Welcome!

News Feed Item

Cannabis Capital Corp. (CBCA) Acquires WebCongress, Inc. for Cash, Shares, and Management Fees Valued over USD 25 Million

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.

Cannabis Capital Corp.

Chad S. Johnson, Esq., Director, President & CEO
www.cannabiscapitalcorp.com 
[email protected] 
+1 866.784.7239

CBCA Investment Inquiries

Robert Kane, CFO & Director
[email protected]
+1 561.420.4824

WebCongress, Inc.

Ouali Benmeziane – CEO and Founder - @ouali 
www.webcongress.com 

WebCongress Inquiries

Monica Gutierrez
[email protected]

WebCongress Media inquiries:

Mirna Solorzano / Diana Rodriguez
[email protected] / [email protected] 

SOURCE Cannabis Capital Corp.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.