Through this acquisition, MediaCentral will be able to leverage this platform to expose its 6.5 million readers to the rapidly emerging online cannabis and CBD market and open new avenues of monetization for the Company.
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Video Transcript:
I’m Cassandra Bolinski for Investmentpitch Media
Media Central Corporation has entered into a binding letter of intent to acquire Budtree Corp.
Established in 2016, Budtree, a dynamic online hub for vendors, merchants, customers and connoisseurs of cannabis, offers a safe and secure directory and marketplace for cannabis enthusiasts to uncover new products in both the medical and recreational market.
Budtree has invested nearly $2 million in its proprietary web platform.
Through this acquisition, MediaCentral will be able to leverage this platform to expose its 6.5 million readers to the rapidly emerging online cannabis and CBD market and open new avenues of monetization for the Company.
Brian Kalish, CEO, stated: “Acquiring Budtree.com is a natural extension to our business model for Canncentral.com. This opens up an immediate revenue generating opportunity to merge CannCentral's daily enthusiastic cannabis readers directly with an established ecommerce platform. With this acquisition our loyal readers will be able to easily purchase the cannabis products they are learning about on our site."
The latest planned Acquisition of Budtree.com follows MediaCentral's aggressive strategy to create and acquire a strong portfolio of brands with a likeminded audience to consolidate an audience of 100 million, unifying a powerful demographic through cutting-edge content, events, social media and programmatic advertising.
Budtree.com will join Vancouver's Georgia Straight, Toronto's Now Magazine, CannCentral.com, and ECentralSports.com as brands under the MediaCentral umbrella.
Ray Rasouli, CEO of Budtree, added: “We have always wanted to offer our consumers a safe and secure way to access cannabis products. Now, with CannCentral, we will be able to leverage award-winning writers and content producers to showcase and educate consumers on our diverse product. We are aligned with the vision MediaCentral sees for Budtree and are excited for the next phase of our company."
Canncentral, a wholly owned subsidiary of Media Central providing unique daily content appealing to both new and experienced cannabis consumers, is emerging as an industry leading authority on knowledge, product and insight for cannabis enthusiasts, patients and investors around the world.
Upon completion of due diligence, audit, and regulatory approvals, MediaCentral will issue approximately 85.5 million shares to the shareholders of Budtree, which will become a wholly-owned subsidiary.
Additionally, Media Central will complete a $1,000,000 private placement at a price of $0.033, with MediaCentral responsible for 50% of the private placement and Budtree responsible for the remaining 50% portion of the Private Placement.
The shares are trading at $0.025
For more information, please visit the company’s website www.MediaCentralCorp.com.
For investor relations email investors@MediaCentralCorp.com.
I’m Cassandra Bolinski for Investmentpitch Media
