Press Releases, CBD OF DENVER, INC. (CBDD) Signs Agreement to Acquire 2nd Swiss Company.
DENVER, May 18, 2020 /PRNewswire/ -- CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company ("CBDD") that sells Black Pearl CBD and hemp products and the owner of CBD Social Network, announces that it has signed an agreement to acquire a Swiss CBD retailer.
"We are very pleased to announce that CBD of Denver, Inc. just signed an acquisition agreement with Royal Green GmbH, our second acquisition," said CBDD CEO Marcel Gamma. "Royal Green currently operates a full-service CBD retail store. Their current revenues are approximately $600-700,000. The company is anticipating the opening of a new retail outlet in Zurich and their goal is to open 3-4 additional stores throughout Switzerland." Royal Green also maintains an online ecommerce website https://www.royalgreencbd.ch/
With this 2nd acquisition, CBDD and its majority shareholder Swiss Industry Ventures, AG, are positioned to become a leader in the Swiss CBD market. Switzerland is in a central location, surrounded by 5 EU countries and is the business and banking hub of the Europe. The company looks to expand its customer base quickly in adjoining countries.
CBDD has engaged Executive Industries, Inc. to complete our ongoing financial filings and keep us in compliance with OTC Markets. We have also retained Jonathan D. Leinwand, P.A., a law firm experienced in CBD, cannabis, corporate and securities law. Their expertise in mergers and acquisitions will be an indispensable asset as we move forward with our corporate objectives.
The Revenues from the first two acquisitions will be consolidated and included in our Q2 financial filing due on June 30th.
CBDD offers a superior CBD product that is full spectrum without depending on THC to activate the benefits of cannabidiol. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry. Our products are available at www.blackpearlcbd.com.
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