Adam JacksonInternational Star Inc. (OTC: ILST) announced today its purchase of a 20% stake in a new film production firm, B Studios.
This acquisition follows ILST’s previous takeover of Budding Equity and the involvement of Budding Equity‘s CEO, Dan Rubin, in the film “All My Friends Are Dead.”
The latest foray is part of ILST’s strategy to broaden its presence in the cannabis-themed entertainment sector, according to a news release Monday. Further details regarding the transaction will be provided in subsequent announcements.
“We structure licensing deals with third parties for cannabis-related products,” the company said on its website, adding that it capitalizes on the cannabis royalty market.
In a statement, Rubin stated that this investment allows ILST an opportunity to expand its portfolio within the cannabis sector.
“Our investment in B Studios not only allows us to diversify but also to manage a holistic portfolio of intellectual properties in the cannabis space,” Rubin said.
“It’s a synergistic approach that will undoubtedly create more value for our shareholders.”
ILST said it intends to use its expertise in the cannabis and entertainment sectors to support B Studios’ endeavors, aiming for accelerated project completions.
ILST’s has previously collaborated with various celebrity cannabis brands such as Ice Cube’s Good Day and Fryday lines, Kevin Smith’s product offerings, and others. The firm also worked with big film names like Paramount’s Cheech and Chong Up in Smoke.
“Some of the products we are currently exploring include new limited edition and collectible smoking products, animal novelty products, rolling and processing equipment, movie brand and product placements, and patented production processes,” the firm said on its website.
“We are open to acquiring stakes in or outright purchasing existing businesses that are positively cash flowing, or exploring our own product development in these unique spaces.”
According to the release, recent shifts in strategy indicate a focus on developing proprietary brands, “from relying solely on third-party IP to creating its own, granting more control over products and fostering innovation. This shift enhances its market position and competitive edge.”
