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.

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
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
"Operations is sort of the maturation of cloud utilization and the move to the cloud," explained Steve Anderson, Product Manager for BMC’s Cloud Lifecycle Management, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.