ECGI Holdings (OTC: ECGI), d/b/a Elite Cannabis Group Inc., a Nevada -based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, has signed a letter of intent (“LOI”) with Wyoming-based East West Pharma Group Inc. (“EWPG”) to acquire EWPG’s key personnel, intellectual property, and current and future business operations. According to the announcement, the acquisition is a shift in ECGI’s strategy as it becomes part of the $2.7 billion Cannabis Manufacturing, Extract and Concentrates market. The company noted that its goal is to pair its vast cannabis space network and knowledge capital with EWPG’s talent and equipment to drive rapid growth as an emerging leader in the California cannabis manufacturing space. “This is a key talent and asset acquisition that will expand our network of potential investors through the lead operations team we get as part of the deal,” said ECGI Holdings CEO Danny Wong in the press release. “East West has extensive knowledge and proprietary technology/processes within the CBD and Eastern medicine field, and we will gain a tremendous base of specialized equipment as well as key personnel that include leaders in the cannabinoid extraction and product manufacturing space.”
To view the full press release, visit https://ibn.fm/wRZYi
About ECGI Holdings Inc.
ECGI Holdings, which plans to operate as Elite Cannabis Group, is reorganizing as an acquisition-oriented corporation with California-based targets, including undercapitalized and distressed cannabis assets, properties zoned for cannabis cultivation and processing, and cannabis companies operating in market sectors with national expansion possibilities. For more information about the company, please visit info@ECGIHoldings.com.
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