(GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTCQB:RMHB), a fully reporting consumer goods company specializing in hemp-infused food and beverage products and a naturally high alkaline water announced today that Jerry Grisaffi, Founder and Chairman of the Board of Directors, sold his controlling interest in the Company to LSW Holdings, LLC through a private transaction that closed on February 28, 2017.
Lily Li, Managing Member of LSW Holdings, LLC, said, “We are excited about our transaction with Mr. Grisaffi and RMHB. We believe that this Company will become a world-wide brand very soon. We plan to merge Rocky Mountain High China into the Company as a wholly-owned subsidiary in the near future. Rocky Mountain High China is currently a non-affiliated company and is the exclusive distributor for Rocky Mountain High Brands in China. This will allow Rocky Mountain High Brands to consolidate the revenue that we generate in China and will benefit the Company’s shareholders.”
Li continued, “We are also very excited about introducing a new hemp-infused ginseng plum drink into the Asian market. Plum is a huge seller in the Asian markets. With the expertise and resources of Rocky Mountain High Brands, we believe that we will be able to create this new drink and many others to bring to market very quickly. We are very pleased about what we have accomplished and will share future plans very soon.”
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., said, “We are thrilled with the investment by LSW Holdings and their commitment to Rocky Mountain High Brands. The resources that they bring to our Company will fund new product development, inventory production, innovative advertising and marketing campaigns and help us increase our distribution base both in the U.S and internationally. This is a major turning point for our Company and its shareholders.”
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