Evergreen Licensing, an exclusive licensor of Tommy Chong marijuana, hemp and cannabis-related products, has agreed to be acquired by Bud Genius, Inc.
Bud Genius, Inc. (OTC: RIGHT), a licensee of celebrity-endorsed marijuana and hemp related merchandise, will manage licensing and distribution of Tommy Chong brand cannabis products in California. Their Press Release on the acquisition of Evergreen Licensing by Bud Genius, Inc is quoted below:
March 30, 2015
Bud Genius Announces LOI to Acquire Evergreen Licensing – an Exclusive Licensor of Tommy Chong Products
Company controls licensing rights in the nation’s largest cannabis market, with $1.3 billion in yearly sales
Bud Genius, Inc. (www.bgmedtech.com) (OTC: RIGH), a leading laboratory for cannabis testing and profiling, developer of data-driven rating systems for marijuana strains, brand and retail development specialist, and licensee of celebrity-endorsed marijuana and hemp related merchandise, announced today they have signed a Letter of Intent to acquire Evergreen Licensing – exclusive licensor of Tommy Chong marijuana, hemp, and cannabis-related products.
Under the terms of the agreement, Bud Genius will manage licensing and distribution of Tommy Chong brand cannabis products in California, as well as provide a variety of revenue-generating services, including:
- Bud Genius Labs will ensure Tommy Chong cannabis products meet stringent standards and maintain consistently high quality, serving as the quality control gateway for authorized cannabis products.
- Bud Genius will provide authorized cannabis collectives with approved Tommy Chong packaging and collateral, designed by the BG Brand Marketing Team.
- Bud Genius will directly distribute non-THC products, including smoking accessories, hemp-infused beverages, and other items to its current and future dispensary clientele, as well as traditional retail channels.
- Bud Genius will utilize their proprietary data collection system to build customer loyalty programs and retail business intelligence platforms for product refinements and charting consumer trends.
The agreement for Bud Genius produces revenue on the licensing of Tommy Chong THC products, and on the distribution of Tommy Chong non-THC products. The THC product distribution will occur only through authorized collectives and authorized farmers.
“We are pleased to have signed the Letter of Intent to acquire Evergreen Licensing – a team that we have known and respected for years,” said Angel Stanz, CEO of Bud Genius. “As many people know, Tommy is a cancer survivor and credits medical cannabis as a leading factor in his recovery. As such, he is personally committed to building the Tommy Chong brand into one of the premier brands in the industry. We are delighted and proud to be his partner in this quest.”
For more information on Bud Genius, call (855) 723-3283, or visit BGMedtech.com
About Bud Genius:
An early leader in the cannabis industry, Bud Genius is one of the first established analytical cannabis laboratories in the United States. Bud Genius launched to bring vendors together with doctors, patients, and dispensaries that require certified products held to demanding standards. Bud Genius’ mission is to expand across the US and abroad, serving as the beacon of quality for medical cannabis and adult-use marijuana through the formation of regional laboratories, strain certification, data collection, online reporting, and product development.
Cannabis Showroom: www.BudGenius.com
Forward Looking Statements:
This press announcement includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of company’s management and are subject to significant risks and uncertainties. Forward-looking statements can be identified by such terminology as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management’s expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, competitive factors, and other matters. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.