Cannabis Global (OTC: CBGL), a cannabinoid and hemp extract science-forward company developing unique infusion technologies and products, today pre-announced some aspects of its financial performance for the fiscal year ended August 31, 2020, including a significant increase in assets reported on its balance sheet for the period. According to the update, Cannabis Global intends to file its full annual report for the fiscal year ending August 31, 2020, prior to the deadline of November 15, 2020. The company expects to report assets of approximately $2,396,558, up from $807,824 as of the end of the quarter ending May 31, 2020. “We recently made acquisitions of two valuable assets within the cannabis and hemp marketplaces,” CBGL CEO Arman Tabatabaei said in the press release. “We have made great progress in only one year developing some strong technologies, filing several provisional patents, and launching some of the industry’s most innovative products. We feel strongly that the expected significant increase in our assets will more accurately reflect the value we have created for our shareholders.”
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About Cannabis Global Inc.
Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The company is an emerging force in cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. Cannabis Global has an actively growing portfolio of cannabis investments and intellectual property, having filed six provisional patents relative to the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel(TM) brand name. Cannabis Global launched its Project Varin early in 2020 to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (“THV-C”) and develop products based on this cannabinoid. For more information, visit the company’s website at www.CannabisGlobalInc.com.
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