- NUGL will soon be finalizing the acquisition of specialized magazine company Nichols Publishing
- Through the deal, NUGL will gain access to the publishing company’s well-established audience of both cannabis professionals and enthusiasts
- The publisher’s purchase is just a first step in NUGL’s planned strategic expansion
NUGL Inc. (OTC: NUGL) is working toward the expansion of its business model through the purchase of Nichols Publishing Company – a well-known brand that has been issuing specialized magazines like Professional Marijuana Grower and Garden & Greenhouse for over a decade.
On October 15, 2018, NUGL announced that it has entered into a binding letter of intent for the purchase of the publisher. The acquisition will occur after a 30-day exclusive due diligence period and the execution of a definitive agreement, according to a company press release (http://nnw.fm/hNnL3).
NUGL will acquire 100 percent of Nichols Publishing in exchange for $1 million of the company’s common stock. Upon finalization of the acquisition, all publication activities will occur under the NUGL brand umbrella.
NUGL, a company setting a new standard of technology in the cannabis industry, will benefit from the industry-specific magazine audience that Nichols Publishing Company has established through the years. Professional Marijuana Grower targets professionals in the field, while Grower & Greenhouse addresses the needs of the home enthusiast. Both of these audiences already form an important part of the NUGL community.
Professional Marijuana Grower releases six issues per year, and the magazines are distributed among cannabis growing facilities, dispensaries and other industry representatives. A digital version of each issue is also posted online upon release. The total distribution and the online reach enable the magazine to generate an audience of 23,000 people per issue.
Garden & Greenhouse is mailed directly to subscribers, with a digital version also available online. The publication’s website averages over 30,000 visitors per month, and the total number of subscribers (plus the online audience) exceeds 41,000 people per issue.
The reach of the Nichols publications can be used to spread news about the NUGL technology and its importance for the innovative development of the cannabis industry.
NUGL Vice President of Sales Bob Waters said in a news release that the company’s customers currently utilize the services provided by the company, after which they leave. The magazines provide an opportunity to deliver high quality content to this audience for the purpose of growing engagement. According to Waters, NUGL intends to further grow the Nichols audience and expand the reach of the magazines.
The NUGL press release suggests that the acquisition of Nichols Publishing is just a first step in a strategic expansion process. The company has worked hard this year to update its Android and Apple apps and add new functionalities.
NUGL is the first cannabis search engine in the world aimed at enabling the most user-friendly experience in the respective industry. The app strives to provide unbiased and relevant search results, which is why paid-for listings are not featured.
Currently, NUGL can be used to search for strains, dispensaries, doctors, lawyers and various cannabis service providers (hydro stores, vape shops, etc.). Since there are no geographic limitations, NUGL can quickly connect cannabis companies and users interested in their services.
The NUGL brand-to-shop connection is a unique characteristic that enables the verification of cannabis brand retailers that are closest to the respective customer.