Kuboo Subsidiary, Northsight Capital, Receives Preliminary Investor Commitments for Approximately $500,000 in Funding
March 10 2014 - 8:30AM
Marketwired
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.
Forward-Looking Statements 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.
Contact: Northsight Capital, Inc. Info@MarijuanaAdGroup.com John
Venners, CEO
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