Cable provider 4Cable TV International, Inc. CATV announced in October it is planning to enter the CBD sphere with two acquisitions.
According to recent news, the company has completed the purchase of a few CBD-focused companies.
Port St. Lucie, Florida-based 4Cable bought 100% of the equity interest of each of Health Care and Wellness Clinics of America LLC and Corporation Clinic LLC, for $900,000 and $350,000 respectively.
4Cable compensated for both purchases in the form of its Series B shares (70%) and through the issuance of a promissory note (remaining 30%).
The company’s shares of Series B preferred stock were priced at $0.0017 per share, while each promissory note has an annual interest rate of 6%, set up to mature before the end of 2021.
4Cable is set to take control of two franchise models in the CBD retail space, allowing it to become a fully integrated CBB/hemp enterprise.
Health Care and Wellness Clinics of America is a franchise holding company that runs three CBD-related business models.
The first one considers Chai MD medical clinics that offer a “lifestyle medicine program,” which includes cannabis. The second one is a bistro Hip n Chai (pictured) with a majority of plant-based whole food diet complemented with cannabinoids, and the third business model is named Get Medicated and it helps find clients for the previous two models.
Corporation Clinic first ran one of the clinics and bistros of Healthcare and Wellness Clinics of America, and later become the wholesale and online distribution place for the Chai and Hip products.
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