Global: Northsight Inks Option To Acquire Spanish Weed Site LaMarihuana.com
LaMarihuana.com gets 1.3 million monthly visits, has 1.2 million Facebook fans, 53,000 Twitter followers
Northsight Capital Inc. on Monday announced it has signed an exclusive option to acquire LaMarihuana.com, which, according to the company, is "considered the Hispanic community’s leading cannabis portal."
LaMarihuana was founded in 2001 in Spain and currently has more than 1.3 million visits monthly, making it the most visited portal worldwide by the Spanish-speaking community. LaMarihuana has more than 1.2 million Facebook fans and 53,000 Twitter followers.
The Hispanic population of the United States as of July 1, 2013, was 54 million people, making people of Hispanic origin the nation’s largest ethnic or racial minority. LaMarihuana is a full informational site, with daily news, forums, reviews, business directory, chat, seedbanks, and other relevant information for the cannabis industry.
If the acquisition is completed, LaMarihuana will become a part of the Northsight platform and will work in conjunction with www.WeedDepot.com, Northsight’s leading marijuana dispensary website. As part of the acquisition, Northsight will acquire LaMarihuana’s website and content, customer information and all related technology. Northsight announced that it expects that key members of the current LaMarihuana team headquartered in Spain will stay on with Northsight post acquisition.
The Option is in the nature of a letter of intent, but, significantly, gives Northsight the legal right to acquire the LaMarihuana assets, for cash or stock or a combination thereof (at the discretion of the seller). If Northsight exercises its option to purchase the LaMarihuana assets, consummation of the transaction will possibly be subject to Northsight securing additional financing (in case the purchase involves cash) and the negotiation of a definitive purchase agreement with customary terms and conditions.
If the acquisition is completed, LaMarihuana will become a part of the Northsight platform and will work in conjunction with www.WeedDepot.com, Northsight’s leading website.
"Hispanics constitute 17 percent of the nation’s total population and the community is a major part of the Cannabis revolution," said Howard R. Baer of HRBaer Consulting Group, the consultant to Northsight who identified LaMarihuana and negotiated the option for Northsight. "This proposed transaction is a core part of Northsight’s strategy to build the leading media platform in the industry, by developing and acquiring the leading online media properties in the cannabis marketplace.”
Northsight Capital, Inc. (NCAP) is comprised of a portfolio of online marijuana-related websites that are being developed and operated by the company. These sites will incorporate many aspects of the marijuana industry.
The company's WeedDepot.com provides consumers with a geo-targeted map directory of medical and recreational dispensaries, head shops, doctors, attorneys and more within the marijuana industry. The Weed Depot app can be downloaded for free at the iTunes Store and Google Play.
Weed Depot has an entire platform of content suited for every aspect of advertising and marketing to consumers from all businesses in the cannabis industry.
Northsight Capital's current websites include: