leadf
logo-loader
viewThoughtful Brands Inc.

Mota Ventures strikes binding deal to buy eCommerce ptaform Unified Funding for US$45 million

Unified Funding generates revenue from licensing, marketing and product fees supporting brands in the natural health products sector

Mota Ventures -
Its database has already facilitated over C$364 million in customer transactions since its inception in 2015, with C$93.8 million in 2019 alone

Mota Ventures Corp (CSE:MOTA) (OTCPINK:PEMTF) has struck a binding deal to buy eCommerce platform Unified Funding for US$45 million, which will allow Mota to develop new products and expand into new healthcare markets.

Unified Funding generates revenue from licensing, marketing and product fees supporting brands in the natural health sector, including skincare, nutraceutical, essential oils and CBD.

READ: Mota Ventures to acquire natural wellness ecommerce platform Unified Funding

Its database has already facilitated over C$364 million in customer transactions since its inception in 2015, with C$93.8 million in 2019 alone.

"The very nature of CBD, natural health products and psychedelics unequivocally points the future of our nascent industry into digital targeting, marketing and engagement of customers who will turn to the web to learn about and acquire the right products for them," Ryan Hoggan, CEO of Mota Ventures said in a statement on Monday.

"Mota has already demonstrated superior eCommerce capabilities in 2020 but this acquisition of Unified will make us a formidable presence in the space."

The firm said its integration with the Unified platform would allow it to "develop new products and enter new natural healthcare markets, aided significantly by Unified's ability to closely track current trends through a global network of media partners".

The binding letter of intent sees Mota Ventures pay for Unified with shares worth US$45 million. These 'consideration' shares will be issued at a deemed price equivalent to the greater of the volume-weighted average closing price in the ten trading days prior to entering the definitive agreement in respect of the acquisition, and C$0.40 a share.

Unified will also be entitled to receive a one-time bonus payment in shares, of US$15 million if the company achieves gross revenue in excess of US$15 million from the Unified business in the 12 months following closing of the acquisition

The Unified offering goes beyond just product sales and the group provides a suite of managed services, for the acquisition of new customers, product development, supply chain management, customer service and profitability analysis, in which it includes over 100 key performance indicators.

Shares in Toronto ticked up 1.27% to C$0.40 each.

----Updates for share price---

Contact the author at giles@proactiveinvestors.com

Quick facts: Thoughtful Brands Inc.

Price: 0.055 CAD

CSE:TBI
Market: CSE
Market Cap: $13.57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Thoughtful Brands Inc. named herein, including the promotion by the Company of Thoughtful Brands Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Mota Ventures sees strong sales increase amid COVID-19 Crisis

Mota Ventures (CSE: MOTA-OTCMKTS: PEMTF) CEO Ryan Hoggan joined Steve Darling from Proactive Vancouver to discuss how the company is doing during the Corona Virus crisis and how it has affected sales. Hoggan also told Proactive about a new product line the company has started and how excited...

on 1/4/20

2 min read