Grey Cloak Tech Inc. (OTC: GRCK) announced on September 19th the signing of a binding Letter of Intent to acquire Eqova Life Sciences.
Eqova Life Sciences offers cutting-edge practitioner grade Full Spectrum Hemp Oil health products exclusively to licensed medical practitioners. Their products are always used under professional medical supervision, unlike any other company in the space.
Eqova’s products are, high quality, science-backed and utilize standardized dosing & unique delivery methods.
But now with the backing of a parent company Grey Cloak Tech, we will be able to innovate even more with our products and offerings to our practitioner partners.
We expect to be one of the most dominant companies in the Full Spectrum Hemp Oil space with this marriage of our two companies.
This also puts Grey Cloak Tech at the forefront of the Cannabis industry, by acquiring such a unique and clinical based company.
Grey Cloak shows great commitment to new avenues of growth through this acquisition. Afterwards, they will be at ground zero in the booming cannabis industry with an veteran staff of executives in the health and wellness space who can execute swiftly.
After the acquisition, which is expected to be closed soon, the Eqova leadership team will join Grey Cloak’s management. But Grey Cloak will operate Eqova as a wholly owned subsidiary.
This way Eqova can continue to expand its brand with practitioners and leaves Grey Cloak’s core business intact.
Eqova’s CEO, Patrick Stiles said: “I couldn’t be more excited about this acquisition. It will help expand in ways that simply weren’t possible before. And we’re very excited to be working with the Grey Cloak Management team. They are incredibly sharp executives who will add tremendous value to our vision.”
The acquisition is expected to close on October 13th, but could take longer. The signed LOI by the two entities extends till the end of October.