LOS ANGELES, CA, Dec. 27, 2022 (GLOBE NEWSWIRE) — Social Life Network, Inc. (OTC: WDLF), a Technology Business Incubator (TBI) that holds a 15% stake in each of the companies that participate in its TBI program, has announced (Read press release:
) that one of its TBI companies operating in the legalized cannabis industry, WeedLife, Inc. has executed a Letter of Intent to acquire Saving Grace Oil, Inc, a CBD company.
“The business model of roll-up mergers by our TBI companies is meant to rapidly increase their bottom-line revenues, while leveraging their social networking audience to increase product and brand awareness,” said CEO, Ken Tapp. “Our focus in the TBI program during the second half of this year has been to aid companies like HuntPost.com and WeedLife.com through the process of strategically rolling up companies that will result in immediate and meaningful bottom-line revenue growth”, added Tapp.
Social Life’s TBI program supports sector specific social networking ecommerce companies, each of which it owns a 15 percent interest and receives 5% of their revenues. Multiple TBI licensees are currently aiming to increase bottom-line annual revenues by $25 million in 2023 through strategic roll-up mergers.
About Social Life Network and Decentral Life, Inc.
Decentral Life is a SaaS company providing blockchain and AI technology through license agreements, with a division of the company, Social Life Network, that operates a Technology Business Incubator (TBI) that provides tech start-ups with executive leadership and consulting, making it easier for start-up founders to focus on raising capital, perfecting their business model, and growing their customer base and usership.
Since the formation of the company in January of 2013, the TBI program has aided in the launch of niche industry social network and ecommerce marketplaces that service the tens of millions of business professionals and consumers in the residential real estate industry, the legal global cannabis industry, sports verticals including racket sports, golf, cycling, soccer, space exploration, motor sports, travel, hunting, fishing, and camping.
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Social Life Network, Inc.
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