Item 2.01 - Completion of Acquisition or Disposition of Assets.
Acquisition of CBD Assets from CannabidiolHemp
On November 15, 2019, Kid Castle Educational Corporation, through its wholly
owned subsidiary, Cannabinoid Bioscinces, Inc. completed the acquisition of
CannabidiolHemp (CannabidiolHemp.net), a premium CBD quality aggregator and
standard validator. This is the beginning of many acquisitions to build Kid
Castle into a major "pure-play" CBD operation in the United States and Canada.
Starting with CBD distribution channel, like CannabidiolHemp, Kid Castle is well
on its way to become the most vertically integrated "pure-play" CBD operation in
the United States and Canada. Once we have gained a good footing on the CBD
distribution channel, we would then move our acquisition machine towards the CBD
supply-chain to ensure full vertical integration. Control of CannabidiolHemp
will help Kid Castle in establishing a solid position to lead the
standardization of Farm Bill compliant hemp-based medicinal products to serve
the rapidly growing CBD market - a segment some analysts have predicted will
soar to $11 billion by 2026.
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Kid Castle Educational Corporation (OTC: KDCE) controls and manages Cannabinoid
Biosciences, Inc. ("CBDZ"), a California based Biopharmaceutical Company seeks
to revolutionize and standardize the pharmaceuticals and non-pharmaceutical CBD
products formulations and applications across the CBD market in the United
States of America. Through Cannabinoid Biosciences, Inc. (CBDZ) Kid Castle
plans to push into the legal CBD business that includes: (1) Ownership interest
in certain businesses that extract, purchase and distribute Bulk Pure CBD,
Isolate, Hemp Oil, THC-free CBD Distillate and Crude CBD Oil; (2) Partnerships
with local farmers to grow farm bill compliant hemp biomass; (3) Partnerships
with extract facilities across the U.S. who manufacture hemp-based ingredients
to meet the specific needs financial products in form of asset-backed loans,
business property mortgages and other financial products to qualified
individuals/businesses in the legal-CBD businesses.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press release dated November 18, 2019
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