Timeline and Statements on Attempted Civilized Acquisition by New Frontier Data

October 2019: New Frontier Data announces intention to acquire Civilized Worldwide Inc. : https://newfrontierdata.com/cannabis-insights/new-frontier-data-to-acquire-leading-cannabis-lifestyle-media-company-civilized/

“Our plan is to merge sophisticated information platforms to offer detailed, accurate and timely predictive analytics and actionable intelligence to companies looking to connect with today’s cannabis consumer,” said New Frontier Data Founder and CEO Giadha A. DeCarcer. “Civilized’s intelligent and thoughtful relationship with millions of cannabis consumers provides brands with a responsible and compliant way to engage, inform and influence buying behavior in this unique global marketplace.”

December 2019: New Frontier Data announces plans to move forward with Civilized Worldwide Inc. acquisition following further due diligence: https://newfrontierdata.com/cannabis-insights/new-frontier-data-completes-diligence-moves-forward-with-civilized-acquisition/

“The Civilized brand and the content generated to engage cannabis consumers, influencers and multinational brands are world class and everything we expected; that said, during our diligence we identified areas for improvement,” said New Frontier Data Founder & CEO Giadha A. DeCarcer. “Civilized and New Frontier Data have agreed that, in order to allow an effective and successful restructuring, we need to halt day-to-day operations at Civilized, with a temporary lay-off of all staff. This will allow clarity to move forward, introduce additional technology, and ultimately strengthen Civilized’s ability to deliver and engage on a global scale.”

March 2020: Term sheet for New Frontier Data’s acquisition of Civilized Worldwide Inc. expires after the parties fail to reach agreement on valuation.

May 2020: Negotiations following the expiration of the initial term sheet come to a close.

June 2020: New Frontier Data issue statement on failed acquisition.

“New Frontier Data continues to assess ongoing and new transactions based on the actual value they will create and is prioritizing some deals accordingly and pausing others as needed. Following our diligence process with Civilized, disagreements on value could not be overcome despite ongoing negotiations that continued into May. New Frontier Data remains a significant investor in Civilized,” said New Frontier Data Founder & CEO Giadha A. DeCarcer.