Welcome!

News Feed Item

Brazil Interactive Media Announces Acquisition of American Cannabis Consulting

New Round of Financing Led by Dutchess Opportunity Fund II LP

MIAMI, FL -- (Marketwired) -- 05/15/14 -- Brazil Interactive Media, Inc. (OTCQB: BIMI) (the "Company"), today announced that on May 15, 2014, through its wholly-owned subsidiary, Cannamerica Corp., entered into an Agreement and Plan of Merger ("Merger Agreement") to acquire all of the issued and outstanding shares of common stock of Denver, CO-based Hollister & Blacksmith Inc. d/b/a American Cannabis Consulting ("ACC") (the "Merger"). The effective time of the Merger shall be upon the filing of Certificates of Merger with the Secretaries of State of the States of Delaware and Colorado, pursuant to applicable statutes.

Pursuant to terms of the Merger Agreement, the Company will be renamed American Cannabis Company, Inc. In connection with the Merger, the Company also announced a new round of financing in the amount of $395,000 led by Dutchess Opportunity Fund II LP (the "Financing"). Pursuant to terms of the Financing, the Company sold its debentures to investors, which are convertible at a fixed price. There are no reset provisions, or warrants or other derivative securities issued in conjunction with the Financing. For more information on the Merger and Financing, please refer to the Company's current report on Form 8-K filed with the U.S. Securities and Exchange Commission on May 15, 2014.

American Cannabis Company owns and operates three vertically integrated businesses, American Cannabis Consulting, Cube Root Inc. and The Trade Winds Inc., which deliver a fully integrated offering of services and products for their customers and clients seeking to start or expand, their cannabis-based businesses and product offerings. Through these businesses, ACC provides industry-specific advisory and management services, manufactures and sells products supporting all aspects of regulated cannabis operations, and in addition provides supply chain management solutions through group purchasing delivering efficiency and effectiveness. ACC has successfully procured licensing agreements for its clients in several states and is accessing existing and new growth opportunities, in both domestic and international cannabis markets.

As part of the Merger Agreement, Mr. Corey Hollister was appointed as the Company's new CEO and shall serve as a member of the Board of Directors. Mr. Hollister stated, "We are excited to bring ACC's assets and opportunities into a fully-reporting, SEC-compliant, publicly-traded entity. Recent legislation within numerous states has resulted in the considerable expansion of the legalized marijuana market and related business opportunities to properly service the market and the many businesses that operate therein. With the considerable interest in our services, our on-going successes in procuring legalized marijuana licenses for several clients, our current outstanding license applications, and our fast-growing pipeline of potential new contracts, we believe we are optimally positioned to respond to the rapid dynamic changes in both the domestic and international marketplace, and assist our clients successfully navigate through them."

Ellis Smith, ACC's COO added, "Through the auspices of a publicly-traded company, we believe we can achieve our business goals and maximize value creation faster that we otherwise could have. We are also very pleased to have Dutchess Capital as our primary financial partner and look forward to providing our new and future shareholders with a fully transparent and professionally functional organization."

Douglas Leighton, Managing Partner of Dutchess Capital stated, "As one of the most active institutional investors of cannabis-related enterprises, we are excited to add another to our portfolio. We remain very optimistic regarding ACC's current business, its significant growth opportunities and the ability of Corey, Ellis and their team to deliver."

As a result of the Company's Merger with ACC, it will be divesting of its Brazilian media operations, and focus its efforts exclusively on opportunities within the legalized marijuana industry.

For more information, please refer to the Form 8-K filed by Brazil Interactive Media, Inc. with the United States Securities and Exchange Commission. The Company is providing this release in accordance with Rule 135c under the Securities Act of 1933, as amended ("Rule 135c"), and the notice contained herein does not constitute an offer to sell the Company's securities, and is not a solicitation for an offer to purchase the Company's securities. The securities offered have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

About American Cannabis Company:

American Cannabis Company owns and operates three vertically integrated businesses, American Cannabis Consulting, Cube Root Inc. and The Trade Winds Inc., which deliver a fully integrated offering of services and products for their customers and clients seeking to start or expand, their cannabis-based businesses and product offerings. Through these businesses, ACC provides industry-specific advisory and management services, manufactures and sells products supporting all aspects of regulated cannabis operations, and in addition provides supply chain management solutions through group purchasing delivering efficiency and effectiveness. ACC has successfully procured licensing agreements for its clients in several states and is accessing existing and new growth opportunities, in both domestic and international cannabis markets.

For more information, please visit: www.americancannabisconsulting.com

About Dutchess Opportunity Fund II LP

Dutchess Opportunity Fund II LP invests in special situations assisting growth-stage and mature companies alike. Founded in 1996, Dutchess Capital, through its investment funds, has managed over $2 billion in transactional value, for companies which span a wide array of sectors. With offices in Boston, New York, London, Beijing and São Paulo, Dutchess Opportunity Fund II LP invests in global investment opportunities and has become a leading investor in cannabis-related businesses. For further information about Dutchess, please visit www.dutchesscapital.com.

Forward Looking Statements

This news release contains "forward-looking statements" which are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

Contact:

Company
John Mattio
Corporate, Media and Investor Communications
Ph (720) 466-3789
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
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...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...