Canna Consumer Goods, Inc. (OTCPK:CBMJ) entered into a letter of intent to acquire DeDonato Enterprises, L.L.C. for $2 million on September 1, 2020. Under the terms of the transaction, Canna Consumer Goods will acquire 100% of the membership interest of DeDonato. The consideration consists of $0.2 million cash, $1.8 million note and potential restricted stock with a two-year hold. Effective as of the closing of the transaction, DeDonato will remain a wholly owned subsidiary of Canna Consumer Goods. Brandon Vallorani will join the board of directors of Canna Consumer Goods and will continue to serve as the Chief Executive Officer of DeDonato. Additionally, DeDonato will continue to operate in its current location. Completion of the transaction is subject to, among other things, the completion of due diligence, the negotiation and execution of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein, and the satisfaction of other customary closing conditions. As of September 3, 2020, Canna Consumer plan is to complete the customary due diligence in the next three weeks including the signing of a Definitive Agreement. As of September 3, 2020, the transaction is expected to close in September 2020. The acquisition would add 2 million in revenue and positive cash flow. Canna Consumer Goods, Inc. (OTCPK:CBMJ) completed the acquisition of DeDonato Enterprises, L.L.C. on October 7, 2020. The transaction is immediately accretive on revenue per share, EBITDA per share, and earnings per share basis.