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SAN FRANCISCO, March 02, 2021 (GLOBE NEWSWIRE) -- APPlife Digital Solutions, Inc. (OTCQB: ALDS) (“APPlife”, the Company”), a business incubator and portfolio manager that invests in and creates e-commerce and cloud-based solutions announced today that it has executed its previously announced letter of intent and signed a definitive agreement (“Agreement”) with Global Hemp Service LLC (“Global”). The Agreement provides Global with a perpetual, royalty-free, non-exclusive license to use APPlife’s market-ready and mobile website e-commerce platform to market, distribute, and sell its hemp, cannabidiol (“CBD”) and other related B2B and B2C products.
As part of the Agreement, Global will pay APPlife a fee of 2.5% of its gross revenues, distributed on a quarterly basis. Additionally, APPlife will receive a total of 15% of the outstanding and fully diluted shares of Global.
Global’s line of hemp and CBD products is expanding and will initially include fabrics, paper goods, hemp plastics, hemp building materials, hemp personal products (e.g., toilet paper, sanitary napkins, and tampons), hemp seed chicken feed, as well as high quality CBD oils and organic products for use in manufacturing.
“We see this as a great opportunity to join a rapidly expanding market, as well as to participate in a space where the main objective is sustainability. Hemp and its derivatives are great for our environment, they use a fraction of the water to grow, purify the soil that it grows in, and can be replenished at an exponential rate compared to trees. Hemp plastics use no petroleum, and hemp building materials are fire retardant. The hemp seed is particularly rich in healthy fats, including omega-3 and omega-6 fatty acids and both fats are known for improving heart health by reducing cholesterol and blood pressure. The benefits and uses continue to be discovered, and APPlife is committed to positioning itself to participate in this growth,” stated Matt Reid CEO of APPlife.
A recent report by market research company Grand View Research (“GVR”) predicts that the global industrial hemp market, currently estimated at USD$4.71 billion, will continue to grow throughout the next decade. GVR forecasts that the global hemp industry will register a compound average growth rate (“CAGR”) of 15.8% between 2020 and 2027 and will be driven by increased demand for hemp oil and fibers in the automotive, construction, food and beverage, personal care, and textile industries; especially in emerging regions such as the Asia Pacific.
Concerning the global CBD market, which is currently valued at USD$2.8 billion, GVR expects a CAGR of 21.2% from 2021 to 2028, with revenues increasing from $9.3 billion in 2020 to $23.6 billion in 2028. Their analysis found that “due to its healing properties, the demand for CBD for health and wellness purposes is high, which is the major factor driving the market growth. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost production for CBD-infused products.”
ABOUT APPLIFE DIGITAL SOLUTIONS, INC.
APPlife Digital Solutions Inc., with offices in San Francisco CA. and Shanghai China, is a business incubator and portfolio manager that uses digital technology to create and invests in e-commerce and cloud-based solutions. The Company invests in and creates solutions for work, home life, recreation and research that makes users more productive and more efficient, whether at work, home or traveling the world. APPlife's cloud-based businesses are designed to provide easy-to-use life solutions, often to address everyday issues and needs. They include a wide array of topics and needed services to cover the full marketplace across the spectrum. For more information visit www.applifedigital.com.
Current APPlife Digital Solutions, Inc. e-commerce solutions:
Rooster Essentials – The “Go To” eCommerce grooming shop for men. Bringing daily essentials to your doorstep.
B2BCHX - Background check a Chinese company. Easy due diligence. Prevent fraud or scams.
OfficeHop - A global sharing model platform for short term rentals of office and meeting rooms. (beta testing to begin end of 1st quarter 2021)
APPlife Digital Solutions
Tel: (585) 232-5440
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, acquisitions, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to APPlife Digital Solutions, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.