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CannLabs Goes Public through Reverse Merger

Ryan Allway

June 13th, 2014

News, Top Story

[stockchart symbol=”SDSPD”]

CannLabs Inc. [stockquote symbol=”SDSPD”], a developer and licensor of advanced scientific methods and proprietary cloud-based technology to cannabis testing facilities and provider of cannabis business intelligence, recently went public on the OTCQB via a reverse merger transaction. The company is headquartered in Denver, Colorado and led by CEO Genifer Murray and President & COO Steve Kilts.

“We have been at the forefront of the sweeping changes across the nation as many states have legalized cannabis, said CEO Genifer Murray. “We provide the technology for reliable testing in product quality, data analytics, and widely accepted standards, which are essential elements to all key constituents in the cannabis industry and this is where we excel.”

CannLabs licenses advanced scientific methods combined with proprietary cloud-based technology to cannabis testing facilities, which includes the first state-licensed laboratory in Denver, Colorado. The company also provides analytics with real-time business intelligence to generate the data necessary for the continued advancement of the entire cannabis business ecosystem.

In conjunction with the reverse merger, the company announced that it completed a private placement of 500,000 shares of Series A Convertible Preferred Stock in a private offering, resulting in $500,000 of gross proceeds. The investor also agreed to provide an additional $750,000 in funding through a note purchase agreement through November 15, 2014, bringing the total raised to $1.25 million.

CannLabs also announced the appointment of Joe M. Allbaugh, Ken Johnsen, Mark C. Mirken, and Mark Rogers to its newly formed Board of Directors. With a wealth of experience in executive roles, biotechnology firms, financial services, and entrepreneurship, the diverse set of individuals should help the company grow and scale the business as it looks to capitalize on the rapidly growing industry.

Shares of CannLabs were trading even early on Friday, June 13, 2014.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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