PLAYA VISTA, CA / ACCESSWIRE / March 22, 2019 / American Premium Water Corporation's CEO has issued a statement regarding CVS the correction PR issued today:
"I applaud CVS for their decision to start selling CBD infused products. They have shown to be progressive on certain health care policies and their position on CBD is no different. I do believe this could be a watershed moment for CBD products in big box retailers, and at the very least, open the discussion for other big box stores to loosen their apprehension of the CBD category. There are lots of large opportunities in the pipeline that I believe they will begin to open up with the decision that CVS has made. While CVS has shown they are trying to be ahead of the CBD curve, there continues to be a lot of resistance in the space, and I am disappointed by the Center's stance on CBD products. The Company was acting in good faith with the franchisee who we've sold too before. The Company had an invoice for the products, but as I found out later, internal corporate approvals were not received, as its against corporate policy to sell CBD products, so we can't move forward to sell LALPINA CBD there at this time. The Company will still be engaged in conversation with them, and ironically, we now have a closer relationship with them then we did before, so long term I believe this will be a positive for the Company. The impact on the P&L will be minimal; the larger macro takeaway is that this instance illustrates the large opportunity in the CBD space as large chain stores (like them) are still having an aversion to CBD products, even with the passing of the 2018 Farm Bill. This is still a developing industry, and I will make sure the Company is at the forefront to ride the waves, high and low, to emerge eventually on the sandy beaches on the other side."
About American Premium Water Corp.
American Premium Water (OTC PINK: HIPH) is a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of hydrogen and Nano technologies paired with cannabidiol (CBD) to treat health disorders and enhance quality of life. This business model aims to market emerging fashion brands by leveraging classic retail partners and incorporating disruptive blockchain technologies to expand the retail footprint. The company's portfolio includes the LALPINA Hydro and LALPINA Hydro CBD brands (www.LalpinaInc.com), LALPINA Productions, LALPINA Records, Gents (www.gentsco.com), Worthy, and blockchain platform FashionCoinX (www.FashionCoinX.com).
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation
SOURCE: Uptick Newswire
View source version on accesswire.com: