Vancouver, BC, CANADA (20 February 2019) – PRESS RELEASE – Weekend Unlimited Inc., having announced the signing of a definitive agreement on Feb. 13, 2019 to acquire R&D Pharma’s Jamaican interests, has completed the arms-length acquisition of R&D Pharma.
“We are thrilled to join the tremendous team at Weekend Unlimited under Paul Chu’s leadership. With our Tier-3 cultivators license, our active focus is on medical tourism in Jamaica, having designed and constructed the first of our ‘Ganja Café’s’ within a short tour bus ride from the cruise ship terminals in Ocho Rios,” said Richard Bailey, president of R&D Pharma.
“We just completed a harvest last week on our 98-acre property to stock the Ganja Café for first tourism visits beginning on May 15. The Ganja Café will be stocked with branded Jamaican strains, extracts and infused products that will serve as a precursor to our future wholesale distribution in Jamaica and internationally,” added Bailey
Weekend issued 80 million shares at a deemed price of $0.25 as well as making available 25 million warrants to the shareholders of R&D Pharma. Each warrant entitles the holder to acquire an additional share for $0.35 for a period of two years. Approximately 49 million shares are subject to a voluntary escrow agreement that sees 20 percent released at closing and the balance in six equal installments over three years.
