Laguna Finalizes a 19% Equity Stake in Carlsbad Naturals, CBD Bottled Water and Makes a $796,000 USD Payment in Cash and Comm...
February 14 2017 - 8:00AM
Access Wire
ESCONDIDO, CA / ACCESSWIRE / February 14, 2017 / Laguna
Blends Inc. (CNSX: LAG) (OTC PINK: LAGBF) (FSE: LB6A) (the
"Company" or "Laguna") is pleased to announce that it has
secured a 19% equity stake in Carlsbad Naturals LLC, Nano-Amplified
CBD Water and has made a $796,000 USD payment to Carlsbad
Naturals.
As previously announced on January 25, 2017, Laguna and Carlsbad
entered into an equity acquisition agreement ("Equity Agreement")
for the purpose of pursuing mutually beneficial business
opportunities in the Cannabidiol (CBD) bottled water Industry and
CBD ingestible products Industry (the "Transaction"). Laguna has
completed the purchase of nineteen percent (19%) equity interest in
Carlsbad for a one-time payment of $250,000 USD paid for in cash
and $546,000 paid for in Laguna common shares for a total purchase
price of $796,000.00 USD. Laguna is currently in discussions about
acquiring additional equity interest, for majority control.
The common shares issued for the initial 19% are subject to lock
up and/or leak out provisions whereby the first 1/12 of the common
shares will be released 4 months and a day after issuance. 1/12
will be issued every subsequent month thereafter.
Ray Grimm, President & CEO of Laguna Blends, said, "Laguna
has worked diligently to close the equity transaction and is very
bullish on the future revenue potential of Carlsbad Naturals. As
previously announced Laguna currently sub leases office and
warehouse space to Carlsbad and our co-working relationship already
has resulted in mutually beneficial opportunities."
Troy Nihart, COO to Carlsbad Naturals, stated, "Carlsbad and
Laguna have a synergistic relationship, combining management and
personnel. We are excited to have Laguna as a strategic partner and
now as a shareholder in Carlsbad. I believe that this is the
beginning of a very long and prosperous relationship."
Carlsbad is a leader in the distribution and sales of CBD
bottled water in the USA through its unique and proprietary process
of infusing CBD's though nanotechnology. Carlsbad Naturals has
revenues of $521,000 from September 1, 2016 - December 31, 2016. In
addition to the current sales growth of Carlsbad, Laguna plans to
generate CBD water sales through its Club 8 online marketplace and
its B to B distribution channel in the USA and Canada.
About Carlsbad Naturals
Created by a team of doctors, Carlsbad Naturals brings cutting
edge science to deliver nutrients and hydration in an effective
way, naturally and responsibly. Applying quantum physics, our
nanotechnology successfully increases the surface area of each
substance we put in our water, so that less is much more. Carlsbad
Naturals is a market leader in the distribution and sales of CBD
Water using its unique and proprietary process of infusing CBD's
though nanotechnology. For more information about Carlsbad
Naturals, please go to www.cbdnaturals.com.
About Laguna Blends Inc.
Laguna Blends is a market leader in the distribution of Hemp and
CBD products. Laguna's growth strategy includes acquiring and
incubating companies who formulate and or manufacture Hemp
products. Laguna Blends markets Hemp products utilizing its B to B
Network along with driving traffic to its online marketplace. It's
Laguna's intent to provide the highest quality hemp product
experience for the end user, utilizing a proprietary nanotechnology
in many of its consumable and topical skin care products. Laguna is
currently seeking joint ventures and acquisitions to expand its
portfolio and will aggressively begin international expansion into
Asia and Europe in 2017.
ON BEHALF OF THE BOARD
"Ray Grimm Jr"
CEO, President & Director
CORPORATE COMMUNICATIONS:
Howe & Bay
Financial: 604-449-5302
COROPRATE MEDIA:
ir@lagunablends.com
www.lagunablends.com
https://cbdskincream.com/
Join Us On Face Book: https://www.facebook.com/LagunaBlends/
Twitter: @LagunaBlends
Forward-Looking Information: This news release
contains "forward-looking information" within the meaning of
applicable securities laws relating to statements regarding the
Company's business, products and future the Company's business, its
product offerings and plans for sales and marketing. Although the
Company believes that the expectations reflected in the forward
looking information are reasonable, there can be no assurance that
such expectations will prove to be correct. Readers are cautioned
to not place undue reliance on forward-looking information. Such
forward looking statements are subject to risks and uncertainties
that may cause actual results, performance and developments to
differ materially from those contemplated by these statements
depending on, among other things, the risks that the Company's
products and plan will vary from those stated in this news release
and the Company may not be able to carry out its business plans as
expected. Except as required by law, the Company expressly
disclaims any obligation, and does not intend, to update any
forward looking statements or forward-looking information in this
news release. Although the Company believes that the expectations
reflected in the forward looking information are reasonable, there
can be no assurance that such expectations will prove to be correct
and makes no reference to profitability based on sales reported.
The statements in this news release are made as of the date of this
release.
SOURCE: Laguna Blends Inc.
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