Cannabis Global Enters California Delivery Market Via Whisper Weed

Cannabis Global Inc. MCTC, formerly known as MCTC Holdings Inc., has finalized a deal with Los Angeles-based delivery service Whisper Weed Inc.

The agreement provides Cannabis Global with the ability to enter the California market.

Cannabis Global CEO Arman Tabatabaei said Thursday that the company opted to set up the delivery joint venture to grow revenue and launch infusion technologies.

They also launched a new California Corporation, dubbed CGI Whisper W Inc., to secure management services for the delivery venture.

In exchange for providing management services, CGI Whisper W will obtain 51% of the profits from the delivery venture.

The profits will be recognized as Cannabis Global's income.

"The delivery sector is the hottest area of the California cannabis business, and we are very pleased to have a seat at the table," Tabatabaei said.

Under the deal, Whisper Weed will obtain $150,000 restricted common shares in Cannabis Global and shares of the company's newly created non-voting, participating preferred stock.

Tabatabaei added the new deal is "simply only one component of our overall growth programs," considering the company "recently shifted priorities from full product development to marketing the many innovative products."

Courtesy photo

Posted In: cannabis industrycannabis salesLos AngelesCannabisNews

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