HeavenlyRx, Ltd. Acquires Majority Ownership of Industry-Leading CBD Brand PureKana – Tullahoma News and Guardian

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Dec 31, 2019–

HeavenlyRx Ltd. (” HeavenlyRx “), a CBD Wellness company, acquired a majority share of one of the largest top ranked CBD companies, PureKana, LLC. (” PureKana ” or the ” Company” ) on December 27th. Under the agreement, HeavenlyRx acquired a majority ownership stake from the Company's founding members.

“This is a hugely meaningful day for both HeavenlyRx and PureKana,” said HeavenlyRx CEO Paul Norman. “With PureKana, we have a flagship brand to accelerate the growth of our company.”

PureKana is a rapidly growing CBD brand with a large consumer base that leans toward a young and active demographic. Their robust line of CBD products are fully derived from organically grown hemp and can be used in foods and nutritional additives. Once harvested, their hemp is carefully processed and undergoes extraction and quality testing, creating a rich CBD oil which is infused in their product lineup that spans oils, capsules, topicals, gummies and pet products.

“Partnering with a company like HeavenlyRx has been one of our main priorities since we founded PureKana,” said PureKana CEO Cody Alt. “Our brand and product, combined with HeavenlyRx’s distribution into major markets, makes this a match in CBD heaven. Together, we’re going to deliver the highest quality products to consumers that will drive the CBD and wellness industries forward.”

PureKana’s founders Cody Alt and Jeff Yault have led the Company’s profitable revenue growth year after year across online and e-commerce channels. In 2020, PureKana is expected to have another strong year of growth as the brand benefits from HeavenlyRx’s strategic selling capabilities in mainstream brick and mortar retail environments.

“Under Cody and Jeff’s stewardship, PureKana has become one of the most successful brands in the industry,” continued Paul Norman. “As one team, we are confident our combined resources will explode broad based sales and profit growth.”

About HeavenlyRx Ltd.

HeavenlyRx holds controlling ownership interests in various industry-leading assets in the hemp/CBD and THC-free cannabinoid wellness space, with a focus on hemp cultivation, processing and the manufacturing of a diverse range of traditional CBD products including oils, tinctures, balms, and vape-ready products. HeavenlyRx's portfolio will include several proprietary brands across numerous consumer product group verticals, including cosmetics and beauty products, bath and body products, and infused foods with a focus on the CPG market.

About PureKana:

Recognized by a young and active demographic as a leading cannabidiol brand, PureKana offers an ultra-concentrated CBD experience. Their robust product lineup includes food-grade CBD that can be consumed in the form of pill capsules, powder, topical salves, oral sprays, and even edibles like peanut butter.

Cautionary Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company's ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

CONTACT: Davis Richardson

301-569-3983

KEYWORD: UNITED STATES NORTH AMERICA CANADA FLORIDA

INDUSTRY KEYWORD: MANAGED CARE MEN CONSUMER AGRICULTURE NATURAL RESOURCES FOOD/BEVERAGE FITNESS & NUTRITION COSMETICS RETAIL WOMEN ALTERNATIVE MEDICINE HEALTH PETS

SOURCE: HeavenlyRx Ltd.

Copyright Business Wire 2019.

PUB: 12/31/2019 09:00 AM/DISC: 12/31/2019 09:00 AM

Source: https://www.tullahomanews.com/news/business/heavenlyrx-ltd-acquires-majority-ownership-of-industry-leading-cbd-brand/article_57891544-e4cf-56c4-b351-fcb0623673b3.html


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