InvestmentPitch Media Video Discusses Mota Ventures' Acquisition of European Certified Organic & Ecological CBD Company Sativida - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 14, 2020) - Mota Ventures Corp. (CSE: MOTA) (FSE: 1WZ) (OTC PINK: PEMTF) has signed an agreement to acquire Spanish-based VIDA BCN LABS SL and Estonia-based Sativida OU, collectively known as Sativida. Sativida (www.sativida.es) is a producer and online retailer of CBD and branded CBD products in various jurisdictions in Europe, including Spain, Portugal, Austria, Germany, France and the United Kingdom.
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In addition to retailing a vast range of organic CBD oils and cosmetics across Europe, the company is in the process of expanding its distribution network internationally to include the United States. As the number one search-ranked online retailer of CBD products in Spain and Mexico, the company intends to continue its expansion into Latin America.
Joel Shacker, CEO, stated: "We are excited to be at the forefront of the expansion of the CBD market in Europe and internationally. Currently, product availability and consumer awareness is in its infancy and the market is fragmented. The acquisition of an established brand such as Sativida is a great opportunity to both enter and expand in Europe. Using our newly formed and integrated infrastructure, we plan to rapidly capture market share and consolidate consumer bases across Europe. Sativida is the cornerstone for our entry into that market."
The acquisition of Sativida will proceed in stages, at Mota Venture's discretion, as certain corporate and intellectual property registrations are completed. Mota will provide Sativida with contacts to distributors and partners across Europe and North America, as well as logistical and financial support, to expand the Sativida brand.
Consideration for the acquisition will be made up of an initial component of €2,000,001, and an earn-out component made up of three milestone payments based upon the revenue of Sativida, all payable in shares, which will be capped at €14 million in value. For more information on the transaction please refer to today's news release.
Management believes low cost production, coupled with international, direct to customer sales channels will provide the foundation for the company's success as it moves toward becoming a vertically integrated global CBD brand. The company plans is to cultivate and extract CBD into high-quality value added products from its Latin American operations and distribute it both domestically and internationally.
Its existing operations in Colombia consist of a 2.5-hectare site with Phase 1 consisting of a state of the art 60,000 square foot greenhouse with the capacity to produce more than 14 million grams per year along with build out of the company's extraction facilities. The company anticipates a production cost of below $0.20 per gram, much lower than production costs in the industrialized countries.
Mota is also seeking to acquire revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products.
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Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51433