CBD of Denver Signs Definitive Deal to Acquire Greece’s BioCannabis

CBD of Denver, Inc. (OTCID: CBDD) announced on September 15, 2026 that it has entered into a definitive Share Exchange Agreement with BioCannabis M. IKE, a Greece-based company operating in the health and wellness sector. The agreement follows a letter of intent previously announced by the parties and the completion of CBDD’s due diligence review.

Management determined to proceed with the transaction after reviewing BioCannabis’ business, operations, infrastructure, and long-term development plans, and said it views the agreement as an important step in the company’s transformation and its strategic expansion into health and wellness.

Under the definitive agreement, CBDD will acquire BioCannabis in exchange for shares of the company. The transaction is subject to customary closing conditions and required corporate and regulatory approvals, and the release did not set a closing date. CBDD said further details of the transaction will be provided in subsequent disclosures, and that additional information about BioCannabis, its operations, and the combined company’s anticipated business strategy is expected following completion of the transaction, as appropriate under applicable disclosure requirements.

CBDD said it expects BioCannabis’ operating business to provide a foundation for future operational development, new products, market expansion, and additional strategic opportunities. It said the proposed combination reflects its previously announced strategy of identifying operating businesses that management believes can provide sustainable operations and meaningful long-term opportunities for the company and its shareholders.

According to the announcement, BioCannabis owns and operates dedicated cultivation, processing, and extraction facilities in Greece and supplies professional partners across the European Union. CBDD stated that BioCannabis is fully licensed and operates in accordance with the applicable Greek and European Union regulatory framework.

Wellness Industry Figures Cited by the Company

CBDD said it believes the broader health and wellness sector provides a compelling long-term backdrop for its evolving business strategy. Citing the Global Wellness Institute’s 2025 Global Wellness Economy Monitor, published in November 2025, the release stated that the worldwide wellness economy reached approximately $6.8 trillion in 2024, growth of approximately 7.9% compared with 2023. The organization projects the global wellness economy to expand at an average annual rate of approximately 7.6% from 2024 through 2029, potentially reaching approximately $9.8 trillion by 2029.

According to the same research, the wellness economy has more than doubled in size since 2013, and wellness-related spending represented approximately 6.1% of global GDP in 2024. The release also noted that Europe has recorded steady wellness-sector growth over the past five years, which it said provides additional strategic context for BioCannabis’ European operating base. Management said it believes these broader industry trends support the decision to increase CBDD’s focus on health and wellness, while cautioning that the industry growth projections are general market estimates and should not be interpreted as projections of CBDD’s or BioCannabis’ future financial performance.

“The Share Exchange Agreement follows a thorough diligence process and moves us decisively toward closing. We believe BioCannabis’ business and the broader health and wellness sector provide an attractive foundation for the next stage of CBDD’s development,” said Alexandre Nikulin, chief executive officer of CBD of Denver, Inc.

CBDD said it intends to provide additional updates concerning the transaction, BioCannabis’ operations, the anticipated corporate structure, and its future business strategy as material developments occur.

Run-Up to the Definitive Agreement

The September 15 signing is the latest disclosure in an acquisition review CBDD documented through a series of releases in 2026. Its Newsfile issuer archive lists a May 12, 2026 statement that management was actively pursuing potential strategic opportunities designed to position the company for long-term growth and enhance shareholder value, and a June 22, 2026 announcement of an updated corporate website reflecting the company’s strategic transformation. The archive also records a February 2025 announcement that the company would no longer seek to provide services to the German cannabis market, citing political uncertainty and what it described as the German government’s failure to provide guidance on acceptable business models.

On June 11, 2026, CBDD announced that its board of directors had authorized a strategic review of three merger candidates operating in the artificial intelligence industry, focused on businesses developing AI-powered tools designed to reduce time spent on daily operational activities across sectors including accounting, consulting, business management, and social media marketing. Candidates were to be evaluated on technology maturity, revenue model, addressable market, intellectual property portfolio, and management team depth, and the company said it was open to structures including reverse mergers, asset acquisitions, and joint venture arrangements.

On June 30, 2026, the company disclosed that it had entered the due diligence phase on a prospective, then-unnamed acquisition in the health and wellness sector: an operating business it said combines an established health and wellness platform with the practical application of artificial intelligence across day-to-day operations, using AI-powered technologies for customer engagement, process automation, operational efficiency, and business intelligence. That release said discussions remained ongoing, that no definitive agreement had been executed, and that management believed businesses with proven operating histories and demonstrated AI integration could provide a stronger strategic fit than companies focused principally on standalone AI development. “Our acquisition strategy has always centered on identifying businesses that can contribute meaningful long-term value,” CBDD director Mr. Roever said at the time.

CBDD is a publicly traded company that describes itself as an aspiring multi-asset operator focused on the technology, finance, and health and wellness sectors. It trades on OTC Markets under the ticker CBDD and lists its investor contact in Cape Town, South Africa.