Rocky Mountain High Brands Announces Consulting Ag
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Posted On: 04/15/2020 9:20:51 AM
Rocky Mountain High Brands Announces Consulting Agreement With Eagle Processing & Distribution
DALLAS, April 15, 2020 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTCQB: RMHB), a healthy lifestyle Company specializing in high-quality health and wellness products, announced today the Company has entered into a Consulting Agreement (the "Agreement"
with Eagle Processing & Distribution ("Eagle" .
Under the Agreement, Eagle has agreed to assume responsibility for all Company operations on a best-efforts basis for an initial term of three years. Eagle's responsibilities will include financing or assisting in arranging for financing of all production, purchase orders and inventory; sales and distribution; marketing; logistics and order fulfillment; production of all of the Company's products; inventory management and coordination; customer service; risk management, and other matters as set forth in the agreement.
As compensation, Eagle was issued 50,000,000 shares of the Company's Rule 144 common stock for services to be rendered during the initial eight months of the Agreement. Compensation for the remainder of the term of the Agreement will be negotiated and agreed upon prior to the expiration of the initial eight months.
The Agreement will allow the Company to eliminate or reduce certain overhead costs relating to wages, contractors, insurance costs, rent, storage, and logistics, as these costs will be borne by Eagle under the Agreement. The Company is still assessing the dollar impact of these savings.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., stated, "By engaging Eagle to oversee our entire operation, RMHB will have immediate access to Eagle's management expertise, technical expertise, co-packing capabilities, supply chain, and sales and distribution channels. The Company is now pursuing opportunities that it would not have been able to pursue prior to our relationship with Eagle. The combination of RMHB's strong product branding, coupled with the talent brought forth by Eagle, will revitalize our team, lower our overhead and help build the market value of RMHB."
A Form 8-K was filed yesterday with the Securities and Exchange Commission. To review the filing, please click on the following link:
https://www.sec.gov/Archives/edgar/data/16708...rmhb8k.htm
About Eagle Processing & Distribution
-- Based in an Opportunity Zone in North Dakota.
-- 100,000 Square Ft. Manufacturing Campus with two Separate Facilities.
-- Recently acquired control of RMHB's DFW co-packing facility for beverages,
which will be operated as a new subsidiary of Eagle.
DALLAS, April 15, 2020 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTCQB: RMHB), a healthy lifestyle Company specializing in high-quality health and wellness products, announced today the Company has entered into a Consulting Agreement (the "Agreement"
with Eagle Processing & Distribution ("Eagle" . Under the Agreement, Eagle has agreed to assume responsibility for all Company operations on a best-efforts basis for an initial term of three years. Eagle's responsibilities will include financing or assisting in arranging for financing of all production, purchase orders and inventory; sales and distribution; marketing; logistics and order fulfillment; production of all of the Company's products; inventory management and coordination; customer service; risk management, and other matters as set forth in the agreement.
As compensation, Eagle was issued 50,000,000 shares of the Company's Rule 144 common stock for services to be rendered during the initial eight months of the Agreement. Compensation for the remainder of the term of the Agreement will be negotiated and agreed upon prior to the expiration of the initial eight months.
The Agreement will allow the Company to eliminate or reduce certain overhead costs relating to wages, contractors, insurance costs, rent, storage, and logistics, as these costs will be borne by Eagle under the Agreement. The Company is still assessing the dollar impact of these savings.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., stated, "By engaging Eagle to oversee our entire operation, RMHB will have immediate access to Eagle's management expertise, technical expertise, co-packing capabilities, supply chain, and sales and distribution channels. The Company is now pursuing opportunities that it would not have been able to pursue prior to our relationship with Eagle. The combination of RMHB's strong product branding, coupled with the talent brought forth by Eagle, will revitalize our team, lower our overhead and help build the market value of RMHB."
A Form 8-K was filed yesterday with the Securities and Exchange Commission. To review the filing, please click on the following link:
https://www.sec.gov/Archives/edgar/data/16708...rmhb8k.htm
About Eagle Processing & Distribution
-- Based in an Opportunity Zone in North Dakota.
-- 100,000 Square Ft. Manufacturing Campus with two Separate Facilities.
-- Recently acquired control of RMHB's DFW co-packing facility for beverages,
which will be operated as a new subsidiary of Eagle.
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(1)Rocky Mountain High Brands, Inc. (RMHB) Stock Research Links
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