Denver, Colorado, May 11, 2015 (GLOBE NEWSWIRE) -- FutureWorld Corp. (OTC: FWDG), a cannabis technology accelerator and a leading provider of advanced technologies and solutions to the global cannabis industry, announced today that on May 04, 2015, the Company's board of directors have elected to sell/spin off 100% interest in CB Scientific, Inc for an unspecified price to a publicly traded company through a merger (or reverse merger). The decision was made based on FutureWorld internal business model and CB Scientific's technology and marketing traction within the industry. The Company carries extensive IP portfolios and signed agreements.
We are currently in the process of negotiation and evaluation of the merger candidates. A third party valuation firm may be engaged for the merger value validation. The transaction will be based on all stock. More information will be provided when details on the merger candidate and the process is available.
CB Scientific's PersonalAnalytics are the first affordable tests for consumers that are available for personal use to test for cannabinoids, including THC and CBD, outside of a lab setting. These affordable and high-quality tests provide results in ten minutes or less, and have numerous uses for recreational and medical purposes, including patients who need to use medical cannabis and hemp-related products such as CBD oil. The Company is in the process of introducing new and improved versions of the PersonalAnalytics (THC, CBD, Hemp, Molds, Metals, DWH & DUI) under the brands "Test4", and "Pocketlab".
The Test Kits have been featured on ABC, CBS, Fox, Telemundo, The Adam Dunn Show, as well as in publications such as High Times, Culture and Forbes Magazine. In December 2014, just 94 days after its launch the THC & CBD Test Kits were awarded "Product of the Year" by the Cannabis Business Awards in Colorado.
Reasons for the sale and the transaction;
1- Extract value for the shareholders by spinning-off subsidiaries per our business model
2- Access to marketable securities and cash for corporate growth and dividend purposes
3- Increase balance sheet and overall financial health of the company
4- Access to growth capital for CB Scientific
What shareholders should expect from this transaction;
1- Possible dividend on part of the shares acquired through registration
2- If available, stock dividends are only provided to shareholders of record at the time of notice
As the only Cannabis Technology Accelerator, FutureWorld will incubate and fund leading technologies, products, and services for Cannabis industry (Industrial Hemp) for foreseeable future; bringing value to its core and its shareholders.
About CB Scientific
CB Scientific (www.cbscientific.com) is a wholly owned subsidiary of FutureWorld Corp. based in Denver, Colorado. CB Scientific is continuing to develop new technologies specifically for cannabis (hemp) analytics. CB Scientific believes every product sold to patients as "Medical Quality" should be inspected for health benefits, safety, consistency, purity, potency and packaged properly for distribution. CB Scientific has worked with many of the cannabis industry leaders in the country and have also been featured in cannabis industry publications including High Times Magazine, Culture and many trade publications, on-air interviews and panel discussions across the United States. CB Scientific's focus has been the education and safety of consumers combined with innovation to put power into the hands of the patients. Values that FutureWorld is pleased to embrace while ever striving to raise the bar of cannabis analytics even higher.
About FutureWorld Corp.
FutureWorld (OTC: FWDG), a Delaware corporation, is a leading provider of advanced technologies and solutions to the global cannabis industry. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products and services, such as industrial Hemp. FutureWorld, through its subsidiaries, provides personal and professional THC and CBD test kits, pharmaceutical grade CBD oil solutions, SafeVape vaporizers, smart sensor technology, communication network, surveillance security, data analysis for smart cultivation and consultation for the industrial hemp and legal medicinal cannabis. Our wireless agricultural smart sensor networks offer precision to the agriculture, irrigation systems, and greenhouses for the global cannabis and hemp industry. FutureWorld and its subsidiaries do not grow, distribute or sell marijuana.
To request further information about FutureWorld, please email us at email@example.com, log onto our website at http://www.futureworldcorp.com or visit us at our Facebook page facebook.com/futureworldenergy or on Twitter @futureworldinc.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Source:FutureWorld Energy Inc.