Target Group Inc. Completes Acquisition of Massachusetts-based CannaKorp, Inc., Makers of the Pod-Based WISP Vaporizer

Published: March 7, 2019

Target Group Inc. Completes Acquisition of Massachusetts-based CannaKorp, Inc., Makers of the Pod-Based WISP Vaporizer

Target Group Inc. has completed its acquisition of Massachusetts-based CannaKorp, Inc. in a stock-for-stock exchange. The acquisition was completed with 99.8% of CannaKorp shareholders approving and exchanging their shares for Target Group stock. Following the close of the acquisition, CannaKorp will continue its business operations as a subsidiary of Target Group. CannaKorp is the holder of the patent-pending WISP Vaporizing system.

The WISP™ is a pod-based herbal vaporizing system that uses precisely measured, sealed and tested WISP™ Pods containing dried, ground cannabis or botanicals and gives consumers the predictability and assurance to know what and how much they are inhaling every time, without the hassle of grinding, measuring, and packing, as with other flower-based vapor consumption devices. For the rapidly evolving market of cannabis consumers who prefer vaporization, Wisp presents a proven method of delivery with unique bioavailability benefits and avoids the health concerns associated with the combustion of cannabis and other herbs.

With this acquisition, Target Group is acquiring CannaKorp’s operations in the United States, enabling expansion of cannabis operations, and positioning Target Group for global distribution. The Company will continue executing its global expansion strategy, which is focused on acquiring and developing quality brands and long-term growth in crucial markets across the globe.

“We are very excited to close this strategic acquisition of CannaKorp, which will allow Target Group to expand our operations and brands in the US and around the world,” said Rubin Schindermann, Chief Executive Officer for Target Group. “The WISP™ is an innovative inhalation consumption device that will attract many mainstream consumers into both the medical and adult use cannabis, CBD and herbal remedy market because it is so convenient, consistent and easy to use. WISP™ Pods give us a platform to provide the market with unique and proprietary blends of whole flower vaporization products.”

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