SEATTLE, WASHINGTON, Oct. 10, 2022 (GLOBE NEWSWIRE) — Pervasip Corp. (OTC: PVSP) (“Pervasip” or the “Company”), a developer of high-value emerging markets businesses and technologies, together with Zen Asset Management LLC (“ZAM”) today announced the signature of a letter of intent (“LOI”) to acquire substantially all of the assets of BCCTG LLC (“BCCTG”).

BCCTG, owner of various brands including Emerald City Cultivation, Emerald City Cured, Dabco, Dabs4Less and Vapes4less has agreed to the terms of acquisition by ZAM, combining its brands and concentrate offerings with ZAM’s Artizen brands to form a powerful portfolio of brands, flower covers, pre-rolls, dabbling concentrates and vaping products.

BCCTG brands, which generate $4 million in annualized revenue, are manufactured in a state-of-the-art laboratory. Terms include acquisition of all of BCCTG’s assets, including its brands, access to a Tier 2 grower/processor license, and a turnkey lab that will also be used to manufacture new products under the Artizen brand. .

Under the terms of the letter of intent, Zen will acquire BCCTG’s assets in cash, paid from contributed revenue with a monthly upper limit and cash-neutral on current financials prior to the transaction. In addition, Pervasip will provide a group of owners, investors and employees of BCCTG with 10.2% of the fully diluted capital of Pervasip in the form of restricted preferred shares.

“As outlined in our 24-month roadmap, which we released on September 6, 2022, this acquisition ticks 2 of our boxes on the list of strategic goals to achieve by year-end 2022,” said German Burtscher, CEO of Pervasip. “Not only will this immediately add revenue upon final closing of the deal, but it will also add infrastructure, expertise and a handful of well-known brands to our brand lineup. Brian Martin and his team at Emerald City Cultivation and Dabco have is doing an incredible job and is building a strong and highly respected company. We are excited to add the BCCTG team to our Washington operation and fill critical vacancies with market-leading expertise. Final terms will be posted at the closing, scheduled for the end of November 2022.”

Emerald City Cultivation and Dabco are brands known for their high quality concentrate products (dab and vape) and with over 40,000 subscribers they have established a well-deserved fan base. (IG: https://www.instagram.com/dabco/, https://www.instagram.com/emeraldcitycultivation/, https://www.instagram.com/dabs4less/).

“Combining our strengths with Artizen and bringing a full and powerful product line to DC retailers has been a vision of mine for some time now,” said Brian Martin, Founder and President of BCCTG and Emerald City Cultivation. “To be able to do this, take care of our investors who have been with us since the beginning of this adventure and join the Artizen team is a wonderful opportunity. Artizen is one of Washington State’s original cannabis brands and our combined line will allow retailers to offer a variety of products at multiple price points, all from one trusted partner. The combination of our strengths and experience will also allow us to enter markets outside of Washington and take our vision and replicate it in other markets. Expect more new product announcements over the coming weeks and months.

Pervasip Corporation
Pervasip Corp., a developer of high-value emerging markets businesses and technologies, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management firm founded to acquire, grow and support businesses and technologies in the cannabis industry. Current ZAM customers operate four licensed cannabis cultivation facilities and one processing facility in Washington. Most of the biomass produced by these independent growers has historically been sold under the Artizen™ brand, including Washington State’s all-time best-selling blooming products. Additional information about Artizen branded products is available online at www.artizencannabis.com. Pervasip beneficially owns 10 million common shares of KRTL Holding Group Inc., a biotechnology developer focused on the pharmaceutical applications of cannabinol and psilocybin. Additional information about KRTL is available online at www.krtlbiotech.com. Additional information about Pervasip is available at www.pervasip.net.

Forward-looking statements
This press release contains statements and information which, to the extent that they are not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements regarding future economic plans, objectives or performance, or assumptions underlying any of the foregoing. In some instances, forward-looking statements may be identified by terms such as may, would have, could, will be, likely, except, to anticipate, to believe, intention, to plan, provide, project, estimate, outlook, or its negative form or other similar expressions relating to matters which are not historical facts. Examples of such statements include, but are not limited to, statements regarding the Company’s objectives and business plans; ability to capitalize on recent appointments within the company; ability to retain key personnel; the intention to develop the business and operations of the Company; the competitive conditions of the industries in which the Company operates; and the laws and their amendments applicable to the Company. Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of its experience and perception of trends, current conditions and anticipated developments, as well as other factors that the management believes to be relevant and reasonable in the circumstances as of the date such statements are made, but which may prove to be inaccurate. Important factors and assumptions used to develop the forward-looking information contained in this press release include, but are not limited to, key personnel and qualified employees continuing their involvement with the company; and the Company’s ability to obtain financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the information. forward-looking, including, without limitation, risks related to the Company’s future business plans; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all, and any other risks described in the Company’s periodic statements. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date such statement is made. New factors emerge from time to time and it is not possible for the management of the Company to foresee all of these factors and to assess in advance the impact of each of these factors on the Company’s business or the the extent to which any factor, or combination of factors, could cause actual results to differ materially from those contained in the forward-looking information. The Company undertakes no obligation to update forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unforeseen events, except as required by law, including securities laws.

For more information, please contact:
Such. : 206-590-2408
E : [email protected]

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