SCOTTSDALE, AZ--(Marketwired - Mar 4, 2014) - Kuboo, Inc., (OTC Pink: SGTB) dba Safe Communications, Inc. ("Safe"), and Northsight Capital, Inc. (OTCBB: NCAP) (OTCQB: NCAP), announced today that Northsight Capital ("NCAP"), Safe's 80% owned subsidiary, has signed a letter of intent to acquire approximately 7,000 domains, all in the marijuana/cannabis/hemp space. NCAP is expected to change its name to "The Marijuana Advertising Group" after completion of the transaction. Safe is expected to retain approximately ten percent of the fully diluted equity of NCAP, after giving effect to the acquisition and related transactions, including anticipated initial funding in the amount of $1 million, while the seller of the Domains is expected to own about 80% of NCAP after completion of these transactions. Following completion of the proposed acquisition, Safe anticipates spinning off to its shareholders all of its shares of NCAP, subject to compliance with applicable securities and other laws.
The closing of the acquisition is subject to satisfaction of certain conditions, including NCAP raising a minimum of $750,000 to fund the build out of the website, among other things. The letter of intent is non-binding, except as to confidentiality and similar non-transactional provisions.
The proposed business model will be that of Yellow Pages for the marijuana industry. The domains consist of Cannabis, Marijuana, Medical Marijuana, Hemp, Pot, Weed, Dispensaries, Directory's, Growers, Suppliers, Distributors, Market & Supermarkets, Stores, Shops, Shack, Hut, Bakery, Edibles, Snacks, Medical Marijuana Physicians, etc.
There are between 90 and 120 individual listings for every state. The following are some examples for Washington State:
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.
About KUBOO, Inc.:
KUBOO, Inc. (dba Safe Communications, Inc.) provides open and secure family communications that are in step with today's digital world. While protecting our most precious asset, our children, our systems are designed to enhance the quality and frequency of day-to-day communications among family members and approved friends. We allow users to experience the marvel of advanced technology without fear or danger.
KUBOO Inc.'s offerings are designed for the modern family on the go. KUBOO.COM is the first child safe virtual world offering games, edutainment, controlled chat, multiple channel online streaming -- all on the same platform. Early detection devices warn parents of potential abuse and inappropriate content, allowing secure, open exchange with loved ones and friends. KUBOO.COM designs products so that your children can enjoy the electronic ride without being exposed to potential harm or abuse. For more information, contact: email@example.com or visit us online at www.KUBOO.com.
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.