Kuboo Subsidiary, Northsight Capital, Receives Preliminary Investor Commitments for Approximately $500,000 in Funding
Upon Closing of This Offering, Northsight Will Have Met the Funding Condition in the Recently Announced LOI for the Acquisition of Approximately 7,000 Marijuana/Cannabis/Hemp Domains and Ad Site for the Cannabis Industry
SCOTTSDALE, AZ–(Marketwired – Mar 10, 2014) – Kuboo, Inc., (OTC Pink: SGTB) subsidiary Northsight Capital, Inc., (OTCBB: NCAP) announced today that it has received verbal commitments from prospective investors with respect to the private investment of approximately $500,000 into the company. Upon receipt of these funds, the company will have satisfied the funding condition contained in its recently executed LOI (as amended) with respect to its planned acquisition of approximately 7,000 marijuana/cannabis/hemp domains. The company anticipates that it will be able to close the planned acquisition within approximately thirty days of receipt of the $500K funding. The first $100,000 was received by the company on Friday, March 7. However, since the company has not yet received executed subscription agreements for the balance, there is no guarantee that investors will follow through on their verbal commitments.
NCAP believes that the marijuana/cannabis/hemp industry is one of the fastest growing in the country and is expected to be a multi-billion industry over the next decade.
About Northsight Capital, Inc.:
Northsight Capital, Inc. is currently a shell company within the meaning of applicable securities laws, and has been seeking out merger and acquisition candidates. The company recently executed a LOI with respect to its planned acquisition of approximately 7,000 marijuana/cannabis/hemp domains. The acquisition is subject to satisfaction of a number of conditions, including but not limited to execution of definitive agreements and completion of a capital raise by the company in the amount of at least $500,000.
Various statements in this release, including those that express a belief, expectation or intention, may be considered “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects or transactions. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words “will,” “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
Northsight Capital, Inc.Info@MarijuanaAdGroup.com
John Venners, CEO