The company said it believes that the name and symbol change better reflect the success of its strategic growth and its drive to acquire and develop branded products and research initiatives in the natural health products space
Corp. () (FSE:1WZ:GR) (OTCPINK:PEMTF) has revealed that it will change its name to Thoughtful Brands Inc. and its ticker to 'TBI'.
Subject to the approval of the Canadian Securities Exchange, the company expects the name change to take effect on Friday, August 14, 2020, when its common shares will begin trading on the CSE under the new name and new ticker symbol.
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The company said it believes that the name and symbol change better reflect the success of its strategic growth and its drive to acquire and develop branded products and research initiatives in the natural health products space.
In a statement, the company’s CEO Ryan Dean Hoggan said: "The rebranding and new name represent our multi-faceted expansion and evolution strategies moving forward.”
"The change also reflects our commitment to becoming a global leader in the natural products industry. We are already making pivotal progress in the space through our work in psychedelics research, as well as by making quality hemp-derived CBD products more accessible worldwide through our eCommerce technology platform-and yet we are just starting to scratch the surface,” he added.
The company pointed out that its fundamental business continues to be the development and sale of natural health products through its eCommerce technology, with a focus on the CBD and psychedelic medicine sectors.
The rebranding is the latest of several recent developments, including its:
European expansion through a joint venture with Franchise Cannabis Corp. whereby the company will sell and market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the UK, utilizing its well-established eCommerce platform. (July 2020) Acquisition of Verrian, a German natural psychedelic development company with the goal of formulating treatments for addictions, including opioids and alcohol. The move propels the company into the emerging psychedelic market and supports the company's forays into the natural health sector beyond the CBD market. (June 2020)The name change was approved by the group’s board of directors on August 10, 2020. No action is required by existing shareholders as certificates representing common shares of Mota Ventures Corp. will not need to be exchanged as a result of the name change.
The firm is an established eCommerce technology company that researches, develops, markets and sells natural health products in North America and Europe. It has a strong focus on the CBD market, as well as the burgeoning psychedelic medicine sector. Through its direct-to-consumer digital platform, the Company offers multiple well-established hemp-CBD brands, including Nature's Exclusive, Sativida and Franchise.
The company also owns and operates a 110,000 square foot manufacturing facility in Radebeul, Germany, where its highly skilled team is currently conducting clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction.
It anticipates future opportunities to create proprietary psilocybin products as legislation related to psychedelics evolves, and continues to pursue the acquisition of additional revenue-producing natural health product brands and operations in both Europe and North America with the goal of establishing an international distribution network utilizing its powerful eCommerce technology platform.
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