Companies to form International Business SPV
CAVE CREEK, AZ, Jan. 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBD Unlimited, Inc. (OTC PINK: EDXC), a provider of innovative phytonutrient-based food and nutritional products, is pleased to announce a new joint venture with GFe Inc., an Ontario, Canada finance and technology company.
The companies are establishing a “Special Purpose Vehicle” designed to combine the technology and CBD initiatives of both companies to further accelerate their expansion into international markets. The companies will jointly develop distribution channels and seek to offer an Initial Public Offering on a major International Stock Exchange to unlock shareholder value for each of its respective shareholder bases.
GFe will directly invest into the CBD Unlimited, Inc. Jamaica based international business initiative, initially providing 2.5 million dollars for property acquisition and manufacture facility construction. There are provisions to expand investment up to ten million dollars as required. GFe additionally will provide access to its technology suite including: multi-faceted biometric identification verification software, fiat and cryptocurrency exchange processing and delivery systems, as well as, 3D CAD/CAM printing of low cost commercial health-grade buildings for turnkey cultivation operations worldwide.
CBD Unlimited’s GorillaTek will utilize and integrate GFe’s tech suite to optimally expand initially into Canadian and European markets.
CEO Todd Davis commented, "Through this unique collaboration agreement CBDU and GFe can efficiently combine efforts and technology applications as we expand into international markets. The SPV will unlock value and maximize potential for our current investors and provide access to global investors to participate in our growth initiative.”
GFe’s CEO Gilles Kelly added, ”Between CBDU and GFe we will evolve and advance the way the CBD industry is currently managed, by using a new form of specialized technology and industry leaders to develop and grow the global CBD ecosystem.”
About Global Financial Ecosystems: GFe specializes in artificial intelligence, bringing blockchain technology to traditional revenue streams and improving the quality of life for everybody by developing new building practices, building products and training a new skilled labor force to strengthen local economies that need sustainable growth.
GFe innovates current technologies to benefit the financial industry by adding on multiple layers of security and streamlining efficiency to verify the end user. We are constantly working in multiple markets to create a global ecosystem that is self-sustainable.
About CBD Unlimited, Inc.
CBDU, with its collaborative partners and consultants, develops and distributes two consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids. Phyto-Bites®, is its CBD-infused soft chews for dogs. The dog treats are formulated to promote health and support the reduction of separation anxiety, pain and inflammation. The company also has technology products and services: Gorilla Tek “smart security solutions” and the Autospense™. Both products provide essential solutions to promote regulatory compliance and full accountability inventory management and an "End of Sale" technology integration. The Autospense™ is a commercial grade inventory control and dispensing device that provides up-to-the-minute accounting details and ensures both product and patient security. By automating the dispensing process, GorillaTEK increases productivity and reduces shrink for retailers, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com
Safe Harbor Notice
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
For further investor and media information, contact:
CBD Unlimited, Inc.
Chairman & CEO
Global Financial Ecosystems, Inc.
President & CEO