1.3 million monthly visits, 1.2 million Facebook fans, 53,000 Twitter followers
Scottsdale, AZ, June 29, 2015. Northsight Capital Inc., (OTCBB-NCAP) announced it has signed an exclusive option to acquire LaMarihuana.com, considered the Hispanic community’s leading cannabis portal. LaMarihuana was founded in 2001 in Spain and currently has more than 1.3M 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 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.
Howard R. Baer,(HRBaer Consulting Group), the consultant to Northsight who identified LaMarihuana and negotiated the option for Northsight, commented: Hispanics constitute 17 percent of the nation’s total population and the community is a major part of the Cannabis revolution. 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 intends to provide its audience with a means to stay informed on the industry’s most cutting edge marijuana-related innovations and legislation. The company’s most dynamic concept, 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 Capitals current web sites include:
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