Wealthcraft Capital, Inc. (OTCPK:WCCP) entered into a binding letter of intent to acquire a controlling interest in Infinite Product Company LLC for $25.8 million on July 25, 2019. Under the terms of the letter of intent, Wealthcraft will acquire a controlling interest in Infinite in exchange for $2 million in cash plus 32.4 million common shares of Wealthcraft. Under the Proposed Acquisition, the founders of Infinite CBD will continue to operate the business and will play an integral role in future acquisitions and strategic partnerships. The founders will have a $6 million performance-based earnout payable in cash and common shares. Commencing in April 2020, Wealthcraft will have an option to purchase up to 97% interest in Infinite at a valuation based on historical EBITDA performance. The completion of the proposed transaction is subject to number of conditions and a number of business and approval conditions. Wealthcraft Capital, Inc. (OTCPK:WCCP) cancelled the acquisition of controlling interest in Infinite Product Company LLC on August 26, 2019.