A U.S. oil and gas company is the latest in showing interest to tap into CBD and the ever so growing marijuana-related industry.
Majestic Oil & Gas, Inc. (OTC: MJOG) announced on Thursday that it entered into a Letter of Intent (LOI) with SkyCloud Terpenes LLC to acquire half of the company.
Calvin Lewis, CEO of MJOG, said: “Together we have the opportunity and potential to bring growth for both companies and increase shareholder value.”
“With the ever-growing CBD business, adding SkyCloud to our portfolio will position our company to be at the forefront of the cannabidiol sector.”
In January, MJOC announced its transition from a wholly owned oil and gas company into a holding group to accommodate new acquisitions. Its restructuring initiative was to accelerate its evolution from an oil company to a diversified holding group.[share-btn]