VANCOUVER, British Columbia, Sept. 30, 2019 (GLOBE NEWSWIRE) -- NewLeaf Brands Inc. (CSE:NLB) (NLBIF) (0NF.F) (“NewLeaf Brands” or the “Company”) a health and wellness CBD company, today announced that it has entered into a Retail Implementation Agreement dated August 30, 2019 (the “Agreement”) with New Implementation Program, LLC (“NIP”). Pursuant to the terms of the Agreement, NIP will provide to the Company distribution services and sale of the Company’s CBD branded products to NIP’s vast community of operators, partners, retailers and distributors in the United States of America. NIP will present and contract its retail locations for the purpose of selling up to three SKUs of the Company’s product offerings at each NIP location. The Company and NIP are currently selecting the best regions to roll out the initial one thousand locations launching through the 2019 holiday season and expanding up to ten thousand locations over the next coming months.
NIP is an entity of the Association Partners Organization (“AP”) and Asian American Trade Association Council (“AATC”). The AP and AATC are national trade associations representing a network of retailers, buying groups, regional sub-chapters, primary and affiliate groups, distributors and other trade organizations, with aggregate reach of up to 90,000+ retail locations across the United States of America.
Joshua Bartch, CEO of NewLeaf, commented, “We couldn’t be more ecstatic about striking this deal with the C-Store powerhouse of AP who reaches groups like the AATAC. This Agreement propels NewLeaf to join the ranks as a premier level cannabis and hemp company and significantly expands NewLeaf’s existing footprint in the marketplace. Looking at the select roster of companies that AP has agreed to work with, we are truly grateful and honored to be one of them. We have spent the past twelve months perfecting and market testing our current product offerings to make sure we were ready for rapid growth. Over the past months, the company has seen rapid sales growth and this furthers our expansion. We are working hard in preparation and scale to ensure that we hit the ground running for this holiday season roll out.”
“It is evident that CBD related products are here to stay and will quickly eclipse energy and vapes as the most successful new category in retail history,” said Paul Rock, AP’s Chairman and AATAC Board of Directors Trustee. “Our approved programs will fill voids in product format and consumer demand that currently exist and will provide NewLeaf the opportunity to take full advantage of the retail scope offered by our retailer groups who are the front lines of the impending CBD product explosion.”
In consideration for NIP’s services, the Company has agreed to pay NIP’s program costs of $USD528,000, in two phases: (i) $USD284,000 due upon signing of the Agreement and for the first 500 NIP locations; and (ii) $USD244,000 due upon the 500 NIP location activation and completion of the Company’s review period.
About Association Partners
Association Partners is composed of representatives and affiliates from various trade organizations and groups across the United States of America. AP has strategic relationships and partnerships with retail location chains and holds leadership roles within the largest trade associations for independent convenience and gas stations in the United States of America.
About Asian American Trade Associations Council
The Asian American Trade Associations Council is composed of delegates from various business retailer groups across the United States of America with each group having as few as 100 or as many as 10,000 or more retail locations. The aggregate reach of AATAC is 90,000+ retail locations in the corner store, general retail outlet, convenience store, and gas station (C-Store) industry. AATAC’s primary and affiliate members operate many franchises of the most popular branded C-Store retailers such as 7-11, Circle K, Sunoco, Chevron, 76, BP, Arco, ampm, Kangaroo, Shell, Marathon, and many others.
About NewLeaf Brands
NewLeaf Brands, Inc. is an innovative Cannabidiol (“CBD”) lifestyle Company. Through the Company’s wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company’s main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.
For further information about NewLeaf Brands, please consult the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.NABrandsInc.com. For further information about We Are Kured, please visit their website at www.wearekured.com.
|On Behalf of the Board of Directors||For Further Information Contact|
|Joshua Bartch||Corporate Communications|
|Chief Executive Officeremail@example.com|
|We Are Kured Contact:|
|Founder & CEO|
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This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to completion of planned improvements at both the Canadian and US sites on schedule and on budget, the availability of financing needed to complete the Company’s planned improvements on commercially reasonable terms, planned occupancy by the tenant-growers, commencement of operations, differences in yield on expected harvests, delays in obtaining statutory approval for marijuana production plans, issues that may arise throughout the grow period, outdoor crops affected by weather, the ability to mitigate the risk of loss through appropriate insurance policies, and the risks presented by federal statutes that may contradict local and state legislation respecting legalized marijuana. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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