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Social Life Network, Inc. WDLF a technology business incubator (TBI) that holds a 15% stake in each of the companies that participate in its TBI program, has announced that one of its TBI companies operating in the legalized cannabis industry, WeedLife, Inc. has executed a letter of intent to acquire Saving Grace Oil, Inc, a CBD company.
“The business model of roll-up mergers by our TBI companies is meant to rapidly increase their bottom-line revenues, while leveraging their social networking audience to increase product and brand awareness,” stated CEO, Ken Tapp. “Our focus in the TBI program during the second half of this year has been to aid companies like HuntPost and WeedLife through the process of strategically rolling up companies that will result in immediate and meaningful bottom-line revenue growth”, added Tapp.
Social Life’s TBI program supports sector specific social networking e-commerce companies, each of which it owns a 15 percent interest and receives 5% of their revenues. Multiple TBI licensees are currently aiming to increase bottom-line annual revenues by $25 million in 2023 through strategic roll-up mergers.
WeedLife, Inc., is a social networking technology company operating in the legalized cannabis and hemp industry.
“Our 2023 business model of acquiring and supercharging CBD companies with global marketing campaigns through our WeedLife and HempTalk social networks, aims to rapidly increase our bottom-line revenues by leveraging the international audience of users on both platforms,” stated WeedLife’s CIO, Mike Fuller.
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Photo: Benzinga; Sources: courtesy of jarmoluk and lindsayfox via Pixabay
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Image and article originally from www.benzinga.com. Read the original article here.