HICKSVILLE, NY, Jan. 22, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Canbiola, Inc. CANB ("Canbiola" or the "Company"), a health and wellness company specializing in the highest grade CBD products on the market, announced today the signing of the year's first significant white label contract for CBD products for a multi-unit operator in the Eastern United States. The company has signed to provide private label products to the Canbiola custom specifications in our premium label series.
Based upon similar roll-outs, we anticipate this top performing product to do very well for the client, and look to expand the initial product offerings. This first agreement of 2020 is a direct result of our stated efforts to expand our white label and private label business. The company currently has manufacturing capacity of up to $40 million at wholesale in our Lacey, Washington R&D lab and production facility and through its targeted sales efforts the company looks to capitalize on this available capacity. Parties interested in a high volume, lower cost, high quality private label production should contact the company directly.
CEO Marco Alfonsi stated, "We've hit the ground running and are focused upon accretive results for our shareholders this year. With a clear and concise plan in place, the team is working towards these goals with optimism and enthusiasm."
About Canbiola, Inc.
Canbiola, Inc. (OTCQB: CANB) is a vertically integrated conglomerate specializing in the manufacturing, formulation, and sale of THC-Free Cannabidiol (CBD) Isolate products such as oils, drops/tinctures, gels, creams, moisturizers, chews, and capsules. All Canbiola products are organic and Non-GMO, free of impurities and contaminants, and formulated with the finest ingredients to the highest manufacturing standards. All products are certified for purity and accuracy by third-party laboratory verification.
Canbiola pursues an aggressive growth strategy through the continual development of proprietary products and the expansion of its offerings via strategic acquisitions in the healthcare and CBD industries.
Canbiola has created several innovative CBD product lines, marketed through targeted channels including:
· The Canbiola clinical line, which is marketed and promoted through healthcare practitioners in the medical setting.
· The Pure Leaf Oil (consumer brand) and Seven Chakras (spa brand) lines are sold through both online and brick & mortar retail outlets.
Canbiola's state-of-the-art manufacturing facility in Lacey, WA is operated by Pure Health Products LLC (PHP), a wholly-owned subsidiary that produces all of the Company's CBD Isolate products, in addition to providing private label and white label solutions for companies looking to add high-quality CBD items to their offerings. Canbiola is passionate about improving people's lives and takes pride in providing pure CBD products infused with organic and natural ingredients. We want customers to know that they are buying lab-tested, high-quality natural products at a great price.
Canbiola's Radical Tactical LLC subsidiary produces CBD products in other forms including vapes and gums.
Duramed Inc. and Duramed NJ LLC, wholly-owned subsidiaries of Canbiola, further the mission of providing innovative products designed to improve people's lives, aiming to reduce their use of opioid substances through the utilization of durable medical devices. This product line includes a wearable low-intensity ultrasound SAM (Sustained Acoustic Medicine) device delivering multi-hour treatment intended to accelerate healing, improve function for musculoskeletal injuries (muscle, tendon, ligament), and reduce chronic pain (without opioid pain medication).
With the creation of its newest wholly-owned subsidiary, NY Hemp Depot LLC, Canbiola has attained complete vertical integration, allowing it to fully control the supply chain from seed to sale, develop customized products and maximize profit margins. Through the utilization of its newly acquired NY State Hemp Cultivation License, the Company contracts with farmers throughout the state of NY to cultivate specific strains of hemp, which is then processed into CBD Isolate products to Canbiola's exacting manufacturing standards and specifications at the Company's laboratory and production facility.
The Company has closed an agreement to acquire 51% of the outstanding interests in Green Grow Farms Inc.
For more information about Canbiola, Inc., please visit: Canbiola.com
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.
Follow Canbiola on:
Twitter @CanbiolaHealth
Instagram @canbiola.inc or @canbiola_cbd or @canbiola_medical_cbd
Investors and Media:
(646) 397-2309
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
