MARINA DEL REY, Calif. and CHEYENNE, Wyo., July 12, 2024 (GLOBE NEWSWIRE) -- Canna-Global Acquisition Corp. ("Canna-Global") (OTC:CNGL) announced today that it has entered into a letter of intent (LOI) for a proposed business combination agreement (the "Transaction") that will result in Canna-Global acquiring 100% of the outstanding equity of Invest Inc, a Wyoming corporation (the "Company"). This Transaction values the Company at an initial enterprise value of $250 million and will enable the Company to become a publicly traded company in the United States.
The Company is a fintech innovator offering a unique machine-learning investment platform that revolutionizes investment decisions on its platform that leverages advanced proprietary algorithms and data analytics to provide investors with insights and strategies that optimize returns and manage risks effectively.
J. Gerald Combs, CEO of Canna-Global commented, "The fintech industry is experiencing rapid growth and we are excited to facilitate Invest Inc.'s transition to the public markets. This business combination aligns with our mission to identify and support a target company with high-growth potential. We believe that Invest Inc.'s disruptive fintech and strategic vision will create significant value for our shareholders." Mr. Combs remarked further, "This marks a significant milestone for Canna-Global as it initiates the de-SPAC process, transitioning from a blank check shell company to an operating business."
David Kugelman, newly appointed CEO of Invest Inc, highlighted its long running goal of becoming a publicly traded company and the enhanced market presence this transaction will bring. "Joining ...