Sun Kissed Acquires Hakuna Supply, an Award-Winning Commercial Stage CBD Products Company
November 25 2019 - 7:20AM
InvestorsHub NewsWire
Sun Kissed Acquires Hakuna
Supply, an Award-Winning Commercial Stage CBD Products Company
NEW YORK, NY
-- November 25, 2019 -- InvestorsHub NewsWire
-- Sun
Kissed Industries Inc. (OTC:
SKDI)
("Sun
Kissed",
"SKDI", or the "Company"),
an emerging player
in the CBD marketplace, is extremely excited to announce
the signing of a Definitive Agreement (the "Agreement")
to acquire
Hakuna
Supply/Products Group, Inc. ("Hakuna" or "Hakuna
Supply"), a
premier revenue-generating
CBD-based products
company located in California with over 110 established retail
distribution partners across over 20 states in the domestic US
market.
"We couldn't be more excited to
get this deal done," stated Carl Grant, Sun Kissed CEO.
"After the
LOI was signed, we faced a lot of doubters – a lot of folks who
didn't understand the nature of our commitment and vision, and the
path this Company is on. This deal is now done. Hakuna is part
of the Sun Kissed family. It is one of the most explosively
successful names in the CBD space – an award-winning brand name
with a huge market footprint. And we plan to expand that brand and
position this Company as a truly dominant player in the
space."
The Agreement represents the acceptance of terms by both
parties through which 100% of the issued and
outstanding shares of Hakuna will be purchased by Sun Kissed
in a deal
that is
scheduled to close on, or before, December
12th 2019.
The Company is very excited to
move forward with Hakuna's powerful and well-established package of
leading consumer products spanning the premium CBD coffee, CBD tea,
CBD Drink Drops,
CBD Gummies, and CBD Flower product markets. Hakuna is currently
nominated for "Best
Hemp-Derived CBD Product" by the California Cannabis Awards after winning
the DOPE Magazine
Best New Product award for Southern California in the
non-cannabis/non-tech category in 2017.
"This puts us in the
drivers
seat as a major
force in the CBD market," continued Mr. Grant. "Hakuna has
established a massive distribution network and a first-class
branding position. From here, it really comes down to
implementation on the marketing side. The sector tailwind will be
there – the growth is only expected to accelerate. We already have
a differentiated market identity through this acquisition. Now we
just need to push, push, push."
About
Sun Kissed Industries,
Inc.
Sun Kissed Industries Inc.
(OTC:
SKDI)
is an emerging leader in the CBD-based products marketplace. The
Company is pursuing meaningful acquisitions as part of an
aggressive M&A strategy designed to position Sun Kissed as a
dominant player in a well-defined, high-growth niche within the
rapidly expanding CBD sector.
FORWARD-LOOKING STATEMENTS:
This press release may contain
forward-looking statements, including information about
management's view of Sun Kissed Industries Inc.'s future
expectations, plans and prospects. In particular, when used in the
preceding discussion, the words "believes," "expects," "intends,"
"plans," "anticipates," or "may," and similar conditional
expressions are intended to identify forward-looking statements.
Any statements made in this news release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of Sun Kissed, its subsidiaries and concepts to be
materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on Sun Kissed's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. Sun Kissed cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, Sun Kissed undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by Sun Kissed.
SOURCE: Sun Kissed
Industries Inc.
Contact:
Target marketing
agency
112 E 25th street
New York New York
10010
917-983-2268