Pure Global Closes GCHC Acquisition and Enters into Global Distribution Deal

Published: June 14, 2019

Pure Global Closes GCHC Acquisition and Enters into Global Distribution Deal

Pure Global Cannabis Inc., an integrated growth-oriented sciences and consumer products cannabis company, operating through its wholly-owned subsidiary PureSinse Inc., announced they closed on the acquisition of The Great Canadian Hemp Company, Ltd. (“GCHC”) along with the completion of a supportive and strategic distribution agreement with Eurocan Trading – PFoods SA Joint Venture Group (“Eurocan”). Eurocan is a brokerage and sales agency that has established relationships with major retailers in the United States, Europe, and Asia.

The acquisition of GCHC will allow Pure Global to benefit from a holistic brand with a dedicated and loyal audience. It also allows Pure Global to leverage their internal capabilities to manufacture and sell organic, vegan, hemp-based, all-natural skin and hair products. With the help of Eurocan, Pure Global will now enter into the global high-growth health and wellness Consumer Packaged Goods (“CPG”) market with sights set on servicing the massive demand for hemp oil and CBD products.

“GCHC’s extensive line of unregulated CPG health and wellness products is the perfect compliment to our cannabis strategy,” said Pure Global’s President & CEO, Malay Panchal. “While medicinal cannabis remains a priority for us, the acquisition of a true wellness brand will gain us access to a global marketplace. We are very pleased to welcome the founders of GCHC, Edan Wolk and Melissa L’Heureux-Hache to the Pure Global family. Both bring a strong passion for promoting wellness and sustainability through their plant-based botanical line of products.”

To support this cornerstone acquisition, Pure Global is excited to announce an exclusive distribution agreement with Eurocan that covers several international markets. This distribution deal will give GCHC category exclusivity with Eurocan for its hemp oil and CBD infused health, beauty, food and beverage product lines, giving Pure Global a major advantage in the ever-expanding hemp and CBD markets in the United States, Europe, and Asia. The initial target markets will be Germany, Romania, United Kingdom, Japan, and South Korea, where there is a very high demand for Canadian CBD and hemp oil infused products. Eurocan currently represents over 70 brands, distributing products to the Canadian, European, American, and Asian markets with access to chains such as; Tesco, Carrefour, Whole Foods, Rewe, Auchan, Aldo, Metro, Costco Wholesale, PetSmart, Marks & Spenser, 7-Eleven, Walmart, among many others.

“It is certainly an exciting time for Pure Global as we now see our CBD and hemp oil strategy moving forward in a big way with extensive international distribution”, commented Pure Global’s President & CEO, Malay Panchal. “With the recent Farm Bill and changing regulatory landscape for CBD products globally, high quality hemp oil and CBD infused products represent a huge global opportunity for Canadian exports, in which we will continue to develop our business,” further added Mr. Panchal.

With the acquisition of GCHC, Pure Global remunerated GCHC shareholders with $560,000 with $60,000 payable in cash and $500,000 payable through the issuance of common shares in the capital of Pure Global at a price equal to $0.20 per share to be held in escrow and released pursuant to a 24-month schedule, as referred to in a news release issued by the Company on April 18, 2019.

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