8:29 AM ET 5/6/20 | Dow Jones
DENVER, May 6, 2020 /PRNewswire/ — CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil products company (“CBDD”) that produces and sells Black Pearl CBD and Hemp products and the owner of CBD Social Network, has entered into an agreement to acquire a Swiss cannabis grower.
CBDD expects to close on the purchase CBD Welt 24, GMBH by the end May. CBD Welt 24 owns two Hemp grow facilities in Switzerland. CBD Welt is profitable with expected revenues between $800,000-1,200,000 per year. Revenue fluctuates with the current price of biomass and flower. Switzerland is a new market for CBD, having recently legalized using, manufacturing and growing Hemp. Being multiple years behind USA, there is room for exponential growth.
Swiss Industries Ventures, AG, CBDD’s controlling shareholder, is moving forward with its business plan and is devoting resources to expand CBDD’s revenue stream. “This is only the beginning,” said Marcel Gamma, CEO of Swiss Industries. “We have the business expertise and personnel to make this a success story and we will not rest until we have reached our goals of opening multiple retail outlets, grow facilities, building an extraction lab, and expanding our wholesale operations with CBDD. Swiss Industries is positioning itself as one of the leaders in the Swiss CBD industry and with the help, knowledge and contacts which CBDD brings to the table, we are confident in our success.”
CBDD is focusing its efforts on reducing retail pricing and developing new and unique products. CBDD is one of a handful of companies to offer a CBD product that is full spectrum without depending on THC to activate beneficial effects. Black Pearl CBD has 0% THC, and is not an Isolate where the THC is striped from the product rendering it useless. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry. Our products are available at www.blackpearlcbd.com and our Social Network site is https://cbdsocialnetwork.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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SOURCE CBD of Denver, Inc.
/Web site: http://www.cbdofdenver.com/
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May 06, 2020 08:29 ET (12:29 GMT)