ROCKLEDGE, Fla., April 12, 2017 (GLOBE NEWSWIRE) -- Elev8 Brands, Inc. (OTC Pink:VATE), a holding company focused on the commercial development of hemp and CBD-based products within the health and wellness markets announces the launch of a new line of hemp-derived E-juices, CBD-based tinctures, and water-soluble CBD.
The innovative new products have been ordered and expected to be delivered and ready to sell by the end of the month. Elev8 Brands, Inc. is launching these products in select test markets in the Midwest, as well as through its wholly-owned subsidiary 02 Breathe which is an oxygen bar that also markets massage products, CBD-rich oils and lotions.
Elev8 Brands, Inc. addition to its growing portfolio of products is intended to participate in the blossoming CBD market. The CBD consumables market is forecasted to grow exponentially over the coming years. The Hemp Business Journal ( https://www.hempbizjournal.com ) estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year, forbes.com .
Chief Executive Officer Ryan Medico stated, “We are excited to launch these revolutionary products that address demand in an industry segment that is growing exponentially. Our team spent a significant amount of time vetting and testing the products we believe are a game changer for the industry.”
Elev8 Brands, Inc. will launch a variety of E-Juices that are CBD rich and available in a variety of flavors including Peach, Mango, Mint, Unicorn Punch and Watermelon. These high-quality products will target brick and mortar vape shops, wholesalers, and distributors. Medico continued, “We are having initial success marketing Elev8 Hemp Coffee to the retail vape scene and have received inquiries for CBD products. With demand high we felt this was a great opportunity to expand our products, brand, and presence.”
The Company also announces the unveiling of the highest concentrated water soluble CBD ingredient available on the market today. This water-soluble CBD is THC-free and can be used in beverages such as coffee, tea, and water. Elev8 Brands, Inc. plans to run samples tests of this CBD in current coffee and tea products under development. Additionally, the company is in discussions with an organic juice manufacturer to provide the water-soluble CBD in bulk.
Medico concluded, “We are aggressively pursuing innovative products in the hemp and hemp-derived CBD arena and are thrilled to add these products to our lineup. As we complete test markets and identify successful products our plan is to expand nationally with the products where concepts are proven and ready for commercial scale-ip and national distribution.”
Hemp-derived Cannabidiol (CBD) being used for these products is the part of the cannabis plant that is typically used for health and medicinal purposes versus recreational use. The CBD products Elev8 is launching are derived from industrial hemp plants.
About Elev8 Brands, Inc.:
Elev8 Brands, Inc. specializes in the development and marketing of products for the fitness and wellness markets. The company is founded on the basis of creating high-quality, sustainable, products for health conscious consumers.
About Elev8 Hemp LLC:
Elev8 Hemp LLC is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the development and marketing of hemp-based food, beverage, and health care products including hemp coffee, hemp water, and hemp-based skin care products.
Please visit, www.elev8hemp.com for more information
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
Contact: Ryan Medico info@elev8hemp.com
