Cannabis Global's Marijuana Products To Reach California Via Joint Venture With Caliwanna Brands

Cannabis Global, Inc. CBGL announced the signing of a definitive agreement between the company and the owners of Caliwanna brands for comprehensive marketing and sales integration and acquisition of the Caliwanna cannabis brands.

Under the terms of the agreement, the highly experienced Caliwanna marketing team will immediately launch three of Cannabis Global's cannabis products - edibles, infused prerolls, and live rosin - into the California marketplace.

In addition, all Caliwanna products will now be sold under the cannabis license owned by Cannabis Global's majority-owned subsidiaries, Natural Plant Extract of California, and Northern Lights Distribution. Management of Cannabis Global expects the agreement to result in significant incremental revenue generation beginning immediately.

"This is so much more than just an acquisition of successful cannabis brands, although we are of course excited to begin marketing Caliwanna's Brands effectively immediately" stated Arman Tabatabaei, CEO of Cannabis Global. "In addition to meaningfully expanding our brand footprint, we are also gaining experienced sales and marketing executives via the addition of the principals of Caliwanna to our team. Caliwanna already sells products in several dozen California cannabis retail establishments. We plan to see our innovative products in this sales channel very quickly."

Under the terms of the agreement, Cannabis Global and Caliwanna have established a joint venture which is majority-owned by Cannabis Global. The JV will market the Caliwanna products, Cannabis Global's recently introduced products, and more than ten other cannabis brands owned by other entities. The owners of Caliwanna will be paid in preferred shares of cannabis global based on the performance of the revenue generated by the JV with Cannabis Global having two years from the effective date to make full payment in shares. In addition, the JV will be responsible for building the sales and marketing team to sell the products of both Caliwanna and Cannabis Global, in addition to any new products introduced by the JV.