VANCOUVER, BC / ACCESSWIRE / November 7, 2023 / Final Bell Holdings International Ltd. (the "Company") is pleased to announce that its wholly owned subsidiary, Final Bell Holdings Inc., has entered into a definitive asset purchase agreement (the "APA") with GSW Creative Corporation, d/b/a "dosist", and its subsidiaries (collectively, "dosist") for the acquisition of substantially all of the assets, including the intellectual property portfolio, of dosist.
dosist is a globally recognized brand that holds a comprehensive intellectual property portfolio covering global trademarks, design patents, and a global utility patent covering a proprietary dose-controlled vaporization process and related products. dosist is perhaps best known for its dose-controlled vaporizers which Time Magazine recognized as one of the 25 best innovations of 2016, its fast-acting cannabis gummies, and its unique effects-based products which demystify cannabis by offering special formulations targeting specific need states like calm, bliss, sleep, and arouse. Upon closing of the acquisition, the Company plans to immediately integrate the dosist assets into its end-to-end solutions and systems architecture, and bring the brand to new markets.
"Final Bell has been deeply involved with dosist's business over the years as trusted trading partners, and we are excited to take that relationship to the next level by handing them the reins," commented Jason DeLand, founder of dosist. "This is not a decision we come to lightly, we are compelled by the strong vision that the Final Bell team has for the future of the brand, and are confident that they can make it a reality based on their track record of helping brands scale efficiently without sacrificing quality or compromising its values."
The purchase price for the assets will be paid solely through the assumption of dosist's liabilities on terms acceptable to the purchaser. Closing of the APA is scheduled to occur shortly, and is subject to the satisfaction or waiver of conditions customary for transactions of this nature, including but not limited to receipt by dosist of shareholder approval.
About Final Bell Holdings International Ltd.
The Company operates a highly competitive consolidated group of businesses providing end-to-end solutions to leading cannabis brands through integrated product development, manufacturing, and supply chain management, including in the design and technology space, offering industrial design, engineering, manufacturing, branding, and child-resistant packaging solutions for cannabis vaporizers, edibles, and related products. The Company represents a new paradigm for the legal cannabis industry on a global scale: the ability to fully outsource production and manufacturing of state-of-the-art hardware, packaging, licensed co-manufacturing, and product commercialization to a single partner.
For further information, please contact:
Kay Jessel
Executive Director
604.365.6099
IR@finalbell.com
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. The use of words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words are used to identify forward-looking information. In this news release, statements constituting forward-looking information relate, among other things, to: completion of the APA, timeline of closing of the APA and the satisfaction of any conditions precedent to the APA. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, the risk that the conditions precedent to closing the APA may not be satisfied in the timeframe expected or at all, that the assets acquired by pursuant to the APA may not provide the expected benefits to the Company, as well as those risks described in the Company's other filings with the securities regulatory authorities, which have been filed on the Company's profile on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. The Company does not intend, nor undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except as required by applicable securities law.
SOURCE: Final Bell Holdings International Ltd.
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