Kuboo, Inc. & Northsight Capital Announce a Letter of Intent for Northsight to Acquire Approximatley 7,000 Marijuana Related ...
March 04 2014 - 9:46AM
Marketwired
Kuboo, Inc. and Northsight Capital Announce a Letter of Intent for
Northsight to Acquire Approximatley 7,000 Marijuana Related Domains
Northsight Intends to Acquire Approximately 7,000
Marijuana/Cannabis/Hemp Domains and an Ad Site for the Cannabis
Industry
SCOTTSDALE, AZ--(Marketwired - Mar 4, 2014) - Kuboo, Inc., (OTC
Pink: SGTB) dba Safe Communications, Inc. ("Safe"), and Northsight
Capital, Inc. (OTCBB: NCAP) (OTCQB: NCAP), announced today that
Northsight Capital ("NCAP"), Safe's 80% owned subsidiary, has
signed a letter of intent to acquire approximately 7,000 domains,
all in the marijuana/cannabis/hemp space. NCAP is expected to
change its name to "The Marijuana Advertising Group" after
completion of the transaction. Safe is expected to retain
approximately ten percent of the fully diluted equity of NCAP,
after giving effect to the acquisition and related transactions,
including anticipated initial funding in the amount of $1 million,
while the seller of the Domains is expected to own about 80% of
NCAP after completion of these transactions. Following completion
of the proposed acquisition, Safe anticipates spinning off to its
shareholders all of its shares of NCAP, subject to compliance with
applicable securities and other laws.
The closing of the acquisition is subject to satisfaction of
certain conditions, including NCAP raising a minimum of $750,000 to
fund the build out of the website, among other things. The letter
of intent is non-binding, except as to confidentiality and similar
non-transactional provisions.
The proposed business model will be that of Yellow Pages for the
marijuana industry. The domains consist of Cannabis, Marijuana,
Medical Marijuana, Hemp, Pot, Weed, Dispensaries, Directory's,
Growers, Suppliers, Distributors, Market & Supermarkets,
Stores, Shops, Shack, Hut, Bakery, Edibles, Snacks, Medical
Marijuana Physicians, etc.
There are between 90 and 120 individual listings for every
state. The following are some examples for Washington State:
WashingtonMarijuanadirectory.com,
MarijuanaDirectoryWashington.com
MedicalMarijuanaDispensaryWashington.com
MedicalMarijuanaDispensariesWashington.com
TheBestMarijuanaDispensaryInWashington.com
WashingtonMedicalMarijuanaDispensariesDirectory.com
BestMarijuanaDispensaryInWashington.com
MarijuanaEdiblesWashington.com
WashingtonMarijuanaEdibles.com
BestMarijuanaInWashington.com TheBestMarijuanaInWashington.com
WashingtonBestMarijuana.com
NCAP believes that the marijuana/cannabis/hemp industry is one
of the fastest growing in the country and is expected to be a
multi-billion industry over the next decade.
About Northsight Capital, Inc.: Northsight Capital, Inc. is
currently a shell company within the meaning of applicable
securities laws, and has been seeking out merger and acquisition
candidates.
About KUBOO, Inc.: KUBOO, Inc. (dba Safe Communications, Inc.)
provides open and secure family communications that are in step
with today's digital world. While protecting our most precious
asset, our children, our systems are designed to enhance the
quality and frequency of day-to-day communications among family
members and approved friends. We allow users to experience the
marvel of advanced technology without fear or danger.
KUBOO Inc.'s offerings are designed for the modern family on the
go. KUBOO.COM is the first child safe virtual world offering games,
edutainment, controlled chat, multiple channel online streaming --
all on the same platform. Early detection devices warn parents of
potential abuse and inappropriate content, allowing secure, open
exchange with loved ones and friends. KUBOO.COM designs products so
that your children can enjoy the electronic ride without being
exposed to potential harm or abuse. For more information, contact:
info@safecommunications.com or visit us online at
www.KUBOO.com.
Forward-Looking Statements Various statements in this release,
including those that express a belief, expectation or intention,
may be considered "forward-looking statements" that involve risks
and uncertainties that could cause actual results to differ
materially from projected results. Accordingly, investors should
not place undue reliance on forward-looking statements as a
prediction of actual results. The forward-looking statements may
include projections and estimates concerning the timing and success
of specific projects or transactions. Forward-looking statements
may also include projections and estimates concerning our future
operating results and financial condition. When we use the words
"will," "believe," "intend," "expect," "may," "should,"
"anticipate," "could," "estimate," "plan," "predict," "project," or
their negatives, or other similar expressions, the statements which
include those words are usually forward-looking statements. When we
describe strategy that involves risks or uncertainties, we are
making forward-looking statements. The forward-looking statements
in this press release speak only as of the date of this press
release; we disclaim any obligation to update these statements. We
have based these forward-looking statements on our current
expectations and assumptions about future events. While our
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond our control.
Contact: Safe Communications, Inc. John Venners CEO
480-385-3893
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