Ultimate Sports has announced a definitive agreement to acquire Sannabis S.A.S. in Colombia. The Company also announces the appointment of Juan Paulo Guzmán and John Campo, Sannabis co-founders, to the Board of Directors. Mr. Campo is also the President of Ultimate Sports, Inc. Mr. Guzman will continue to run the day-to-day operations of Sannabis.
Sannabis has partnered with Occupational Healthcare Provider, Human Fine IPS, to offer Sannabis medicines to their network of thousands of insured employees. Sannabis' experience, quality of products, and social initiatives have allowed them to work with the biggest players in Colombia's burgeoning cannabis industry. These multi-national companies recognize Sannabis ability to provide quality cannabis medical care.
The Colombian market for cannabis products is expected to grow exponentially over the next few years, and this acquisition will allow Sannabis/USPS to position itself as a leading player in the market. Sannabis will be rolling out new products in the coming days targeting Colombia's 52 million citizens. Additionally, they have international orders that are awaiting regulatory approvals. Sannabis also plans to expand into the U.S.
Sannabis headquarters are located in Cali, Colombia, and their grow facilities are in Popayan-CAUCA. They are establishing distribution channels throughout the country, having built a strong reputation for producing premium quality cannabis products that are well-received by consumers.
Sannabis, and affiliated companies, hold all four cannabis licenses: Seed Use, THC-Cultivation (psychoactive), non-THC (non-psychoactive/Hemp)-Cultivation, and Fabrication/Export.
Ultimate Sports, Inc. will be applying for a name change with their state of incorporation and will provide regular updates going forward. Sannabis intends to keep the trading symbol USPS.
Although the Company has been Pink Current, they will be submitting a new application to OTC Markets Group in order to update their disclosures to remain Pink Current and take necessary steps to assure compliance with FINRA Form 211.
"We are thrilled to become a publicly traded company in the USA, allowing us access to capital to grow, and continue developing innovative medical cannabis products that have helped many people in Colombia and around the World," said Juan Paulo Guzmán, Ultimate Sports and Sannabis Director. "We're rolling out new products and will be making more announcements soon," continued Mr. Guzmán.
For more information:
Carrera 83A # 18 -28 Cali - Colombia
Tel.: +57 319 384 3901