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CannaOne Technologies To Acquire 100% Interest In Real Life Sciences for CA$2M

September 4, 2019 8:36 am
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CannaOne Technologies Inc. (CSE:CNNA) (OTC:CNONF) said Wednesday it has signed a letter of intent to acquire 100% interest in Real Life Sciences Inc.

CannaOne Technologies is a software company that works on creating a variety of online e-commerce market solution catering to the ever-growing needs of the CBD industry.

In April, CannaOne announced a collaboration with Real Life Sciences to start the BWell CBD online marketplace in the U.S. Per the agreement, Real Life Sciences was a local managing partner for the BWell claiming 75.1% ownership interest.

Under the terms of the LOI, the company will buy Real Life Sciences for CA $2 million, consisting of the issuance of the company’s shares.

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"Real Life Sciences' expertise, vast network and strong relationships within the US has brought substantial value to the BWell marketplace during the past months and has been a key factor in the early launch for the business. BWell is now capable of immediate sale and delivery of 140 high quality CBD products at extremely competitive prices to thousands of potential households in US,” said Riby-Williams, CannaOne’s CEO. “We believe that this infrastructure and knowledge contributed by Real Life Sciences to date provides substantial baseline support towards our Company now acquiring a sole ownership stake in the BWell marketplace that will assist to potentially provide long term substantial value to our shareholders."

The stock closed Tuesday’s session at 63 cents per share.

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