Company Makes Acquisition in Cannabis Space

By: Tomas Ronolski - AllPennyStocks.com News

Monday, October 10, 2022

President Biden’s recent announcement to pardon all federal offenses of simple marijuana have sent cannabis stocks surging. And this company just announced the execution of an LOI to acquire a cannabis firm with $4 million in revenues.

Technology developer Pervasip Corp. (OTC: PVSP) announced today with Zen Asset Management LLC the execution of a letter of intent to acquire substantially all of the assets of BCCTG LLC, the owner of several cannabis brands, per the company’s press release. The combination will bring BCCTG’s brands and concentrate offerings, which generate $4 million in annualized revenues, with Zen’s Artizen brands to form a powerful portfolio of brands, covering flower, pre-roll, dabbable concentrates and vape products.

The terms include acquisition of all BCCTG assets, including its brands, access to a Tier 2 producer/processor license and a turnkey laboratory which will be used to also manufacture new products under the Artizen brand.

Shares were trading at $0.0024 in morning trade.

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