1) CDIX is going to merge with Acela Biomedical, LLC
FT. LAUDERDALE, Fla., Aug. 23, 2019 (GLOBE NEWSWIRE) -- Cardiff Lexington Corporation (OTC:CDIXBB) and Acela BioMedical, LLC in Maysville, Ky announced today that they have signed a Letter of Intent whereby Acela BioMedical would become a subsidiary of Cardiff Lexington.
The parties have been in confidential discussions and negotiations for several months having reached agreement in principal and are working diligently to finalize their transaction as visualized in their recently executed Letter of Intent.
3) Congressman Thomas Massie visited the Acela CBD facility in Maysville, Kentucky
12 August at 08:38 ·
I had the opportunity to tour the Acela CBD facility in Maysville, Kentucky last week. It’s always exciting to see how the new industrial hemp industry has boosted the economy in Kentucky—especially when I’m able to wear a lab coat which reminds me of my days at the Massachusetts Institute of Technology. Acela CBD is a particularly innovative startup. This company is entirely local, contracting with Kentucky farms to supply industrial hemp, honey, lemongrass, lavender, and other ingredients to use in their own products.
Thanks to Acela CBD CEO Andrew Culbertson and Basil Mattingly for your hospitality and conversation.
4) Acela represents 10% of Kentucky's hemp growers . The company will produce up to 9,000 liters of CBD oil per month by 2020.
The Company recently put out a letter of intent to merge with Acela Biomedical, LLC and asked about this new development. Cunningham explained that Acela Biomedical is a clinical stage Biotech verified hemp grower, distributor, processor, extractor, and retailer that specializes in CBD oil production. "We think our partnership with Acela Biomedical affords Cardiff Lexington an incredible opportunity.", said Cunningham. He further explained that the Acela Biomedical offers soil-to-bottle CBD that has been rigorously tested for its quality, while also providing leading extraction methods. "Acela represents 10% of Kentucky's hemp growers.", added Cunningham.
Cunningham continued to elaborate on Acela Biomedical's cutting edge CBD processes, and shared that the Company expects that their new partner will produce up to 9,000 liters of CBD oil per month by 2020. "That's really important when you understand that one liter of high-quality CBD oil sells for $1,000-$3,000 on the market."