Plans to Change Public Company Name to CBD LION CORP.
MUNDELEIN, Ill., May 10, 2019 (GLOBE NEWSWIRE) -- CBD LION LLC is excited to announce today that it has signed a Letter of Intent to go public by merging with publicly traded Acquired Sales Corp. (OTC Pink: AQSP), Lake Forest, IL. The transaction is expected to inject several million dollars of growth capital into CBD LION, which will allow it to even further accelerate its incredible growth.
CBD LION was founded in 2017 with the slogan: “PRIDE IN QUALITY.” The CBD LION team’s focus has always been manufacturing effective, quality products in an ISO 7 Certified Clean Room. CBD LION’s current list of products include: CBD vape pens, cartridges, concentrates, tinctures, gummies, lotions and many more to come! All of CBD LION’s products are two-time third-party lab tested, something that most competitors do not do, which gives CBD LION a competitive advantage and products that consumers trust.
Erik S. Lundgren, Founder and CEO of CBD LION, said: "Let me be perfectly clear, MYSELF AND THE CBD LION TEAM ARE HERE TO STAY! We plan to make a significant impact on the Hemp/CBD industry as this move gives us the growth capital, network, and strategic partners needed to leverage our brand. Our business has been growing so fast that we have encountered capital constraints that have limited our ability to expand our product lines and to meet the increasing demands of distributors for our products. After exploring different ways of raising capital, both privately and through the public markets, we decided that the best way for us to achieve our growth potential while still producing an array of high-quality products was to partner with Gerry and Jake Jacobs and Acquired Sales Corp."
Following the closing of the transaction, Acquired Sales Corp. plans to change its name to CBD LION CORP. to emphasize our shared vision of becoming the leader in the CBD products industry. Acquired Sales Corp. has already acquired 4.99% of rapidly growing CBD-infused beverage and products maker Ablis Holding Company (www.AblisBev.com), and of craft distillers Bendistillery Inc. and Bend Spirits, Inc. (www.Bendistillery.com), Bend, Oregon.
CBD LION has been recognized in the industry for its award-winning products, including: Best Edible at CBD EXPO WEST and Best Vape at CBD EXPO MIDWEST. CBD LION’s products have been featured on CBS – Chicago News Post, Buzzfeed: Top 10 CBD Companies of 2018, Buzzfeed: Top 10 CBD Companies to watch out for in 2019, Edibles Magazine, and MSNBC: Top 5 CBD Companies of 2018.
As part of the transaction, the key executives of CBD LION including Erik S. Lundgren, Katie M. Nauert (Lundgren), Andrew Stepniak, Christopher Nauert and Christopher Weiland will sign long-term employment agreements to serve in executive positions at Acquired Sales Corp.
William C. “Jake” Jacobs, President of Acquired Sales Corp., said, “CBD LION’s leadership team is knowledgeable, passionate, and laser-focused on promoting CBD LION’s high-quality array of products, which are made in a certified clean room and are tested extensively for quality. These factors, coupled with CBD LION’s awesome name, cool logo, great product reviews, its eye-catching colorful product packaging, and its incredible growth over the past two years, make CBD LION a fantastic partner for us. We are ready to ROAR!"
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the contingencies to the closing of the contemplated transaction between the companies, and the growth strategies and future plans of the companies. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to the contemplated transaction between the companies not closing, or to the actual results of these companies' operations or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. Acquired Sales Corp. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of contingencies to the closing of the contemplated transaction between the companies, and as a result of certain other factors, including those set forth in Acquired Sales Corp.'s filings with the Securities and Exchange Commission.