Arizona CBD Company Being Bought for $13.7 Million
March 31, 2019 by erfa5t8
Cannabis company iAnthus announced its subsidiary has actually entered into a letter of intent to acquire the Arizona-based brand name CBD For Life. CBD For Life was introduced in Arizona in February of 2016. The brand’s CBD-infused discomfort management and charm products have been includedin a wide range of online and print publications including Forbes, Shape, Marie Claire, Women’s Health, Cosmopolitan and Appeal.” We’re excited to bring CBD For Life into the iAnthus household– our CBD brand name will offer iAnthus with even greater reach and a broader customer base, particularly in states that have
yet to implement major cannabis programs,” stated Beth Stavola, Co-Founder of CBD For Life. The company’s products are offered straight to consumers online and CBD For Life is presently dispersing to 750 retail places and actively on-boarding approximately 25 new places each week with a dedicated
sales channel dealing with national merchants. iAnthus anticipates to obtain 100 %of the equity interests in CBD For Life in return for 2,529,863 common shares of iAnthus. Based upon a fixed share rate of US$ 5.41( the closing price of ITHUF shares on the OTCQX since March 15, 2019), the stock factor to consider equates to US$ 13.7 million. At the closing of the deal, iAnthus likewise anticipates to pay back the arrearage and related accrued interest of CBD For Life in the quantity of roughly US$ 2.0 million in cash. According to industry experts, retail sales of CBD customer items are estimated to have been between US$ 600 million and US$ 2 billion in 2018. As a growing variety of CBD brand names and product types end up being increasable offered through varied retail channels, the CBD market is
forecasted to generate US$ 16 billion in retail sales by 2025. GET FREE GAIN ACCESS TO Success!
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