CBDNF - CBD Global Sciences to acquire renewable plastics firm based in Colorado

CBD Global Sciences (OTCPK:CBDNF) announced Thursday that it has signed a binding letter of intent to acquire Pure BioPlastics from its parent Pure Vision Technology. With the acquisition of this Colorado based company, CBD Global Sciences plan to create a bio-based technology division to be headed by Pure BioPlastics' founder Ed Lehrburger.  Pure BioPlastics is known for its patented continuous countercurrent reactor technology, where biomass is rapidly converted into pulp, lignin, and sugars for their use as raw materials in production of biodegradable plastics. The technology currently runs at the pilot plant with a 0.5-ton/day thruput which Pure BioPlastics plans to scale-up to 8-tons/day within 16-24 months through financing. Closing of the transaction is expected on or before April 15, 2022. In addition, CBD Global announces a issue of 643.33K shares in $175K private placement deal that comprises of 360K shares issued to consultant at $0.25 per share and 283.33K shares issued

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CBD Global Sciences to acquire renewable plastics firm based in Colorado