Bougainville Ventures Inc. Signs LOI to enter in to Funding and Asset Purchase Agreement up to 39% with Thrive Nutrition Prod...
BOUGAINVILLE VENTURES INC. (CSE: BOG) (FRA: 8BV) (DEU: 8BV)
(MUN: 8BV) (STU: 8BV) ("Bougainville" or the
is pleased to announce that it has signed
a letter of intent (LOI) to provide funding and to acquire up to
39% of the assets and inventory of Thrive Nutrition Products
Ltd. (Thrive Wellness). Thrive Wellness is a preeminent distributor
of hemp & cannabinoid-focused natural health products under the
“THRIVE WELLNESS” brand. The final evaluation will be determined by
an independent third party evaluator, which is currently in
progress. The Company will acquire up to 39% of Thrive Wellness
assets and current inventory. The consideration is to be payable in
such number of common shares in its share capital ("Consideration
Shares") at a per share price equal to the volume weighted average
price of such shares on the Canadian Securities Exchange over a
15-day period ending on the day such Consideration Shares are
required to be issued ("15 day VWAP").
Thrive Wellness is a distributor of premium hemp and natural
health products with operations currently in Canada and the USA.
Thrive specializes in the development, marketing and distribution
of cannabinoid products refined into their own natural health
product brand. The company was founded in Vancouver, British
Columbia and is the first of its kind with national retail
distribution in Canada. Thrive has achieved $2,500,000 CND in sales
through retail distribution, its’ e-commerce website and their
relationship with Nutrition House, Canada's leading Natural Health
Product franchise. Founded in 1979 the company began franchising in
1993 and now operates over 45 retail stores, located in high
profile shopping centers across Canada, and in the USA.
“We are honored to supply our retail partners with premium Hemp
products,” says Andy Dhaliwal, President of Thrive Wellness. “Our
commitment to quality, transparency, and wellness will ensure
customers receive the best products available. We look forward to
working with Bougainville to bring high quality, innovative Hemp
products to US and International markets.”
Bank of America projects a spend of $1.3 Billion on CBD in
Canada by 2022, while $1.9 Billion is being spent in the USA
currently, and another $4.4 Billion in Europe this year. Demand for
CBD and Hemp is increasing year over year, with Merrill Lynch
predicting an $11.5 Billion American market by 2032.
Andy Jagpal, President Comments:
“This LOI is a first step in Bougainville and Thrive’s vision to
lead the sector in this global opportunity The Thrive Wellness
brand and Mr. Dhaliwal bring the sales & distribution
experience and contacts needed to succeed in this fledgling natural
health & CBD market.”
About Thrive Nutrition Products Ltd.
Thrive Wellness is a preeminent distributor of premium hemp
& natural health products with a global distribution footprint.
A trusted brand of wellness products with mind share as well as
market share, Thrive has driven value with their pioneering
expertise in the emerging CBD market.
About Bougainville Ventures, Inc. Bougainville
Ventures Inc. is dedicated to rapid growth in production,
processing, retail and branding of cannabis and cannabis related
products. Currently the company provides strategic capital to the
thriving cannabis cultivation sector through ownership and
development of commercial real estate properties. We offer fully
built out turnkey facilities equipped with state-of-the-art growing
infrastructure to cannabis growers and processors. Also, the
Company is focused on building a strong presence in the hemp
industry with the objective of extracting cannabinoids in both
Canada and the United States. Along with our flagship Hemp project
in Oregon State and the Greenhouse campus in Washington state, the
Company has proprietary formulas for cannabis edibles, topical, and
On behalf of the Board of Directors BOUGAINVILLE
Andy Jagpal, President and Director
For further information, please contact Andy Jagpal
at email@example.com. Please note that our Toll free
number has changed to 1-877-517-7816.
FORWARD LOOKING STATEMENTS: This news
release contains certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements are
based on the expectations and opinions of the Company’s management
on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise.
No regulatory authority has approved or disapproved the
information contained in this news release.