Mota Ventures Signs LOI to Acquire Ecommerce Platform Leader Unified Funding, LLC, Which Generated $96.5m in Consumer Transactions in 2019
Saturday, May 23, 2020 12:30 PM
VANCOUVER, BC / ACCESSWIRE / May 23, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTC PINK:PEMTF) (the "Company") is excited to announce it has entered into a Letter of Intent (the "LOI") dated May 21, 2020, to evaluate the acquisition (the "Proposed Transaction") of Unified Funding, LLC ("Unified"). Since inception in 2015, Unified has generated a database of over one million customers and has facilitated over Cdn$375,000,000 in consumer transactions. Powered by its proprietary technology platform, Unified has created an eCommerce ecosystem to scale its brands and achieve profitability targets through data analysis, strategic customer acquisition and supply chain management. Founded by partners with more than a decade of eCommerce and technology experience, Unified has rapidly grown into a formidable business focused on aggressive expansion in the natural health products market. Unified's diverse platform generates revenue from; licensing, marketing and product fulfillment fees supporting brands in skin care, essential oils, men's health, weight management and CBD including MOTA's recently audited Nature's Exclusive brand. Figures presented in this news release were translated from US dollars into Canadian dollars using the Bank of Canada closing exchange rate on May 22, 2020 of US$1.00:Cdn$1.3892.
"A transaction with Unified is another step forward in our expansion as a global eCommerce business. This is the platform and personnel necessary for MOTA to launch and grow brands, such as Nature's Exclusive, which we acquired from Unified in January of 2020. Unified has developed a comprehensive eCommerce platform that is ideally suited for the natural health products sector. Integration of their platform and the personnel to run it will allow us to rapidly deploy new products and expand into new natural health product segments and markets," stated Ryan Hoggan, CEO of the Company.
Beyond Unified's comprehensive eCommerce technology platform, their services assist brands with launching and scaling customer acquisition strategies. Through a worldwide network of media partners, Unified is able to closely monitor market trends to guide product innovation and marketing strategies that yield profitable results.
"We have created a very comprehensive eCommerce platform with a team of data analysis, strategic customer acquisition and supply chain management experts that has been proven effective for rapid expansion of natural health brands. We are hopeful that a transaction with Mota will allow our group to use our skills to expand into additional international markets, create new natural health brands and reach more consumers. Mota's access to capital markets to raise growth capital to invest in customer acquisition will give us a distinct advantage to quickly scale, diversify and expand into new high growth product offerings," stated Kevin Keranen, Chairman of Unified.
Readers are cautioned that the LOI entered into with Unified does not set forth the terms of the Proposed Transaction, nor have such terms been finalized. Completion of the Proposed Transaction is subject to a number of conditions, including, not limited to, completion of due diligence, negotiation of definitive documentation, and the receipt of any required regulatory approvals. The Proposed Transaction cannot be completed until these conditions are satisfied and there can be no assurance that the Proposed Transaction will be completed at all.
The Proposed Transaction is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. The Company will provide further information regarding its review of Unified, and the Proposed Transaction, as that information becomes available.
About Mota Ventures Corp.
Mota is an established eCommerce, direct to consumer provider of a wide range of CBD products in the United States and Europe. In the United States, the company sells a CBD hemp-oil formulation derived from hemp grown and formulated in the US through its Nature's Exclusive brands. Within Europe, its Sativida brand of award winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the United Kingdom. Mota Ventures is also seeking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
About Unified Funding, LLC
Founded in 2015 by partners with more than a decade of eCommerce and technology experience, Unified has rapidly grown into a formidable organization focused on aggressive expansion in the natural health products market. Powered by its proprietary technology platform, the company has created an eCommerce ecosystem to scale its brands and achieve profitability targets through data analysis, strategic customer acquisition and supply chain management. For more information about Unified, please visit https://www.unifiedbrandlab.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President & CEO at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the proposed acquisition of Unified, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally and its plans to acquire revenue-producing CBD brands and operations in Europe and North America. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: Mota Ventures Corp.