TORONTO, Jan. 22, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- Two Hands Corporation, a custom application development company, has agreed to purchase 100 percent of the license to grow, export and hold cannabis and CBD derivatives in Colombia from Plantro Inc S.A.S.
Under the terms of the agreement, the company will pay ten million restricted shares of common stock and a 15-percent royalty based on net income. The purchase is expected to close on Feb. 15, 2019, subject to the conditions in the 8-k filed on Jan. 17, 2019 with the SEC at www.sec.gov.
CEO of Two Hands, Nadav Elituv, commented, “Colombia has become a highly sought after jurisdiction for cannabis cultivation activities, it has world leading acceptance, ideal growing conditions, and an immense market. The agreement is an opportunity to see our company add production capabilities in the fast growing world markets of health and wellness, with a CBD focus allowing us to offer a wide range of products. We expect better access to institutional investors and a broader shareholder base through the addition of this license."