Two Hands Corporation Signs Agreement to Purchases Colombian Cannabis Licence
TORONTO, Jan. 22, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Two Hands Corporation (OTCQB: TWOH), a leading custom application development company, has agreed to purchase 100% of the licence to grow, export, hold cannabis and CBD derivatives in Colombia from Plantro Inc S.A.S.
Under the terms of the agreement the company will pay ten million restricted shares of common stock and a 15% royalty based on net income. The purchase is expected to close on February 15, 2019, subject to the conditions in our 8-k filed on January 17, 2019 with the SEC at www.sec.gov
CEO of Two Hands, Nadav Elituv commented, “Colombia has become a highly sought after jurisdiction for cannabis cultivation activities, it has world leading acceptance, ideal growing conditions, and an immense market. The agreement is an opportunity to see our company add production capabilities in the fast growing world markets of health and wellness, with a CBD focus allowing us to offer a wide range of products. We expect better access to institutional investors and a broader shareholder base through the addition of this licence.”
About Plantro Inc S.A.S.
Plantro Inc S.A.S. is an organic hemp based CBD licence holder located in Madrid, Colombia. Plantro is vertically integrated, producing from seed to wholesaler. Plantro was created to produce the highest quality, low cost hemp based CBD.
About Two Hands Corporation
Two Hands Corporation is now both an organic hemp based CBD cultivator and application development company that strives to offer the highest quality CBD extract derivatives to be exported under Two Hands CBD Lab brand. For more information, please visit our websites at www.twohandscbdlab.com or www.facebook.com/TwoHandsCBD
This press release contains forward-looking statements that involve a number of risks and uncertainties. Any statement not regarding a historical fact is a forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the company’s ability to finance its planned expansion efforts; the company’s ability to raise funds on acceptable terms; the company’s ability to successfully adapt its business model and such other risks disclosed from time to time in the company’s reports filed with the securities and exchange commission including those on the company’s annual report on form 10-K. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management’s expectations, except as required by law.
Two Hands Corporation
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/db71c120-30d4-4c09-9fa6-6c08ffd850f7