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G-Pel International Inc (OTCMKTS:KGET) Re- Enters Acquisition Talks With California Vape Line Firm

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G-Pel International Inc (OTCMKTS:KGET) has entered into acquisition talks with a California based Vape Line firm. It has re-engaged a firm as a prospective acquisition candidate. Both the firms initially commenced discussions in January 2017. CaliPharms has filed a non-binding Letter of Interest highlighting the potential terms of a deal.

The details

Bo Linton, the President of G-Pel, expressed that they are extremely delighted to reconsider this acquisition candidate. Earlier, the timing was not right, however it appears now the stars are aligning for them. Their new Chief Executive Officer, Eric Watson, has established a great association with the Vape Line company owner and this time he considers they we will be able to agree to terms that are best for all parties involved. Linton added that with the completion of this deal, CaliPharms can white label and establish numerous “CaliPharms” offerings that can go to California dispensaries.

Earlier in August, G-Pel used shareholder update wherein it stated that its subsidiary unit, Pacific Cannabis Grower’s or PCG has elected to unwind the deal between CaliPharms and PCG. Under the agreement terms there is a guideline that PCG may unwind the deal for any reason given Pacific Cannabis has not sold any of the equity issued to it as consideration for the deal.

Pacific Cannabis Grower did not convert or sell KGET stock, or recorded any cash consideration for the deal, so the unwind provision is stated valid by CaliPharms. The company wished success to PCG in the imminent period. Going forward G-Pel has plans to grow its business model towards adding products like vape lines and other non-farming aspects of the operations. It intends to update shareholders regularly on plans for changes.

In the last trading session, the stock price of G-Pel traded in a narrow range to close flat at $0.00010.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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