The targeted acquisition is estimated to have a business value of approximately $10 million and projected 2024 gross revenues of up to $4.5 million
SCOTTSDALE, AZ / ACCESSWIRE / August 29, 2024 / CBD Life Sciences, Inc. (OTC PINK:CBDL), a leading publicly traded company in the CBD industry, is pleased to announce the signing of a Memorandum of Understanding (MOU) with a prominent entity in the cannabis sector. This strategic agreement signifies a pivotal moment in CBD Life Sciences' ongoing efforts to expand its footprint in the burgeoning New York market.
The MOU outlines the potential acquisition of a 45% ownership interest in a state-licensed Cannabis Dispensary located in New York. This dispensary, expected to be situated on Long Island, is positioned to become a key revenue generator for CBD Life Sciences. The acquisition, once finalized, is anticipated to unlock significant growth opportunities, further enhancing the company's presence and influence in the Northeast region.
"We are thrilled about the potential this MOU holds for CBD Life Sciences and our shareholders," said Lisa Nelson, President and CEO of CBD Life Sciences, Inc. "Securing a foothold in New York's dynamic cannabis market is a strategic move that aligns with our commitment to growth and delivering substantial returns to our investors. We are confident that this endeavor will drive considerable revenue growth and reinforce our leadership in the industry."
As part of the agreement, CBD Life Sciences, Inc. will be entitled to a share of the monthly profits from the dispensary's operations, subject to the completion of necessary approvals and the finalization of a formal, binding agreement. This expected revenue stream is in line with the company's strategy to maximize investor value while pursuing long-term sustainable growth.
CBD Life Sciences, Inc. continues to demonstrate its ability to leverage strategic partnerships and acquisitions to propel its business forward. This latest initiative is expected to solidify the company's competitive advantage and establish a strong presence in the lucrative New York cannabis market.
"We believe this strategic expansion will enhance our financial position and allow us to continue delivering consistent value to our shareholders," added Nelson. "Our mission remains clear: to expand our reach, increase profitability, and create long-term value for everyone involved."
About CBD Life Sciences, Inc.
The CBD Vault Inc. is a wholly owned subsidiary of CBD Life Sciences Inc. The CBD Vault has developed and is retailing/wholesale a full line of cannabidiol based & organic products including, Delta 8 & 10 Gummy's, Full Spectrum Tinctures & Gummy's, Pain Cream, Roll-on's, Salve, Full Pet Line, Pre-Rolls, Full Line of Spa Products, Sleep & Anxiety Edibles. The CBD Vault's products can be viewed and purchased on the Company's website www.thecbdvault.com.
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Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See CBD Life Sciences, Inc's, Inc.'s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements.
Contact Information
Lisa Nelson
CEO
cbdvaultaz@gmail.com
4802091720
SOURCE: CBD Life Sciences Inc.
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