LAS VEGAS, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Dakshidin Corporation (DKSC) is pleased to announce that it has completed the acquisition of Whitechapel Holdings, Inc. (Whitechapel), a Delaware Corporation and its wholly owned subsidiaries.
The subsidiaries consist of:
- Laughing Frogs, the exclusive online sales portal for all of Whitechapel’s legal, unique and proprietary organic CBD products. Laughing Frogs also manages fast growing distribution channel programs in the retail distribution, reselling and direct sales market segments. The company has managed to secure a merchant account with a nationwide bank, something which is still difficult for the CBD/Cannabis industry, and expects to have a fully integrated online sales portal in the next few weeks. For now people can call a toll free number to order: Laughingfrogs.com.
- Runnymede Farms, which is in the process of acquiring a 193-acre farm in Northern California that is licensed to legally cultivate Cannabis. Runnymede has secured the first $500,000 required for the transaction to be completed. The current management of Runnymede Farms, which has substantial expertise in the cultivation of marijuana, has agreed to stay involved and will take an active role in overseeing said cultivation.
Whitechapel CEO Chris Haigh stated: “As a management team we are very excited to be able to move forward as a result of this transaction. Whitechapel believes that, Cannabis and CBD are mainstream products being consumed by a mainstream clientele; we believe that trusted brands will be the future of the cannabis industry. Furthermore we believe that the end of cannabis prohibition is inevitable, the industry is still in its infancy and we plan to capitalize significantly on its potential for sustainable growth.”
Spending on legal cannabis worldwide is expected to hit $57 billion by 2027 and in North America, sales are projected to rise from $9.2 billion in 2017 to $47.3 billion by 2027, according to Arcview Market Research and its research partner BDS Analytics.
The company will announce the changes in management soon and is working diligently on getting current with all regulatory filings.
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Dakshidin Corporation Investor Relations
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