Tag: mergers and acquisitions

  • China’s Boton Group Divests 51% Stake in Bubblemon

    China’s Boton Group Divests 51% Stake in Bubblemon

    Kate Wang / Credit: RELX

    China Boton has sold its Bubblemon Vape Brand to the founder of RELX vaping products, Kate Wang.

    According to an announcement, the company has signed a sale agreement with the Han Holding SPV.

    Han Holding is an investment holding limited company registered under the laws of the British Virgin Islands and a wholly-owned subsidiary of Sunnyheart Inc.

    Sunnyheart Inc. is a limited liability company registered under the laws of the Cayman Islands, primarily engaged in the sale of e-cigarettes.

    According to the directors, based on the information provided by Sunnyheart Inc., the ultimate beneficial owner of Sunnyheart Inc. is Wang Ying (also known as Kate Wang, CEO and founder of Relx Technology), who holds 50 percent voting rights of Sunnyheart Inc. and is the sole director of Sunnyheart Inc.

    Upon completion of the transaction, the buyer and Han Holding SPV will respectively hold 81 percent and 19 percent of the target company’s equity.

    After the reorganization, Boton Holding SPV and Han Holding SPV will respectively hold 51 percent and 49 percent of the target company’s equity, making the Korean target company a wholly-owned subsidiary of the target company, according to 2FIRSTS.

    China Boton is an investment holding limited company registered in the Cayman Islands, mainly engaged in the research and development, production, trading, and sale of extracts, essences, and spices. The company is also involved in the design and manufacture of high-quality e-cigarettes and related products.

  • Kaival Releases Details of GoFire Patents Deal

    Kaival Releases Details of GoFire Patents Deal

    Kaival Brands Innovations Group provided additional details of its recently acquired extensive patent portfolio from GoFire as it looks to expand its current product offerings to explore near-term and long-term revenue opportunities, according to GlobeNewswire.

    In the near term, Kaival Brands expects to seek third-party licensing opportunities in the cannabis, hemp/CBD, nicotine and nutraceutical markets as a means of monetizing its new patents. Longer term, the company believes it can utilize the acquired patents to create innovative and market-disruptive products for its growing base of adult consumers, including patent protected vaporizer devices and related hardware and software applications.

    The consideration for the purchased patents consisted primarily of Kaival Brands equity securities, consisting of common stock, newly designated Series B Preferred Stock and a warrant to purchase common stock. Importantly, in certain key aspects, the equity consideration was structured in a forward-looking manner with valuations or exercise prices struck at premiums to the current market price of Kaival Brands’ common stock. The weighted price per share of the common stock issued and the common stock underlying the Series B Preferred Stock was $1.53 per share on the May 30 closing date, accompanied by warrants with exercise prices ranging from $3 and $6.

    Included in the acquired technologies are patented systems and methods that are designed to overcome common issues regarding reliability and consistent dispensing over the entire life of a cartridge or reservoir as well as improvements to the vaporizing chamber to ensure complete vaporization with minimum residue.

    The acquired patent portfolio includes the following: Bluetooth Child Safety App and Mechanical Cartridge Protection; Controlled Delivery; Flavor Delivery and Experience to Last Puff; Leak Proof Design and Removal of Cutting Agents; Authentication System/Counterfeit Protection; Dry Puff Protection; 510 and Pod Compatibility; Product Remaining Indicators; and MHRA Requirements.

    The GoFire patent portfolio includes 12 existing patents and 46 pending applications with novel technologies across extrusion dose control, product preservation, tracking and tracing usage, multiple modalities (i.e., different methods of vaporizing) and child safety. The patents and patent applications cover territories including the United States, Australia, Canada, China, the EPO (European Patent Organization), Israel, Japan, Mexico, New Zealand and South Korea. The portfolio also includes a proprietary mobile device software application that is used in conjunction with certain patents in the portfolio.

    The acquired assets are housed in Kaival Labs, a wholly owned subsidiary of Kaival Brands, which develops new branded and white label products and services in the vaporizer and inhalation technology sectors.

  • Pyxus Completes Sale of Canadian Cannabis Operations

    Pyxus Completes Sale of Canadian Cannabis Operations

    Photo: Pyxus International

    Pyxus International has completed the sale of assets of FIGR Norfolk, the final key step in the company’s strategic decision to exit its cash flow negative cannabinoid operations.

    With the completion of this sale, which occurred on Jan. 28, 2022, no subsidiaries of the company produce or sell Canadian cannabis in any capacity. In addition, the company is no longer involved in activities related to industrial hemp or CBD.

    “Since announcing our intention to focus on tobacco and e-liquids last year, we have made tremendous strides in streamlining our operations and reducing our SG&A costs,” said Pieter Sikkel, president and CEO of Pyxus International, in a statement. “Moving forward, we will continue to focus on our tobacco-related businesses while leveraging the company’s strengths in agronomy, traceability and sustainability in order to deliver value to our stakeholders.”