NewBridge Global Ventures, Inc. (NBGV) announced that it has acquired cannabis education company Elevated Portfolio Holdings, LLC in an all-stock transaction.
Elevated Education, Inc. will acquire the assets of Elevated in exchange for 2,000,000 shares of company common stock. Elevated Portfolio is a company that offers medically focused education modules for physicians and clinicians as well as significant training regarding the body’s endocannabinoid systems and the use of cannabis for health and wellness.
Once closed, Elevated Education will be managed by the current NewBridge management team as well as key members from Elevated. This acquisition will be the first of what the company plans to be a series of acquisitions as part of its strategy to acquire industry leading companies in the regulated cannabis education, cultivation, manufacturing and distribution verticals.
“Our acquisition of Elevated initiates our strategy of investing in and acquiring industry technologies and companies in our targeted verticals. We’re excited to help expand the Elevated brand and offerings,” commented Mark Mersman, Chief Executive Officer of NewBridge Global Ventures. “We believe there is a significant need for medical professionals to become more informed on the endocannabinoid system and that bridging that gap between patient demand and healthcare provider knowledge is key to the growth of the emerging medical cannabis industry.”
SinglePoint Aquires Stake
SinglePoint Inc. (SING) announced that it has signed a Letter Of Intent to acquire a stake in California cannabis cultivation MTH Development Group. MTH currently operates 4.7 acres of land zoned for cannabis cultivation. SinglePoint has invested in the company in return for an equity stake. Currently the company leases its properties to licensed cultivators and operates one of the largest cultivations in Adelanto, California. This deal will further establish SinglePoint’s California footprint.
“We are excited for this opportunity. Having been to the operation and seeing their proprietary cultivation procedures we feel this is a great investment for SinglePoint. Part of this investment is to also test our new technologies with their tenants to improve as well as validate our systems. Their feedback will help us build the right solution and navigate the California market regulations”, states Wil Ralston President SinglePoint.