Target Group Inc. Signs Agreement to Acquire CannaKorp, Inc.
Written by: The Growth Op
Target Group Inc. has entered into an agreement to acquire the U.S. and Canadian operations of Massachusetts-based CannaKorp Inc., holder of a patent-pending vaporizing system.
The WISP herbal vaporizing system uses precisely measured, sealed and tested company pods containing dried, ground botanicals, notes a press release from Target Group, a diversified and vertically integrated cannabis acquisition company.
Using the vaporizer and pods together, the statement claims, “gives cannabis users the predictability and assurance to know what they’re inhaling with every use, without the hassle of grinding, measuring or packing.”
The agreement facilitates Target Group’s expansion of cannabis operations and positions the company’s brand portfolio for global distribution. Its global expansion strategy is “focused on acquiring and developing quality cannabis brands and solidifying long-term growth and stability in vital markets across the globe,” the company contends.
“The acquisition of CannaKorp will enable Target Group to enter all legal cannabis markets around the world, and to develop a centralized distribution channel for the WISP Vaporizer system, including centralized WISP Pod production,” the statement notes.
It also enables the company to provide the vaporizer and pod “technology to mainstream medical and recreational consumers, offering unprecedented variety through a break-through, consumer appliance experience that’s clean, convenient, consistent and easy to use,” comments Target Group CEO Rubin Schindermann.
Additionally, “combining WISP natural herbal botanical pods with CBD will allow WISP to develop a range of proprietary blends that will be available for sale within the broader U.S. mass market immediately,” the statement adds.