Prohibition Brands, a Delaware based, American CBD and Cannabis Conglomerate, announced the signing of a binding letter of intent to Reverse Merger onto the American Stock Exchange.
The merger with Wearable Health Solutions Inc. of the OTCQB would make Prohibition Brands the first true American Cannabis and CBD Brand to enter the American Market in 2019. The combined public conglomerate will be renamed Prohibition Brands and will focus on CBD and Cannabis Land and Brand Development. Shares of Wearable Health Solutions Inc. closed at .0053 Thursday, May 9th, 2019.
Prohibition Brands IP product portfolio, includes their Hemp CBD cigarette product “Marijuanettes.” In 2013, Prohibition Brands made headlines when they were dubbed the “Marlboro of Weed” by the Huffington Post and other news outlets.
With distribution of licensed cannabis and CBD products currently selling across the USA in more than 30 different states that range from CBD Hemp Cigarettes and Recreational Cannabis Joints to CBD Pet Treats and CBD Skin Serums; The company hopes to become the world’s most distributed CBD and cannabis brand.
“As Americans, we strive to be the best. While there are Canadian companies on the stock market, we are Americans on the American market, and we make premium products. We are proud to blaze the path of premium American Cannabis and CBD” said company CEO Brian Laoruangroch. “Prohibition Brands is an American Company.”
Additionally, the company intends to file documents with the SEC to raise capital for the acquisition and development of up to 50 CBD Hemp/Medical/Recreational Cannabis facilities nationwide by 2022.
“The Reverse Merger will provide us the capital necessary to build the future land and brands of CBD and cannabis across America.” We will focus on CBD products now and the development of our hemp CBD and Cannabis compliant property across the country. When cannabis becomes federally legal in The US, we will be ready to convert our facilities to cannabis if we choose.”
“Make no mistake about it,” said Laoruangroch, “We want to be the world’s most distributed American Cannabis and CBD Brand”
Disclosures:
The securities to be offered in the brokered private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Stock Exchange Matters
As of the date hereof, Prohibition Brands Delaware is not listed or has made any application for listing on any stock exchange. A condition to the completion of the transaction is the approval for the listing of the resulting public company’s shares on the American Securities Exchange.
Timing of the Transaction
Further details of the transaction will be included in subsequent news releases and disclosure documents to be filed by Prohibition Brands Delaware and WHSI in connection with the transaction.