Palm Beach, FL, Sept. 01, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Canna Consumer Goods, Inc. (OTCPK: CBMJ) www.cannabroadcastmedia.com a premier broadcasting company is pleased to announce that it has entered into a letter of intent (“LOI”) with DeDonato Enterprises, L.L.C. pursuant to which CBMJ will acquire 100 percent of the membership interest of DeDonato.
DeDonato Enterprises, L.L.C. is a Digital Marketing Agency based in Metro-Atlanta that specializes in reaching a conservative / libertarian / religious audience.
DeDonato is on track to exceed two million in sales in 2020 despite a temporary slowdown due to Covid 19. Led by CEO and Founder Brandon Vallorani and employing approximately 15 employees and contractors, DeDonato Enterprises has experienced substantial growth over the past two years. Vallorani, a Forbes Books published author, who is regarded as a pioneer in the digital media and data driven marketing industry has been distinguished six-times as an Inc. 5000 entrepreneur. He has built and sold two other similar media companies over the past 12 years and has a strong track record in increasing shareholder value.
Brandon Vallorani, DeDonato’s CEO, stated: “Being able to draw on the experience and resources that the CBMJ team brings to the table, coupled with the ability to allow the general public to participate in our company through the public markets, we believe that the combined company will generate results far beyond what we could accomplish on our own.”
Among other assets, DeDonato operates numerous social media accounts across several platforms with over 2 million followers, owns an active database of 1.2 million opt in email subscribers, and publishes a network of 47 monetized political/news websites generating 10 million-page views per month. Some of the marquis sites include www.flagandcross.com, and www.libertyhub.com. The Company also maintains one of the largest collections of historical documents on the web at www.constitution.com
Effective as of the closing of the transaction, Brandon Vallorani will join the board of directors of the Company and will continue to serve as the CEO of DeDonato Enterprises, L.L.C. DeDonato will remain a wholly owned subsidiary of CBMJ and will continue to operate in its current location. It will however gain access to the full resources and relationships of the parent company CBMJ.
Post-closing, the company plans to divest its remaining cannabis related assets and or shift the focus of its two operating subsidiaries including Loudmouth Media Inc. to support and align with the business objectives of the DeDonato Enterprises.
Mark Schaftlein, CBMJ’s CEO, remarked: “The core competencies of DeDonato and the very successful staff fit perfectly into CBMJ’s plans for expansion. We intend to add fuel to their fire and welcome Brandon as a key member of our combined organization. The revenues and additional web presences will serve to create a substantially more valuable company and serve as a foundation for not only expanding our core business but in identifying additional acquisitions and partnerships.”
In addition DeDonato operates a brick and mortar coffee shop in Hiram, GA and e-commerce websites including www.thrashercoffee.com , www.valloranicigars.com , and an ecommerce portal at their primary site www.store.flagandcross.com/.
Completion of the transaction is subject to, among other things, the completion of due diligence, the negotiation and execution of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein, and the satisfaction of other customary closing conditions. Accordingly, there can be no assurances that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.
About CBMJ: (CBMJ) dba Canna Broadcast Media specializes in getting mainstream media cleared promoting the cannabis sector including network TV, radio, and digital ads targeting those who wish to take advantage of the incredible investment opportunities that exist in the cannabis sector. Canna Broadcast Media owns "LoudMouth News" www.loudmouthnews.com which became the first and longest-running syndicated terrestrial radio news program that focused on the news relating to the marijuana industry. LoudMouth News presents the news and commentary in an entertaining neutral manner highlighting the most impactful current news in politics, products, sociological issues, and businesses.
Contact: Mark Schaftlein
Phone: 877-704-6773