IRVINE, CA, Oct. 25, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Signature Devices, Inc. (OTC PINK: SDVI) today announced that it has acquired Nano 101, a leading technology company in the CBD and Hemp space in an all stock deal.
The terms of the deal will be disclosed in a full press release. “Both companies were motivated to quickly close the deal to allow for a smooth transition of assets and resources,” said Inas Azzam, outgoing CEO and President of Signature Devices. He went on to say, “This deal allows Signature to partner with Nano 101 and expand its technology assets plus take advantage of the growing Cannabidiol industry with Nano 101’s unique patch products for CBD and Hemp.”
Nano 101 introduced its CBD and Hemp based products into the market in April of 2018 with a tremendous amount of positive feedback and reviews. The products are sold directly to consumers through its website and on Amazon. Nano 101 is at revenue stage having sold its products via ecommerce and retail stores in a short time in business.
CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years. Unlike THC, the chemical compound that gives weed its signature effect, CBD has been shown to help with everything from PTSD and anxiety to MS and epilepsy — without getting you high!
Previously, CBD products have been available mostly in head shops, with a few doctors recommending it for various maladies. But in 2017 and 2018, the products spread to natural food stores, beauty aisles, cafés and doctors’ offices. So far the industry is on track to hit $591 million in 2018, and thanks to a number of factors — including, surprisingly, Senate Majority Leader Mitch McConnell — that could increase 40 times in the next four years.
“For years, experts have predicted that if the cannabis industry expands at its current rate, the American market will reach $20 billion by 2020. But it turns out that one market is spinning off into a mega-industry of its own: according to a new estimate from cannabis industry analysts the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022”: Rolling Stone Magazine.
Signature Devices will continue to operate Innovo Technology as well and find common technology use cases and integration with Nano 101 as things progress into 2019.
You can also follow the company on Twitter for small updates and announcements, https://twitter.com/SignatureDevice
About Nano 101
Based in Irvine, California, Nano 101 has developed patches using its unique blend of Cannabidiol and topical patch technology . The result is a company that blends technology and powerful CBD and Hemp for consumers to use with ease.
http://www.nano101.io
About Signature Devices, Inc.
Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC PINK: SDVI) is a holding company with subsidiaries that develop Internet of Things (IOT) products through its subsidiary Innovo Technologies, Inc., and publishes diverse media products including video games and mobile applications through its subsidiary Graffiti Entertainment, Inc.
Forward-Looking Statements:
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Signature Devices, Inc.
Investors Relations
ir@signaturedevices.com
650-654-4800 ext 111