share respectively.
The firm researches, develops, markets, and distributes natural health products through various brands in North America and Europe, including a strong footprint in the CBD market, as well as psychedelic medicines.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas