SOURCE: WOWI, Inc.

June 24, 2016 07:34 ET

WOWI, Inc. Is Now the Driving Force of Jolen, Inc. With Its New Strategy and Name

CENTENNIAL, CO--(Marketwired - Jun 24, 2016) -  WOWI, Inc. (OTC PINK: WOWU) is pleased to announce its growth strategy in the U.S. Cannabis Market. WOWI is now the Driving Force of Jolen, Inc. and operating as a wholly owned subsidiary of Jolen, Inc. which accordingly changed its corporate name to WOWI, Inc. with a new symbol of WOWU. 

Jolen's management, after proper due diligence and with the support of the majority of its shareholders, has elected to redirect its acquisition focus to the rapidly growing U.S. legal cannabis (marijuana) market.

The U.S. legal cannabis industry is among the fastest growing industries in the U.S., projecting better than $22 billion in revenue by 2020, growing from revenue of $5 billion in 2015.

Jolen's first acquisition is WOWI, Inc. (World of Weed, Inc.) located in Centennial, Colorado. Since WOWI will be Jolen's main growth engine, Jolen has changed its name to WOWI, Inc. with its new symbol (WOWU). For more information on WOWI please go to http://worldofweedinc.com/.

Anthony Russo, CEO of WOWI, Inc., states that, "WOWI's long-term strategy is the establishment of a national cannabis brand supported by cannabis producing farms and dispensaries of quality cannabis products. Both farms and dispensaries will either be started organically or existing entities will be acquired. WOWI's nationally recognized brand will host quality products developed in cooperation with agricultural institutions, provide controlled growing and harvesting conditions, and develop selective distribution via knowledgeable dispensaries/stores ...all under regulatory conformance."

"Furthermore," states Mr. Russo, "target companies and/or assets for acquisition must have experienced management with intimate knowledge of the industry, along with a desire to remain with WOWI to continue to expand operations."

Mr. Russo realizes that "entering the capital markets allows WOWI to be nimble and competitively advantaged to execute a national footprint and embark on strategic acquisitions."

In a 2015 press release Jolen stated that it had entered into a Letter of Intent with Viking Investments Group, Inc. This LOI was not formalized, and is no longer under consideration.

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