Transaction with Mixed Martial Arts Brand furthers the Company’s long-term strategy in live sports and entertainment
CannaGrow in process of rebranding to Xtreme One Entertainment, Inc.
DETROIT, Jan. 03, 2024 (GLOBE NEWSWIRE) -- CannaGrow Holdings, Inc. (OTCPink: CGRW) (the “Company” or “CGRW”) today announced that its wholly owned subsidiary, XFC Global, has entered a perpetual license agreement for the brand and intellectual property of international mixed martial arts brand Xtreme Fighting Championships (XFC). This strategic agreement will accelerate the organization's ability to execute dynamic Mixed Martial Arts events that benefit fighters, fans and sponsors.
Under terms of the license agreement, the Company's XFC Global subsidiary will enjoy access to all XFC brands, intellectual property, and content as a foundation for developing a new series of XFC events beginning in 2024. Founded in 2006, XFC owns a 1,000-hour library of premier, previously aired content and has held broadcast partnerships with HBO America, Fox Deportes, NBC Sports, and more.
“We are excited to take the next important step in becoming a premier provider and marketer of extreme live events, starting with mixed martial arts contests developed through our XFC Global subsidiary,” said Doug Kuiper, President of CGRW. “Recent consolidation and substantial investments in the MMA space have created a compelling opportunity for Xtreme One Entertainment to tap into this growing market with a proven brand platform to entertain audiences, provide value to sponsors, and benefit great MMA fighters for years to come. We plan to build out a sustainable business model for live events starting in 2024, while maintaining flexibility to expand into other types of events and venues over time.”
The Company plans to return with a dynamic XFC-branded live event in the first quarter of 2024.
About CannaGrow Holdings, Inc.
Founded in 1995 as a consumer and diversified holding company and operating as an agricultural real estate business since 2014, CannaGrow Holdings, Inc. (OTCPink: CGRW) is now focused on media, entertainment, live sports, and event marketing. The company is currently in the process of rebranding as Xtreme One Entertainment, Inc. For more information about Xtreme One Entertainment please visit XtremeOne.com.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These statements are subject to risks and uncertainties including, but not limited to, the following: the Company’s lack of history of operating profitability, the need to raise significant capital to fund operations and growth, uncertainty concerning the transition of the Company’s business model, uncertainty concerning market acceptance of the Company’s sports and entertainment marketing offerings, competition and the ability to develop or license intellectual property that is critical to the Company’s business, The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Zachary Mizener
Lambert Global
zmizener@lambert.com
