Hemp Technology Inc. Receives Court Approval to Acquire True Leaf Pet Assets
Hemp Technology, Inc., a vertically integrated, publicly traded holding company operating in the hemp industry, has successfully entered into a purchase and sale agreement dated Aug. 11, to acquire substantially all of the assets of True Leaf Pet. True Leaf Pet is a division of True Leaf Brands Inc.
The Approval and Vesting Order was granted by the Court on Friday August 28, 2020. The closing of the transaction pursuant to the Sale Agreement was subject to approval by the Court of the Transaction within 30 days of the execution date. The Transaction has been set to close Sept. 11.
Hemp Technology operates and intends to further obtain a diversified portfolio of subsidiary companies with a variety of assets, products and ancillary offerings in the hemp and related industries. The company continues to seek growth opportunities and strategic acquisitions that support its vertically integrated business model and maintain alignment with the dynamic industry environment. Hemp Technology has employees/consultants, operations and subsidiaries in the hemp and ancillary product industry in both Canada the US and Europe. The company has broad experience with supply chain networks and distribution frameworks in hemp and related product supply, packaging supply and accessory supply.
Hemp Technology is comprised of a highly experienced executive team with expertise spanning strategy, branding, business and product development, revenue generation, finance and corporate governance.
True Leaf Pet, a global pet care company offering high quality plant-focused wellness products that improve the quality of life for companion animals, currently sells its more than 40 products globally via e-commerce, distributors, wholesalers and in retail stores. True Leaf Pet has a presence in more than 3,500 stores and provides potential distribution reach of more than 20,000 additional stores via its current distribution network which generated $2.3 million CAD in revenue Fiscal 2020.