Completes Purchase of Danodan
• FijiKava Inc. USA has completed the acquisition of Danodan Hempworks LLC
• The acquisition includes Danodan’s Portland Oregon based CBD Tincture Plant, Inventory
and all associated intellectual property, CBD extract US Patent 10,716,819
• FijiKava’s US subsidiary. FijiKava Inc (USA) began doing business as The Calmer Co. USA
from January 1st 2022
• The existing Danodan team, including founder Danial Stoops have joined The Calmer Co.
• Global CBD market valued at USD 2.8 billion in 2020 and is expected to grow at a compound
annual growth rate (CAGR) of 21.2% through to 20281
19 January 2022 Portland Oregon USA – FijiKava Ltd (ASX: FIJ), an Australian-Fijian medicinal kava
company which produces natural products to reduce anxiety, promote relaxation, improve sleep and
support sports recovery and performance, has completed the acquisition of Danodan Hempworks LLC,
including its CBD extraction US Patent 10,716,819, purchased from Danodan Founder, Mr Daniel Stoops
(together, “Danodan”).
Danodan produces a suite of organic certified CBD tincture products sold throughout wellness boutiques
and regional natural foods grocery stores in the USA. FijiKava has begun work on scoping the use of
Danodan’s patented extraction process for Noble Kava products.
To reflect its expanded product lines and plans for further acquisitions of aligned brands and products,
FijiKava Inc. (USA) is now doing business as The Calmer Co. (USA) as of 1
st January 2022.
Daniel Stoops, Founder of Danodan said “We’re really excited about this opportunity. We’ve been
looking for a new relationship like this. We’re aligned on values. We fit very nicely into The Calmer Co
(USA)’s mission. Our products are all about reducing anxiety, relaxation, and better sleep. With the
combination of investment and sales and marketing expertise of the new team, the Danodan brand has
a bright future”
Fiji Kava CEO, Anthony Noble said: “FijiKava Inc (USA) has now commenced US operations on the
ground as The Calmer Co. (USA). We are gathering a group of likeminded brands and companies,
focussed on delivering customers the world’s leading suite of products to reduce anxiety, promote
relaxation, improve sleep and support sports recovery and performance and this acquisition is the first
step in executing that vision.
1. Cannabidiol Market Size, Share & Trends Analysis Report By Source Type (Hemp, Marijuana), By Distribution Channel (B2B, B2C), By End-use
(Medical, Personal Use), By Region, And Segment Forecasts, 2021 – 2028. Grand View Research.
Danodan’s organic certified CBD tinctures are renowned in the USA for purity and quality and
represent an integrative, broad-spectrum approach to herbal formulation, with a real point of difference
from highly processed CBD products. The global CBD market exceeds US$2.8bn1 and leading the way
is the US market, which is becoming increasingly mainstream. Recent progress such as California
Assembly Bill 45 demonstrate this. Growing the availability of the Danodan products in retail and online
will be a key initial driver of growth for of the Danodan products, as it has been for FijiKava products.
“The liquid dispersible beverage ready format of these tinctures is highly aligned with our growing
innovation and product development pipeline; including the exploration of kava and CBD combination
products in the OTC, dietary supplement and functional beverage markets.”
FijiKava Inc. (USA) has acquired Danodan Hempworks LLC, the associated production plant and
equipment, inventory, raw materials trademarks and other IP and marketing collateral for USD235,000
and has assumed a 30-year loan valued at USD150,000 from the US Small Business Administration.
FijiKava Ltd has acquired US Patent 10,716,819 for USD225,000. In addition, Mr Stoops will receive
10% equity in Danodan Hempworks LLC. Taken together, these amounts will constitute full
consideration for the transaction.
There have been no changes in the FijiKava Ltd Board of Directors or senior management team due to
this acquisition.
This release has been approved by the Board of Directors
ENDS
===================================================================================
DYOR
i hold FIJ
am not so sure on this .. CBD based in Oregon ( Antifa US HQ ) maybe the patent they bought is the silver lining ( MIGHT be useful on Kava as well )
Be the first to comment