Montana Apothecary LLC and DC’s Finest, LLC cultivate medical marijuana for the Washington, D.C., area. Company plans to expand into other markets following closing of acquisition

 

Washington, D.C. / TheNewswire / February 26, 2018 – VuMee Inc. (OTCMKTS: VUME) (“VuMee”) today announced that on February 23, 2018, it entered into a Share Exchange Agreement by which it plans to issue its common stock in exchange for 100% of the equity interests in each of Montana Apothecary, LLC (d.b.a. Alternative Solutions Cultivation Center) and DC’s Finest LLC (the “Target Companies”). Montana Apothecary LLC develops and operates medical marijuana cultivation centers which sell to fully-licensed medical marijuana distributors in the Washington, D.C., metro area. The company currently operates an 18,000 square foot cultivation center, and is developing a second cultivation center, both within Washington, D.C., city limits. DC’s Finest, LLC owns licenses and permits to cultivate medical marijuana but currently does not engage in cultivation operations.  

 

Vumee President and CEO Sean Jahanian said, “Upon the closing of the share exchange, VuMee plans to issue an amount of common stock which would result in the members of the Target Companies owning a majority of the voting stock of VuMee. The Share Exchange Agreement also obligates VuMee to provide operating capital for the Target Companies, and to renegotiate the Target Companies’ existing debt obligations.” The Share Exchange Agreement contains standard representations and warranties, covenants and closing conditions and may be terminated in the event that either party cannot meet its closing obligations within 90 days. The parties intend to close the share exchange in the first quarter of 2018.

 

In addition to serving the Washington, D.C., market, the Target Companies plan to expand into other domestic and international markets.

 

Forward Looking Statements

 

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