We should hear an update with the 'Three Year Mast
Post# of 75384
(Total Views: 753)
Posted On: 12/30/2020 11:46:48 AM
Re: adirondackhi #66529
We should hear an update with the 'Three Year Master Manufacture Agreement' we have with CBD Life, (CBD Alimentos SA de CV (“CBD”)) which originally started in Dec 4th, 2017.
Since we are obviously past 12/04/20, and we continue to produce beverage products and ship to CBD Life for Mexico, per the recent pics, there should be a general update to this original agreement with some kind of extension language and any business relationship changes with CBD Life.
-- Perhaps someone here can email Paul K. and find out RMHB relationship stance with CBD Life since we are now past the 3-YR point, the update is needed!
See OTC 8-K link put out on Dec 15th 2017:
https://www.otcmarkets.com/filing/html?id=124...a87g1sJHth
SECTION 1 – Registrant’s Business and Operations
Item 1.01 Entry Into A Material Definitive Agreement
On December 4, 2017, we entered into a three-year Master Manufacturer Agreement (the “Agreement”) with CBD Alimentos SA de CV (“CBD”), a Mexican food and beverage distributor. Under the Agreement, CBD will be our exclusive distributor in Mexico of all of our energy and soft drinks with hemp seed oil and hemp seed extract. In turn, we will be CBD’s exclusive supplier of such products. For the exclusivity to remain effective through 2018, we must supply, and CBD must purchase, at least 16,000,000 cans. Volume requirements for 2019 will be negotiated. The beverages supplied to CBD will be private label products made to order for CBD, and we will cooperate on laboratory and taste-testing of each batch of beverages at the copacking facility. CBD’s initial purchase order will be at least 8,000,000 cans, with a 50% deposit on all orders to be segregated into a separate operating account established and maintained by the Company. CBD will maintain a positive cash balance in the account at all times. The Company will have full unilateral authority to disburse funds from the account to vendors, suppliers, copackers and the Company solely for the purposes of production and the Company’s margin on the sale.
The foregoing description of the Agreement is not complete and is qualified by reference to the full text of the document, a copy of which is filed as an Exhibit to this Form 8-K and is incorporated by reference herein.
Since we are obviously past 12/04/20, and we continue to produce beverage products and ship to CBD Life for Mexico, per the recent pics, there should be a general update to this original agreement with some kind of extension language and any business relationship changes with CBD Life.
-- Perhaps someone here can email Paul K. and find out RMHB relationship stance with CBD Life since we are now past the 3-YR point, the update is needed!
See OTC 8-K link put out on Dec 15th 2017:
https://www.otcmarkets.com/filing/html?id=124...a87g1sJHth
SECTION 1 – Registrant’s Business and Operations
Item 1.01 Entry Into A Material Definitive Agreement
On December 4, 2017, we entered into a three-year Master Manufacturer Agreement (the “Agreement”) with CBD Alimentos SA de CV (“CBD”), a Mexican food and beverage distributor. Under the Agreement, CBD will be our exclusive distributor in Mexico of all of our energy and soft drinks with hemp seed oil and hemp seed extract. In turn, we will be CBD’s exclusive supplier of such products. For the exclusivity to remain effective through 2018, we must supply, and CBD must purchase, at least 16,000,000 cans. Volume requirements for 2019 will be negotiated. The beverages supplied to CBD will be private label products made to order for CBD, and we will cooperate on laboratory and taste-testing of each batch of beverages at the copacking facility. CBD’s initial purchase order will be at least 8,000,000 cans, with a 50% deposit on all orders to be segregated into a separate operating account established and maintained by the Company. CBD will maintain a positive cash balance in the account at all times. The Company will have full unilateral authority to disburse funds from the account to vendors, suppliers, copackers and the Company solely for the purposes of production and the Company’s margin on the sale.
The foregoing description of the Agreement is not complete and is qualified by reference to the full text of the document, a copy of which is filed as an Exhibit to this Form 8-K and is incorporated by reference herein.
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