MJardin Terminates the Acquisition of Cannabella

by ahnationtalk on June 1, 202068 Views

TORONTO and DENVER, May 29, 2020  — MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, announced today that it has terminated its previously announced acquisition of Carson City Agency Solutions, dba Cannabella (the “Acquisition”), a producer of edibles and topicals located in Carson City, Nevada.

The Acquisition, which was expected to close in late 2019, could be terminated by the parties if the transaction hadn’t closed by April 2020. Given the delay in transferring the license, the Company elected to terminate the Acquisition. The Company and the vendor are in discussions regarding fees, expenses, and the status of the deposit consideration made in respect of the Acquisition.

About MJardin Group

MJardin Group’s mission is to set the standard for successful ownership and management of assets in the cannabis industry. Our Colorado founders spent a decade refining cultivation methodology, collecting and implementing data driven standards and designing state of the art facilities. Today, MJardin owns or manages multiple operations in two US states and three Canadian provinces, supplying the market with premium products. We are committed to our Canadian First Nation joint ventures and all our partnerships across the cannabis supply chain. MJardin is publicly listed on the CSE (MJAR) and the QXOTC (MJARF) with offices in Denver, Colorado and Toronto, Ontario. For more information, please visit www.mjardin.com

The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

INVESTOR CONTACT:

Ali Mahdavi

Capital Markets & Investor Relations

416-962-3300

Ali.mahdavi@MJardin.com

Pat Witcher
Chief Executive Officer
720-613-4019

NT4

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