Cannabis Capital Corp. (OTCBB:CBCA) signed share purchase agreement to acquire all rights, assets, technology, intellectual property, titles and interest in WebCongress Inc. from Ouali Benmeziane, President of WebCongress for $1.9 million on April 15, 2014. The consideration includes issuance of 0.1 million Cannabis Capital restricted common shares to the sole owner and President of WebCongress for 100 shares of WebCongress. Post completion, WebCongress will become a wholly-owned subsidiary of Cannabis Capital. Cannabis Capital and WebCongress' got the approvals signed from the Directors and majority shareholders' to consummate this agreement. The transaction is conditional upon accuracy of all representations and warranties in all material respects. Also, agreement has been signed to appoint all the executives to serve as employees or consultants of Cannabis Capital. The transaction is expected to close on or before May 1, 2014 following the satisfaction or waiver of each of the conditions. In situation of termination of agreement, due to adjudicated material breach of the Agreement within three years of closing Ouali Benmeziane will regain the ownership of Webcongress.

Cannabis Capital Corp. (OTCBB:CBCA) completed the acquisition of all rights, assets, technology, intellectual property, titles and interest in WebCongress Inc. from Ouali Benmeziane, President of WebCongress on May 1, 2014.