Coquitlam, British Columbia, Jul 28, 2020 - (ACN Newswire) - Captiva Verde Land Corp. (CSE: PWR) (OTC: CPIVF) (the "Company" or "Captiva Verde"), is pleased to announce that further to its news release of October 2, 2019, where Captiva Verde has executed a share exchange agreement to acquire Salud Esmeralda de Mexico SA de CV, ("Esmeralda") where Esmeralda holds a comprehensive pharmaceutical license to sell, market and distribute an entire suite of 300+ pharmaceutical, health, wellness and veterinarian products which include all narcotic, psychoactive and non-psychoactive drugs listed under Groups I, II & III in Mexico, Esmeralda has today executed an agreement with the Chairman of both the 380,000 member Health Care Workers Union in Mexico and the broader 1.2 Million member Union Federation, whereby Esmeralda can expressly distribute and sell medicinal health and wellness products to the Union Federation on a direct basis, with payment from the Union.
The Amount outlined in the agreement is for up to 1.2 Million members per month at between MXN $160 to MXN $220 per month, (between MXN $2.3 Billion to MXN $3.2 Billion per year) or up to USD $142,000,000 per year of product sales. (based on 30 day MXN-USD of 22.3) Captiva Verde is 75% complete in constructing its brand new drug manufacturing facility in Mexico for preparation of manufacturing and sales to the Union Federation this coming November. Anticipated Gross Profit is 40%. The complete cost of the new building is USD $750,000.
The Share Exchange Agreement between Esmeralda and Captiva Verde calls for the exchange of 80 Million shares subject to a strict pooling Agreement. Jeff Ciachurski, the CEO of Captiva Verde will receive 22.4 Million of those shares in this agreement. The Share Exchange Agreement and its resolutions are currently waiting for the filing of a signature verification process from the Mexican Consulate in Vancouver. Covid19 had previously delayed this basic administrative function. Final approval is then subject to the Canadian Securities Exchange once the Mexican Consulate has verified the Canadian resolutions including the corporate documents of Captiva Verde.
The exact wording in the Share Exchange Agreement reads:
Jeff Ciachurski, the CEO of Captiva Verde, states: "This is an extremely significant milestone in the history of the Company. Without question, this agreement transforms Captiva Verde as a player in the legal health and wellness business, as we execute this function to one unified buyer, avoiding middlemen, agents, dealers and brokers, offering Mexican Union Members significant cost savings that are not available in the wholesale or retail market."
On Behalf of the Board of Directors
Chief Executive Officer and Director
Cell: (949) 903-5906
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60586
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