WILMINGTON, DE and DENVER, CO / ACCESSWIRE / February 2, 2021 / Luminar Media Group, Inc (OTC PINK:LRGR) ( "Luminar") today announced the signing of a non-binding Letter of Intent with Unified Global Inc of Denver, Colorado and Calgary, Alberta, Canada ("Unified") whereby Unified will bring an experienced executive team with a combined 100+ years in the cannabis market to target profitable acquisitions in order to create a fully integrated International MultiState Operator (iMSO) of cultivation, supply chain and retail cannabis operations.
At closing Unified's management team will join the Luminar board and management. Luminar intends to take on the Unified Global brand and will focus on consolidating smaller cannabis operators in three core mature cannabis markets in Canada and the United States. Unified will be bringing its team of cannabis, acquisition and corporate experience to target consolidating some of the market of 1,500 smaller cannabis operators within Unified's focused 3 jurisdictions in 2 countries.
Unified's President, T.G. Moreau, stated "We're pleased to be bringing our team and strategy to Luminar as we plan on consolidating targeted smaller cannabis operators in order to provide an avenue for them to monetize their hard work building cannabis businesses."
"We're thrilled to be joining forces with Unified's team of experienced operators to bring value to our shareholders" stated Luminar's current CEO Chris Cook.
The new board and leadership is expected to take the helm in February with the first cannabis operational transactions to take place shortly thereafter subject to traditional due diligence, regulatory compliance, financing and other transactional approvals.
About Luminar: Luminar Media Group Inc. is a Delaware based company that was previously identifying pre-commercial technology companies for partnership and will now pivot to become an international cannabis operator.
About Unified Global: Unified Global is planning to consolidate smaller cannabis businesses and become the first International Multistate Operator (iMSO). The Company is led by an experienced team of cannabis operating professionals.
Safe Harbor Statement
This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking information or statements". Forward-looking information or statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of Luminar has made numerous assumptions including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. Luminar assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
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UNIFIED GLOBAL INC LUMINAR MEDIA GROUP INC.
SOURCE: Luminar Media Group, Inc.