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CBD Global Sciences (OTC: CBDNF) announces the expansion of its distribution channel by partnering with Legacy Distribution Group to introduce new brands. The highlight is the exclusive distribution of Rap Snacks Lil’ Baby’s Oowee Lemonade across Colorado and Wyoming, featuring five flavors. This partnership aims to enhance product offerings, targeting a rise in consumer demand. CEO Brad Wyatt expresses confidence in the success of the partnership, emphasizing the quality of the new product line. CBD Global aims to expand its reach in the CBD market while ensuring a robust distribution strategy.
CBD Global Sciences (OTC: CBDNF) announced its expansion into new product offerings through a partnership with Legacy Distribution Group. The company executed an exclusive distribution agreement with RAP SNACKS® for Colorado and Wyoming, enhancing its product portfolio with a non-CBD snack line. CEO Brad Wyatt highlighted the anticipated demand for these snacks, which combine hip-hop culture and innovative flavors. This move aligns with CBD Global's strategy to grow its distribution capabilities and product range, paving the way for further development in retail and e-commerce.
On October 15, 2021, CBD Global Sciences (OTC: CBDNF) completed its acquisition of Resinosa LLC, a CBD company based in Colorado. This acquisition, finalized after six months of due diligence, positions CBD Global to enhance its product offerings, leveraging Resinosa's expertise in hemp processing and manufacturing certified health products. Resinosa can produce 1,320 kilos of full-spectrum CBD oil monthly, potentially generating an estimated retail value of $46.2 million. The transaction includes common and preferred shares, and a convertible note of $1.5 million with an interest rate of 8%.
CBD Global Sciences (OTC: CBDNF) announced the dismissal of its litigation with Unleashed Entertainment LLC, with no damages awarded. The case, filed over six months ago, was dismissed on October 14, 2021. CEO Brad Wyatt expressed relief at moving past this distraction, emphasizing a renewed focus on enhancing company revenues and valuation. CBD Global is a producer of hemp-based CBD products, operating under brands like Aethics™ and CANNAOIL, and aims to expand its retail presence significantly in the coming years.
CBD Global Sciences (OTC: CBDNF) has announced the expansion of its distribution channel by incorporating new brands, notably FeelGood Superfoods. Legacy Distribution Group, a subsidiary, will distribute FeelGood's Immune Support Shots, expected to boost sales due to its high-quality ingredients and consumer demand for health products. CEO Brad Wyatt emphasized the product's efficacy and appeal, positioning it as a key element in their growing portfolio. The company aims to capitalize on increased market presence, planning to expand distribution beyond Colorado and Wyoming.
CBD Global Sciences (OTC: CBDNF) announces the expansion of its distribution channel by partnering with Legacy Distribution Group to introduce Gorilla Hemp, a CBD-infused energy drink. The drink combines wellness effects of 20mg CBD with other performance-enhancing ingredients. CEO Brad Wyatt expressed optimism about the collaboration, expected to increase distribution points and market presence in the CBD sector.
CBD Global Sciences (OTC: CBDNF) announced its participation in the 14th Annual LD Micro Main Event on October 12, 2021, where CEO Brad Wyatt will present. The presentation, from 9:00 AM to 9:25 AM EDT, will focus on the company’s operations and its upcoming acquisition of manufacturing firm Resinosa. This event allows CBD Global to engage with analysts and investors while highlighting its growth plans, including a goal to expand distribution to over 5,000 stores.
CBD Global Sciences (OTC: CBDNF) has announced the acquisition of 100% of Resinosa LLC, a vertically integrated CBD company based in Colorado. This strategic move aims to enhance CBD Global's manufacturing capabilities and product offerings, particularly in health and wellness sectors. The acquisition involves the issuance of over 5 million common shares and a $1.5 million convertible note. Resinosa's assets can produce full-spectrum CBD oil valued at approximately $46.2 million per month. Closing is anticipated by October 15, 2021, subject to due diligence.
CBD Global Sciences (OTC: CBDNF) announced that its cease trade order is revoked, allowing common shares to resume trading on September 28, 2021. The company faced challenges due to the pandemic and has undergone Chapter 7 bankruptcy proceedings for two subsidiaries. Following these challenges, CBD Global anticipates under $1M in debt, reflected in Q3 financials. Additionally, the company successfully acquired Aethics and CannaOil brands out of bankruptcy, marking a significant turnaround as they prepare for relaunch.
CBD Global Sciences (OTC: CBDNF) has shared details on its recent debt restructuring and the conclusion of two Chapter 7 bankruptcies for its subsidiaries. Post-bankruptcy, the company anticipates retaining under $1 million in debt with a market cap of $7.5 million, viewing this as undervalued. The company is shifting focus towards finished goods, distribution, and retail e-commerce. CEO Brad Wyatt remains optimistic about future financials and market positioning despite the challenges faced during the pandemic and litigation issues that resulted in bankruptcy filings.