OSL Holdings Acquires Los Angeles Medical Cannabis Dispensary Intellectual Property Assets and Retail Infrastructure Acquisition Includes Brands, Operations Management Software, Retail Infrastructure; OSL Receives Exclusive Future Option to Acquire Remaining Assets
ORANGEBURG, N.Y., May 20, 2014 /PRNewswire/ -- OSL HOLDINGS (OTCQB: OSLH) ("OSL" or "the Company"), a growth-stage public company in the business of servicing and technology development for the emerging legal cannabis industry, today announced that it has executed a definitive agreement to acquire the assets of a Los Angeles medical cannabis dispensary.
Under the terms of the agreement, the acquired assets are valued at approximately $675,000, which includes intellectual and physical property, equipment leases, and software, to be paid in a combination of cash and stock at OSL's discretion. In addition, OSL has the option to acquire additional assets at such time as the law and applicable regulations permit a public company to own these additional such assets and conduct such operations, OSL may exercise its contractual right to acquire all remaining assets and operations at any time.
Details of this transaction are available via the Company's SEC filings, located here: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001329957&owner=exclude&count=40
OSL Holdings (OTC: OSLH) OSL Holdings is a development and technology company specializing in affluent, liberal markets with high disposal income. The OSL Holdings market is highly educated, responds to cause marketing initiatives and socially conscious business models and is technologically savvy. On March 10, 2014, the Company announced its entry into the legal marijuana market. The Company contracted with one of the oldest legal medical marijuana dispensaries in California, The Natural Way of LA, to develop it's brand and explore expansion of its marijuana production facilities in California with branding, marketing, technology, and logistics. OSL intends to explore supporting existing or emerging legal marijuana licensees with branding, technology, marketing, logistics and financing.
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SOURCE OSL Holdings Inc.