GoIP Global Acquires Apex Extractions; Apex Closes 2019 With $5.6 Million in Revenues

NEW YORK, NY, Jan. 23, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GoIP Global, Inc. (symbol .pk ) announced today that the Company has entered into a Share Acquisition Agreement with Apex Extractions LLC, an Oakland, California-based Cannabis extraction facility. Apex is a licensed regulated Cannabis extractor in California, selling their products to 175 California wholesalers and licensed dispensaries, under their own Brand Name and white labels for others. Sales for 2019 were $5.6 million and are on course to double revenue in 2020. Pursuant to the agreement, at closing, Isaac H. Sutton, the Company's current CEO, will resign and Scott Benson, Apex’s current CEO, will be the Company's new CEO. Apex current Shareholders will receive GoIP Preferred shares.  The transaction is anticipated to close within the next 60 days, subject to the conditions precedent to closing being completed.

Isaac H. Sutton, GoIP’s CEO, stated, “This acquisition brings a solid company, with real prospects and a quality management team to GoIP.  Apex’s team have proven themselves over the last 3 years, producing quality products which have garnered 8 Cannabis Cups in 2019. The Company has achieved multi-million dollars sales in a market that is challenged with regulations and strict compliance.  Apex is positioned for major 2020 expansion within California and possibly other states. We are looking forward to their continued success.” 

Apex’s CEO Scott Benson commented, “Apex has been looking for a platform like GoIP for several months. We have tremendous potential for organic growth in our current market, the ability to expand our model in additional states and develop into a true industry leader. We are looking forward to being a public company and driving value for our shareholders.”

About Apex Extractions LLC  

Founded in January 2018, Apex Extractions was one of the first licensed cannabis manufacturers established when it was legalized in the state of California. In 2019, Apex Extractions' concentrates and pens have won 8 Cannabis Cups.  Apex’s mission is to create the highest quality, most consistent cannabis experience available, while also providing unmatched value to their customers and partners.  Apex expert extractors work hand-in-hand with their cultivation partners to preserve the full spectrum of the plant’s properties, creating the purest form of cannabis available, at an incredible price point. 

Apex Extractions has offices in Los Angeles & Oakland, California. Apex  

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