- NUGL
will soon be finalizing the acquisition of specialized magazine company
Nichols Publishing
- Through
the deal, NUGL will gain access to the publishing company’s
well-established audience of both cannabis professionals and enthusiasts
- The
publisher’s purchase is just a first step in NUGL’s planned strategic
expansion
NUGL Inc. (OTC: NUGL) is working toward the expansion of its
business model through the purchase of Nichols Publishing Company – a
well-known brand that has been issuing specialized magazines like Professional
Marijuana Grower and Garden & Greenhouse for over
a decade.
On October 15, 2018, NUGL announced that it has entered into
a binding letter of intent for the purchase of the publisher. The acquisition
will occur after a 30-day exclusive due diligence period and the execution of a
definitive agreement, according to a company press release (http://ibn.fm/RBmHu).
NUGL will acquire 100 percent of Nichols Publishing in
exchange for $1 million of the company’s common stock. Upon finalization of the
acquisition, all publication activities will occur under the NUGL brand
umbrella.
NUGL, a company setting a new standard of technology in the
cannabis industry, will benefit from the industry-specific magazine audience
that Nichols Publishing Company has established through the years. Professional
Marijuana Grower targets professionals in the field, while Grower
& Greenhouse addresses the needs of the home enthusiast. Both of
these audiences already form an important part of the NUGL community.
Professional Marijuana Grower releases six
issues per year, and the magazines are distributed among cannabis growing
facilities, dispensaries and other industry representatives. A digital version
of each issue is also posted online upon release. The total distribution and
the online reach enable the magazine to generate an audience of 23,000 people
per issue.
Garden & Greenhouse is mailed directly to
subscribers, with a digital version also available online. The publication’s
website averages over 30,000 visitors per month, and the total number of
subscribers (plus the online audience) exceeds 41,000 people per issue.
The reach of the Nichols publications can be used to spread
news about the NUGL technology and its importance for the innovative
development of the cannabis industry.
NUGL Vice President of Sales Bob Waters said in a news
release that the company’s customers currently utilize the services provided by
the company, after which they leave. The magazines provide an opportunity to
deliver high quality content to this audience for the purpose of growing
engagement. According to Waters, NUGL intends to further grow the Nichols audience
and expand the reach of the magazines.
The NUGL press release suggests that the acquisition of
Nichols Publishing is just a first step in a strategic expansion process. The
company has worked hard this year to update its Android and Apple apps and add new
functionalities.
NUGL is the first cannabis search engine in the world aimed
at enabling the most user-friendly experience in the respective industry. The
app strives to provide unbiased and relevant search results, which is why
paid-for listings are not featured.
Currently, NUGL can be used to search for strains,
dispensaries, doctors, lawyers and various cannabis service providers (hydro
stores, vape shops, etc.). Since there are no geographic limitations, NUGL can
quickly connect cannabis companies and users interested in their services.
The NUGL brand-to-shop connection is a unique characteristic
that enables the verification of cannabis brand retailers that are closest to
the respective customer.
For more information, visit the company’s website at http://ibn.fm/NUGL
About MissionIR
MissionIR is
primarily focused on strategic communications. We have executed countless
communications programs to address the needs of companies ranging from
start-ups to established industry leaders, gaining valuable experience and the
expertise necessary to determine the most effective strategy for any given
situation.
For more information, visit www.MissionIR.com
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
