Westwood, Los Angeles, California, July 18, 2019 (GLOBE NEWSWIRE) — Imaging3, Inc. (OTCQB: IGNG), (“IGNG” or “Imaging3”) today announced that its wholly owned subsidiary, Grapefruit Boulevard Investments, Inc. (“Grapefruit” or the “Company”) has entered into a letter of intent (‘LOI”) with Dogwood Management Group, Inc. (“Dogwood”) (collectively the “Parties”).
The non-binding letter of intent dated as of June 12, 2019 outlines the Parties’ plan for Grapefruit to acquire, and for Dogwood to manage, California licensed and fully compliant retail cannabis dispensaries throughout California which meet the Parties regulatory, operational and financial results requirements. The plan constitutes one avenue for Grapefruit to explore to achieve the retail dispensary acquisition aspect of Grapefruit’s comprehensive corporate goal to become a fully vertically integrated seed to sale cannabis and CBD product company. Under the terms of the LOI, Dogwood will have primary responsibility to identify and conduct due diligence on
... read more at: https://www.globenewswire.com/news-release/2019/07/18/1884437/0/en/Grapefruit-Announces-Entry-into-Letter-of-Intent-with-Dogwood-Management-Inc-Group-to-Target-Acquire-and-Manage-California-Licensed-Retail-Cannabis-Dispensaries.html