The acquisition agreement assumed essentially all of KZ1’s operating assets for a purchase price of $5 million, with a cash closing of $150,000 and conditional obligations to KZ1 of $4.85 million, which will be paid out through royalties and sales overrides in the future.
– The combining of these two companies’ products and distributor genealogies will have an immediate positive effect on revenue in Japan. I am so excited for Kannaway and KZ1 distributors coming together with such a strong message of hemp and wellness – said Bill Andreoli, Kannaway president.
