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

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.