SAN DIEGO, April 23, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Green Hygienics Holdings Inc. GRYN ("Green Hygienics" or the "Company"), a company focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical grade-bioactive cannabinoids, is very excited to announce it has entered into a letter of intent (the "LOI") to acquire Bohemian Beverage Co. The LOI was executed on April 19, 2021, and, currently, the stakeholders are working on the definitive agreement.
Bohemian Beverage Co. is a profitable, revenue-generating entity with an extraordinary brand portfolio of more than 20 unique beverage brands, including CBD-infused teas, kombuchas, beers, ciders, ready-to-drink cocktails and more, which are directly distributed and sold through the company's own subsidiary storefront. Bohemian Beverage Co. was also the very first brewery, cidery, distillery and manufacturer of CBD beverages in the state of Virginia. By creating stylish, youthful, sexy branding, promoted by skillful marketing through social media and successful event planning, they have sustained interaction, engagement and participation from their target market.
"Over the past nine years, we've created a new beer with a unique recipe, label and marketing plan every two weeks," said Bohemian Beverage Co. founder Josh Canada. "More than 230 beverages later, we're leveraging these talents to launch several exciting new brands in the CBD, nonalcoholic, cider and ready-to-drink categories."
The current demand for Bohemian Beverage Co. products is outpacing the current production capabilities. To meet the growth, the next step in their expansion is to build a state-of-the-art production facility that has the capability and licencing to produce beer, distilled spirits, cider, wine, CBD-infused and nonalcoholic beverages. This serves to leverage both existing and new distribution networks to grow current brands and expand upon brands in development. As part of this transaction, Green Hygienics will invest in the construction of a larger bottling facility, "The Grove Brewery," that is combined with a farmers' market on a 5-acre land parcel ideally situated on Portsmouth Boulevard in Chesapeake, Virginia. Virginia became the first Southern state to legalize marijuana just two weeks ago, as lawmakers voted to approve Gov. Ralph Northam's proposed changes to a bill that will allow adult cannabis use starting in July 2021.
"The beverage sector is very competitive and there is a steep learning curve. This strategic acquisition will allow us to enter the CBD-infused drink market supported by expertise and existing distribution while mitigating risk and, more significantly, will bring immediate revenue and hard assets to our financials. When you compare this brand portfolio to any of the large marketers in the space, it quickly becomes evident what extraordinary potential exists in this opportunity," stated Ron Loudoun, CEO of Green Hygienics. "Consider the margins in this business model where you create, manufacture, retail (at your own facility) and distribute, as well! We are very excited about entering this lucrative market and launching our beverage division in such a sensible manner. Green Hygienics can provide a strategic advantage in the marketplace by introducing novel cannabinoids and targeted bio-delivery technologies to the formulations. The Bohemian Beverage Co. team has laid the foundation for something fantastic. We look forward to working with them and taking this to the next level."
About Bohemian Beverage Co.
Bohemian Beverage Co. is a beer and libations think tank and hatchery. We produce our own industry-disrupting potables while lending our brewing and branding services to like-minded creators.
We're fueled by the beverage market's constant innovation. Our team of industry experts is always scanning for unchartered waters, allowing us to sit at the forefront of trends and developments. We're a passionate crew who deliver high-quality products to human beings everywhere.
What started as Back Bay Brewing Company rapidly expanded to include The Farmhouse, Tarnished Truth Distillery, Crunchy Hydration and Coastal Cocktails. After realizing how effective our innovative formula for libation-making really was, we invited others in. We still brew and mix our own stuff, but we have the room and creativity to do the same for other brands finding their footing.
The current demand for Bohemian Beverage brands far outpaces the current production capabilities. The next step is to build a state-of-the-art production facility that has the capability and licencing to produce beer, distilled spirits, cider, wine, CBD-infused beverages and nonalcoholic beverages. We plan to leverage our existing and new distribution networks to grow current brands, brands acquired and brands still being built.
We brew and we brand, and we're socially unconventional.
Further information on Bohemian Beverage Co. can be found here.
https://farmhousebrewingva.com
About Green Hygienics Holdings Inc.
Green Hygienic Holdings Inc. GRYN ("Green Hygienics" or the "Company") is a California-based innovative, technology-driven enterprise focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids. The Company's corporate mission is to adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers as well as to partner with CPG (consumer packaged goods) and pharmaceutical companies.
Hygienics is the science of preserving and promoting the health of individuals, communities and the planet.
For further information about Green Hygienics Holdings Inc., please visit the Company's website at:
Follow us on:
Facebook, Twitter and LinkedIn
View our corporate video: here.
Corporate Communications:
Heidi Thomasen
IR@GreenHygienics.com
Toll Free 1.855.802.0299
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential" or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
Public Relations:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
© 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.
