BEVERLY HILLS, Calif., April 24, 2014 /PRNewswire/ -- Cannabis Capital Corp. (OTCBB: CBCA) is an emerging global firm specializing in business development, high tech pharmaceutical development, and medical technology. The Company is pleased to announce its first strategic acquisition, having signed a definitive agreement to acquire WebCongress, Inc., www.webcongress.com, and to retain the current WebCongress executive management team to continue driving the growth of WebCongress.
The package deal is valued at over $25 Million, based on CBCA's current share price, and consists of a combination of cash, shares, and management fees. Since the launch of WebCongress in 2008, over 100,000 people have come together to be inspired and educated by, and network with, leading executives in the technology space from a variety of major industries. Having hosted more than 27 events in 9 different cities, such as Barcelona, Miami, Bogota and San Francisco, just to mention a few, while attracting powerful speakers from Google, Facebook, Twitter, YouTube, Spotify, Blackberry, Microsoft, Skype, Samsung, Intel and Ericsson, WebCongress Conferences are considered to be among the most important digital marketing events in the world.
WebCongress produces global digital marketing and strategy events, attracting thousands of technology professionals across the world from such diverse companies as Nestle, Merck, NBC Universal, Pfizer, Starbucks, American Airlines, IKEA, and Redbull. WebCongress, Inc. also houses an international business mentoring and training academy and a digital solution agency.
Chad S. Johnson, Esq., Director, President & CEO of Cannabis Capital Corp. stated, "WebCongress possesses both a successful, high-growth business model and a strong executive management team that align well with our combined growth plans. We acquired WebCongress on mutually beneficial terms and at the right time, being in our early stage of growth and development. We believe this acquisition provides CBCA with a profitable business combination that will enhance and support each company's core mission, expanding international operations and harmonizing the current services and offerings of WebCongress with CBCA's development. WebCongress's accelerated growth will generate ongoing novel opportunities and platforms for the legal cannabis industry on a global basis. This is a key step in the direction of increasing long-term CBCA shareholder value, and we are more than excited to make this announcement."
The next WebCongress Conference, which is part of the 2014 Americas Tour, will be held on May 8th at the San Francisco Broadway Studios. In 2015, WebCongress, Inc. plans to launch operations in Asia and return to Europe, expanding to more cities such as Paris, Amsterdam and London. For 2016, WebCongress intends to develop markets in Africa and the Middle East.
WebCongress Founder and CEO, Mr. Ouali Benmeziane, affirmed, "We are highly impressed with the accomplishments and vision of the CBCA executive management team. Our team is proud to be part of CBCA moving forward. We are very excited about the strong support we are receiving and the synergies that will arise from this transaction. Big plans are on the way for WebCongress to continue and grow this amazing W Conference experience, which has been one of the secrets to our success. We want to take our innovative concept everywhere in the world and empower people's businesses!"
The combination of WebCongress and CBCA brings together two highly complementary industries and companies. WebCongress, recognized as a leader in its field, provides valuable resources as Cannabis Capital Corp. moves forward to establish itself as an industry leader in its burgeoning market environment.
WebCongress remains headquartered in Miami, operating as a wholly-owned subsidiary of CBCA. Expansion is currently underway with operations opening in Los Angeles, San Francisco and Bogota, Colombia. WebCongress will continue to operate under the leadership of its Founder, Mr. Benmeziane.
About WebCongress, Inc.
WebCongress Inc. was launched in 2008 by its Founder and CEO Ouali Benmeziane and has been growing rapidly ever since, hosting more than 27 events in 9 different cities and attracting powerful and fascinating speakers from such companies as Google, Facebook, Twitter, Youtube, Spotify, Blackberry, Microsoft, Skype, Samsung, Intel and Ericsson. WebCongress Conferences are considered to be among the most important digital marketing events in the world.
WebCongress Conferences are Digital Marketing Events covering Technical Innovations that bring together web professionals and media outlets from throughout North America, Europe, and Latin America; with one principal goal: teaching online marketing strategies by involving leading companies in technology, online and marketing industries. The WebCongress Conference experience delivers 1) inspirational and strategic conferences – 2) intensive training with workshops – 3) the legendary WebParty, the ideal place for networking with attendees, keynote speakers, mentors and the WebCongress community. WebCongress Conferences include agenda list topics, such as SEO, Online Advertising, Analytics, Email Marketing, Ecommerce, Mobile, Social Media Marketing, Apps, and more.
About Cannabis Capital Corp.
Cannabis Capital Corp. (OTCBB: CBCA) is a United States company actively pursuing investment opportunities in several traditional emerging markets while infusing them with the rapidly growing global medical cannabis industry. CBCA invests in companies positioned to make a significant impact within their respective industries. These early stage investments provide emerging companies with access to larger capital sums to help elevate their status from start-ups to mature and durable brand leaders. Recent legislative changes around the world are creating compelling investment opportunities that CBCA is positioned to identify at an early stage.
The legal cannabis economy is growing at an aggressive rate as more and more programs are running every day as this sector expands from state to state and country to country. Over 20 states and a dozen countries have medical cannabis programs; each creates a unique opportunity for Cannabis Capital Corp.
Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Capital Corp. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
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