DENVER--(BUSINESS WIRE)--On August 19, 2014, 4th Grade Films, Inc. (OTCBB:FHGR) acquired approximately 90% of the outstanding common stock of Strainwise, Inc. (“Strainwise”), in exchange for 23,124,184 shares of 4th Grade’s common stock.
Strainwise is a branding and fulfillment services enterprise that provides consulting, procurement and operational services to marijuana cultivation facilities and retail stores involved in the sales of medical and recreational marijuana. Strainwise currently provides these consulting services to eight retail stores and one cultivation facility in Colorado.
4th Grade plans to adopt Strainwise’s business plan, change its name to Strainwise, Inc. and change its stock trading symbol to better reflect its new business focus.
In connection with the acquisition:
- the Company caused 1,038,000 shares of its outstanding common stock to be canceled;
- Shawn Phillips was appointed a director and the Chief Executive Officer of the Company;
- Erin Phillips was appointed a director and the President and Principal Financial and Accounting Officer of the Company;
- David Modica was appointed a director and Manager of Quality Control and a director of the Company;
- Shane Thueson, Nicholl Doolin and John Winchester resigned as officers of the Company (and will resign as directors no later than August 30, 2014); and
- the Company’s assets relating to its independent film business were sold to Shane Thueson, a former officer of the Company.
Forward Looking Statements. Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statements containing words such as “believes,” “should,” “anticipates,” “plans,” or “expects” as well as other statements are forward-looking, and those statements involve risks and uncertainties outside of the control of Strainwise and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Attention is directed to cautionary statements in our filing on Form 8-K dated August 21, 2014 and our other filings with the Securities and Exchange Commission. All those filings are available on the Web site of the Securities and Exchange Commission at www.sec.gov.