Vancouver, British Columbia–(Newsfile Corp. – October 26, 2020) – PeakBirch Logic Inc. (CSE: PKB) (FSE: KYH2) (“PeakBirch” or the “Company”) is pleased to provide a corporate update on the Company’s business direction and vision, and the completed acquisition of the remaining shares of Lifted Innovations Inc. (“Lifted”) not taken up under the Company’s takeover bid of Lifted (the “Lifted Takeover”) which closed on September 8, 2020.
PeakBirch, a platform for growing the audiences and sales of niche e-commerce websites, recently concluded a series of acquisitions, including the Lifted Takeover, as set out in the Company’s press released of September 8th, 2020. These acquisitions improved the brand’s portfolio and PeakBirch now manages the following niche e-commerce websites: Greeny, Lifted CBD, Leaf Science, Namaste Vapes, and Everyone Does It.
PeakBirch has developed a plan and roadmap intended to expand these brands’ web presence and overall revenue. This approach includes the implementation of cutting-edge SEO techniques, integration into PeakBirch’s existing supply chain network, and the application of advanced analytics tools to streamline the user experience on all brand websites.
“Over the years, we have developed a proven model for increasing the brand awareness and sales of e-commerce websites,” says Marc Mulvaney, CEO of PeakBirch. “We’ve been fortunate to enjoy substantial success in our current field of CBD products and cannabis accessories, and now we are looking to expand into new niches as well.”
In the coming months, PeakBirch will be actively seeking out new targets for acquisition in various e-commerce niches. In keeping with the Company’s global perspective and diverse leadership team, these targets may include websites located around the world.
PeakBirch also completed on October 19, 2020 the acquisition of 950,000 common shares of Lifted (“Lifted Shares”) held by a single Lifted shareholder, representing the final 1.5% of the outstanding Lifted Shares not held by PeakBirch. Following the closing of the acquisition, Lifted became a wholly-owned subsidiary of PeakBirch. The acquisition was completed on substantively the same terms as the Lifted Takeover and 950,000 common shares of PeakBirch (“PeakBirch Shares”) were issued to the vendor of the shares. Following the closing of the acquisition, there were 94,699,954 PeakBirch Shares issued and outstanding.
PeakBirch is a multi-brand management company providing services & related products to the cannabis industry that believes its strong focus on and investment in marketing, brand, education to help customers make sound purchasing decision, strategic brand partnerships, and a delivery software technology will create a business with the potential to generate a significant and sustained return on invested capital over the long-term.
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company’s drop-shipping model, the ability of the Company to integrate recent and future acquisitions into the Company’s existing supply chain, changes in government regulations or enforcement, the ability of the Company to integrate its current and future brands and websites into its existing infrastructure, the availability of potential acquisition targets, the ability for the Company to expand its operations or expand to international markets, the ability of, and extent to which, the Company is able to implement its intended plan and roadmap, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s listing statement under the Company’s profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66815
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