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Target Group to Acquire CannaKorp to Expand Cannabis Operations
Friday 08 February 2019

8 February 2019 - Canada-based cannabis acquisition company Target Group Inc. (OTCQB: CBDY) has agreed to acquire Massachusetts-based CannaKorp Inc. creator of the patent-pending WISP vaporising system, the company said.
Terms of the transaction were not disclosed.
Target Group is acquiring CannaKorp's operations in the United States and Canada.
The acquisition will facilitate Target Group's expansion of cannabis operations, and position the company's brand portfolio for global distribution.
Target Group will continue executing its global expansion strategy, which is focussed on acquiring and developing quality cannabis brands and solidifying long-term growth and stability in vital markets across the globe.
Target Group Inc has identified a significant opportunity for growth within the wellness sector. Combining WISP natural herbal botanical pods with CBD (Cannabidiol), will allow WISP to develop a range of proprietary blends that will be available for sale within the broader American mass market immediately.
Target Group, Inc. is a diversified and vertically integrated cannabis acquisition company that is expanding global operations to build an international network of manufacturing, distribution, production and sales.
CannaKorp, Inc. is a Massachusetts-based technology start-up company that is simplifying and improving the experience for consumers interested in vaporising natural herbs.
Date Published: 08/02/2019
Target: CannaKorp Inc
Country: USA
Sector: Food/Beverages/Tobacco
Type: Corporate acquisition
Status: Agreed
Buyer: Target Group Inc
Terms of the deal were not disclosed