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Monday, Jul 4, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Indiana-based Ultimate Sports set to acquire Colombian pot company

Security expert affiliated with Latin-American grower hands-off supplier ownership rights to men’s health service for company stake

Indiana-based Ultimate Sports set to acquire Colombian pot company
Photo via Sannabis S.A.S.

A men’s health service provider in Indiana specializing in sexual wellness and male nutrition has announced plans to acquire a cannabis producer from a country renowned internationally for its cultivation capabilities.

On Wednesday, Ultimate Sports, Inc. (OTC: USPS) announced that it would be obtaining ownership of Sannabis S.A.S., a Colombian cannabis supplier. The men’s health company will be altering the grower’s business name upon the conclusion of the new proprietorship agreement and completion of the necessary documentation.

The Colombian cannabis company was created to collaborate with local Indigenous tribes to assist with the cultivation of their native plant, turning it into medicinal products. A constitutional sentence allowed Indigenous people from the war-torn provinces of Cauca to grow cannabis and convert it into saleable products.

Sannabis is partnered with View Systems Inc., a top-tier security systems manufacturer specializing in weapons detection systems for various facilities. The public protection specialist has its ViewScan technology installed everywhere from government buildings in Washington, DC to high schools in Detroit, Michigan.

Read more: Valens partners with distributor Coldhaus to accelerate growth in key markets

Read more: Cova Software aligns with Tymber for improved retail operating system

Although the security specialist partner currently has an effective Memorandum of Understanding in place to acquire Sannabis, the defence outfit has deduced that its intrigue in the South American cultivar developer would be better suited with a stake in Ultimate Sports once ownership has been passed over to them.

Final terms for the purchasing agreement between Sannabis and Ultimate sports have not been solidified and will be announced in the near future.

The stake for View Systems is intended to provide the company with financial means to manufacture new and upgraded ViewScan weapons detecting machines, which will be installed in schools across the United States. A growing interest in these firearms scanners has accelerated after recent events such as the school tragedy that occurred in Uvalde, Texas.

Ultimate Sports will continue to blend Sannabis products with its men’s health and wellness services. The company will be releasing more information soon.

 

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