NEW YORK, Nov. 07, 2019 (GLOBE NEWSWIRE) — by way of OTC PR WIRE — PRESS RELEASE — Sun Kissed Industries Inc., an emerging player in the CBD marketplace, has announced the signing of a Letter of Intent (the LOI) to obtain Hakuna Provide/Solutions Group, Inc., a premier income-producing CBD-primarily based merchandise firm positioned in California with more than 110 established retail distribution partners across more than 20 states in the domestic US marketplace.
“This is the deal we have been hunting to thrust Sun Kissed onto the international CBD merchandise marketplace stage in a significant way,” commented Carl Grant, Sun Kissed CEO. “Hakuna is a effectively-respected private marketplace leader in CBD-primarily based merchandise with a enormous effectively-established distribution footprint. The firm is currently a significant player in the space with considerable attain and will provide more than a million dollars in instant income for Sun Kissed on a forward basis.”
Hakuna provides award-winning higher-finish CBD-primarily based merchandise, like CBD Hemp Roast Coffees, CBD Coffee Bundles, CBD Tea Bundles, CBD Drink Drops, CBD Gummies, CBD Flower, a variety of premium CBD Teas, and other premium merchandise.
- Hakuna Provide received the DOPE Magazine Most effective New Solution award for Southern California in the non-cannabis/non-tech category in 2017
- Hakuna’s coffee is presently nominated for “Best Hemp-Derived CBD Product” by the California cannabis awards
The LOI represents an agreement to pursue a transaction in which 100 % of the issued and outstanding shares of Hakuna will be bought by means of a definitive stock acquire agreement by Sun Kissed on or ahead of Nov. 22, 2019.
“According to each and every significant investigation firm familiar with this marketplace, the dramatic explosion in development we are seeing in the CBD space is becoming fueled by a enormous wave of mainstream adoption amongst standard U.S. and international customers,” continued Grant. “That development is only anticipated to additional accelerate in the months and quarters ahead, and Hakuna puts us quickly on the map as a marketplace major force to be reckoned with.”
Investigation firm MRFR sees the international CBD marketplace increasing at far better than 125 % annually by means of 2026. Brightfield Group joins in this view, adding that 2019 alone will show more than 900-% expansion in total sales of CBD-primarily based merchandise across all associated item groups.