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Novation Holdings to Acquire Legends of Hemp and TerraVida CBD
Wednesday 24 November 2021

US-based holding company Novation Holdings, Inc. (OTC: NOHO) has executed a letter of intent to acquire US-based CBD manufacturing and branding company Legends of Hemp, LLC and CBD products maker GMTRV, LLC d/b/a TerraVida, the company said.

Under the terms of the LOI, upon the successful completion of Novation's due diligence and preparation of definitive agreements implementing the LOI, the company intends to acquire all of the outstanding ownership interests of both Targets in exchange for shares of Novation's common stock.

Further, Novation will assist in the growth, strategy, financing, and development of each of the Targets' respective brands.

It is also anticipated that Novation will appoint and elect some of the Targets' key management and personnel to serve as both officers and on the company's board of directors.

Legends of Hemp was founded by cannabis industry veterans who have collectively been involved in dozens of successful businesses in both the cannabis and entertainment industry.

LOH brings together the experiences in these two industries to create a platform for various artists and entertainers to launch and sell their own hemp-derived and customized cannabinoid products.

Between their internal manufacturing capabilities and the additional capabilities of their strategic partners throughout the supply chain, Legends of Hemp can produce virtually any hemp-derived product to both be branded and marketed to suit any artists desired identity.

TerraVida meaning "Earth Life" located in the rolling hills of Colorado. TerraVida exists out of a passion for improving one's daily life with Earth's natural remedies.

Novation Holdings, Inc. is multi-strategy holding company focused on identifying, developing, acquiring, and bringing to market technologies and solutions across all market sectors.

Currently, the company is searching/researching for new investment opportunities, with a principal business objective of either investing into and starting up new business opportunities or acquiring all or part of an existing business that will strengthen the company's balance sheet and increase shareholder value.

The company is not limited to any particular industry or geographic region for purposes of making an investment or an acquisition.
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Date Published: 24/11/2021

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