Cannabis Global, Inc. completed the acquisition of 18.8% stake in Natural Plant Extract of California, Inc. from Edward Manolas for $1.7 million.
January 28, 2021
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Cannabis Global, Inc. (OTCPK:CBGL) entered into a material definitive agreement to acquire 18.8% stake in Natural Plant Extract of California, Inc. from Edward Manolas for $1.7 million on January 24, 2021. As part of the transaction Cannabis Global will acquire 0.266667 million common stock in exchange of 11.383929 million restricted common shares.
Cannabis Global, Inc. (OTCPK:CBGL) completed the acquisition of 18.8% stake in Natural Plant Extract of California, Inc. from Edward Manolas on January 27, 2021.
Cannabis Global, Inc. manufactures and distributes various cannabis products through its ownership of Natural Plant Extract, Inc. The Company is engaged in developing the Ethos Comply Bag and conducts research and development in the areas of hemp, cannabis, and consumer food goods. It operates and manages Natural Plant Extract of California, Inc. (NPE) which holds two active California cannabis licenses: a Type 7 manufacturing license and a distribution license. These licenses allow NPE to distribute cannabis products in the State of California. These products included several types of cannabis products, including Cannabis flower packaged in various weights, which are sold to California licensed cannabis retailers and distributors; cannabis pre-rolls, which are sold to California licensed cannabis retailers and distributors, and cannabis edible products, which are sold to California licensed cannabis retailers and distributors.
CANNABIS GLOBAL, INC. 
