Sacramento, California, May 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BOON Industries (OTC PINK:LOFB) (“BOON” or the “Company”), announces today its new CBD Hemp Extract Formulation H+ for a major beverage company.
Boon is expected to deliver an initial 500,000 units of H+ to a major beverage company with an expected 2M units per month thereafter in value of approximately $12M over the next 14 month period. The company is currently in production.
Each 2 ounce unit of H+ is a revolutionary new formulation that creates a truly water-soluble CBD/Hemp extract. With the increased global demand for Hemp based products, BOON has created H+, the first water soluble CBD solution that is safe, effective and can finally be incorporated into beverages on a mass scale to meet consumer demand. H+ was selected because of its ability to deliver tangible results and an experience that will keep customers coming back.
BOON Industries specializes in the development, manufacturing, and distribution of a number of water-soluble products for commercial and consumer applications. The Company currently manufactures customized “white label” products for the food and beverage, health and wellness and chemical industries.
Justin Gonzalez, CEO, stated, “We have technologically advanced formulated products on the near horizon that will generate multiple revenue streams for the company. Boon has developed a conglomerate of revenue producing products that are based on proprietary formulas for consumer and commercial application. We anticipate Boon revenues to hit well over $50M over the next several years based upon our relationships with industry leaders. This will be a prosperous year for our shareholders.”
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.