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Hemp Technology Closes Acquisition of True Leaf Pet Assets
Wednesday 16 September 2020

US-based holding company Hemp Technology Inc. (OTCBB: HPTY) has closed a purchase and sale agreement dated August 11, 2020, to acquire substantially all of the assets of pet care company True Leaf Pet Inc, the company said.

The closing of the transaction pursuant to the sale agreement was subject to approval by the Court of the transaction within 30 days of the execution date.

Hemp Technology Inc. will commence reporting revenue in this subsidiary in the second quarter 2020 financials.

Hemp Technology Inc. operates and intends to further obtain a diversified portfolio of subsidiary companies.

With a range of assets, products, and ancillary offerings in the hemp and related industries, the company's fluid business model is positioned to capitalise on, and quickly adapt to, changing market conditions.

HPTY has employees/consultants, operations, and subsidiaries in the hemp, and ancillary product industry in both Canada the US and Europe.

TLP, the company has over 40 products and it plans to sell globally, primarily North America and Europe via e-commerce, distributors, wholesalers, and in retail stores.

With an existing similar pet product division Pettanicals Performance pet supplements and a team that has direct experience with comparable products in the hemp for pet's industry, HPTY's understanding of the market is integral to the continued development and support of the True Leaf Pet brand and its goals for product distribution and line expansion.

True Leaf Pet Inc., is a global pet care company offering high quality plant-focused wellness products.
Date Published: 16/09/2020