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CRUZANI to Acquire Vitamin Infused Water Beverage Company as First Step to Entering New Infused Products Market
https://globenewswire.com/news-release/2018/1...arket.html
October 16, 2018 08:15 ET
Source: CRUZANI, Inc.
ATLANTA, Oct. 16, 2018 (GLOBE NEWSWIRE) -- CRUZANI, Inc. (OTC Markets: CZNI), a business development company focused on creating and acquiring global franchise concepts, along with peripheral food-related businesses, is excited to announce that it is finalizing its agreement to acquire an established functional beverage company that has had sales and distribution in major retailers throughout the United States.
CRUZANI will be entering the functional beverage market with the acquisition of a popular vitamin enhanced water beverage. This will be the 1st stage of their entry into the infused products market. The acquisition will be filed with the U.S. Securities and Exchange Commission with a FORM 8-K filing, later this week.
CRUZANI is also exploring the feasibility of adding a reformulated version of the current beverage line, to include infused CBD which could be launched into various jurisdictions that require non-psychoactive CBD permitting and licensing to legally do so. Cannabidiol (CBD) is the part of the cannabis plant that doesn't get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes. The CBD products are either derived from industrial hemp plants or marijuana plants. Hemp-derived CBD is currently legal in 46 states and The Hemp Business Journal has estimated hemp and CBD food, beverage, and cosmetics will grow to a $1.8 billion market by 2020.
CRUZANI’s CEO, Everett Dickson, commented: “This acquisition will add another dimension to our growing line of product offerings. We are thrilled to continue to expand our image to include enhanced beverage and products. We will continue to look for opportunities to grow this alongside our traditional business lines, which include nearly $7mm in assets and a growing revenue base. This infused vitamin water formulation has already been commercially available. Once the transaction is closed, we will look to 're-launch' it using new distribution channels. We have concluded negotiations on the terms, signed an LOI and are beginning to work on definitive agreements. We expect the transaction to fully close in the next 2-3 weeks.”
Mr. Dickson can be followed on Twitter via https://twitter.com/CruzaniCEO
About CRUZANI, Inc.
CRUZANI Inc., formerly US Highland, Inc., is a franchise development company that builds and acquires popular franchise concepts, and other food related businesses, throughout the United States and International markets. Our management team selects up and coming concepts with substantial growth potential. We bring fresh innovative brands to consumers that have great potential. All of our brands are unique in nature by focusing on niche markets with untapped potential for development. CRUZANI maintains a social media account for the purposes of SEC Fair Disclosure at https://twitter.com/CruzaniCEO.
For More Information:
Everett M. Dickson, CEO
everettmdickson@gmail.com
3500 Lennox Road, Suite 1500
Atlanta, GA 30326
+1 (404) 419-2253
CRUZANI to Acquire Vitamin Infused Water Beverage Company as First Step to Entering New Infused Products Market
https://globenewswire.com/news-release/2018/1...arket.html
October 16, 2018 08:15 ET
Source: CRUZANI, Inc.
ATLANTA, Oct. 16, 2018 (GLOBE NEWSWIRE) -- CRUZANI, Inc. (OTC Markets: CZNI), a business development company focused on creating and acquiring global franchise concepts, along with peripheral food-related businesses, is excited to announce that it is finalizing its agreement to acquire an established functional beverage company that has had sales and distribution in major retailers throughout the United States.
CRUZANI will be entering the functional beverage market with the acquisition of a popular vitamin enhanced water beverage. This will be the 1st stage of their entry into the infused products market. The acquisition will be filed with the U.S. Securities and Exchange Commission with a FORM 8-K filing, later this week.
CRUZANI is also exploring the feasibility of adding a reformulated version of the current beverage line, to include infused CBD which could be launched into various jurisdictions that require non-psychoactive CBD permitting and licensing to legally do so. Cannabidiol (CBD) is the part of the cannabis plant that doesn't get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes. The CBD products are either derived from industrial hemp plants or marijuana plants. Hemp-derived CBD is currently legal in 46 states and The Hemp Business Journal has estimated hemp and CBD food, beverage, and cosmetics will grow to a $1.8 billion market by 2020.
CRUZANI’s CEO, Everett Dickson, commented: “This acquisition will add another dimension to our growing line of product offerings. We are thrilled to continue to expand our image to include enhanced beverage and products. We will continue to look for opportunities to grow this alongside our traditional business lines, which include nearly $7mm in assets and a growing revenue base. This infused vitamin water formulation has already been commercially available. Once the transaction is closed, we will look to 're-launch' it using new distribution channels. We have concluded negotiations on the terms, signed an LOI and are beginning to work on definitive agreements. We expect the transaction to fully close in the next 2-3 weeks.”
Mr. Dickson can be followed on Twitter via https://twitter.com/CruzaniCEO
About CRUZANI, Inc.
CRUZANI Inc., formerly US Highland, Inc., is a franchise development company that builds and acquires popular franchise concepts, and other food related businesses, throughout the United States and International markets. Our management team selects up and coming concepts with substantial growth potential. We bring fresh innovative brands to consumers that have great potential. All of our brands are unique in nature by focusing on niche markets with untapped potential for development. CRUZANI maintains a social media account for the purposes of SEC Fair Disclosure at https://twitter.com/CruzaniCEO.
For More Information:
Everett M. Dickson, CEO
everettmdickson@gmail.com
3500 Lennox Road, Suite 1500
Atlanta, GA 30326
+1 (404) 419-2253
