Wee-Cig International Corporation WCIG has entered into a definitive agreement for the acquisition of a controlling interest in The Jamaican Brew House.
The Jamaican Brew House has developed a patent pending technology, for a neutral liquid base made from cannabis that can be used in a range of food and beverage applications. JBH plans to begin commercial sales of its products in fiscal 2023.
"We are excited to announce entry into a definitive agreement to acquire a controlling interest in The Jamaican Brew House,” stated Efraim Babayov, president of Wee-Cig. “Kickstarting commercial sales for The Jamaican Brew House products is expected to be the focus of Wee-Cig in 2023. I believe this acquisition will provide tremendous value to our company and shareholders."
Concurrent with the closing of the definitive agreement with JBH, Babayov, sole officer and director of the company will resign all positions, and Ruben Yakubov shall join the board of directors of the company, as a director and chairman of the board along with assuming the role of corporate secretary. Erin Winczura, sole officer and director of JBH, shall be appointed CEO, president and treasurer as well as to the board of directors of the company. Closing is expected to occur no later than February 10, 2023. Under the terms of the definitive agreement, each of Yakubov and Winczura, and their controlled entities, will receive a minimum of 19.44 million unregistered, restricted common shares of Wee-Cig.
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