LAS VEGAS, NV, April 22, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – BoxScore Brands, Inc. (BOXS), announced the addition of consumer goods industry veteran Michael P. Flanagan. The company also announced a new strategic direction focused on opportunities with CBD and other alternative wellness products.
Michael Flanagan, newly appointed CEO of BoxScore Brands, stated, “Cannabis and other alternative wellness products today resemble the tech industry 25 years ago. The opportunities are broad and consumer adoption is expanding. We currently operate in California and Nevada, two states at the forefront of adoption and demonstrable growth. This makes perfect sense for the company to pivot product offerings given the positive regulatory environment and our existing assets.”
Founded in 2007, BoxScore Brands served 300+ points of sale in California and Nevada through automated frozen vending machines and reach in freezers. In March 2019, the Company sold part of its ice cream operation to a strategic buyer, allowing the Company to reposition its product offerings and focus on consumer products with Cannabidiol ("CBD") and other alternative wellness products. CBD is a non-psychoactive cannabinoid with proven health and wellness benefits. The Company is developing a CDB edibles offerings in both the frozen and non-frozen category as well as a variety of other product categories, which will leverage the Company's current vending assets. Flanagan stated, “We are paying close attention to Chairman Gottlieb’s recent statements and remain optimistic about the growth of the category and its relevance to our core strategy in the US.”
In 2018, BoxScore Brands launched an ice cream under a national sports license into five major US markets including Boston, New York, Houston, Dallas, and California. The company plans to ship nationally as the regulatory environment evolves and utilize online sales for non-THC wellness products.
According to New Frontier Data and MJ Freeway, the top-three reasons why consumers use cannabis are for relaxation (66%), stress relief (59%) and to reduce anxiety (53%). Other reasons include improving sleep, treatment of medical conditions and to enjoy social experiences.
Raymond Meyers, Chairman of the Board and Founder stated, “2019 will be an exciting year for our company both strategically and through the addition of new personnel who have deep experience in the Cannabis category as well as new products and branding on a national level.”
ABOUT BOXSCORE™ BRANDS, INC.
BoxScore™ Brands, Inc, headquartered in Las Vegas, NV, is a consumer products and technology company that develops, distributes, and retails specialty foods across North America. For more information visit www.boxscore.com or call (855) 558-8363 or e-mail email@example.com .
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