Elev8 Brands, Inc. Eliminates Over Eighty-Three Thousand in Debt
November 26 2018 - 11:40AM
InvestorsHub NewsWire
Elev8 Brands, Inc.
Eliminates Over Eighty-Three Thousand in
Debt
The Company is in
negotiations with two new
distributors
ORLANDO, FL -- November
26, 2018 -- InvestorsHub NewsWire -- Elev8 Brands, Inc. (OTCQB:
VATE), a holding company focused on the commercial development
of hemp and CBD-based products, is pleased to announce it has
eliminated eighty-three thousand four hundred and twenty dollars
($83,420.32) in debt, reducing the Company’s liabilities to
nineteen thousand five hundred and forty-five dollars
($19,545.87).
Elev8’s management team
negotiated with a debt holder to pay off its remaining liabilities
by issuing preferred stock with a one year vesting period. The
Company is working to remove its remaining liabilities of nineteen
thousand five hundred and forty-five dollars ($19,545.87) which
would remove all notes from the balance
sheet.
Elev8 Brands, Inc. CEO,
Ryan Medico, stated, “I am thrilled to announce the retirement of
this debt. Elev8 Hemp is already showing the strongest month in
revenue it has ever seen and now we are much closer to being cash
flow positive. By the end of the week we hope to have an additional
sales role filled here in Orlando.”
The Company, in addition
to adding its new product lines, is focusing efforts on new
revenues. Chris Risi has shown to be an amazing asset to the team
and has numerous sales opportunities in the pipeline. In addition
to several small grocers interested in Elev8 Hemp products, the
Company is currently in the negotiation stage with two new
distributors.
Medico concluded, “I am so
excited to see the way things are coming together. All the
individuals I have interviewed for this sales position have a
strong sales background as well as distribution background. We are
looking to hire an individual who will be able to take over all of
our current sales accounts and have the ability to expand our brick
and mortar business through retail outlets and distributors. This
person will also have experience bringing new product to market, as
we are in the final stages in developing our new ready to drink CBD
Coffee and Tea.”
About Elev8 Brands,
Inc.:
Elev8 Brands, Inc.
specializes in the development and marketing of products for the
fitness and wellness markets. The company is founded based on
creating high-quality, sustainable, products for health-conscious
consumers.
About Elev8 Hemp
LLC:
Elev8 Hemp LLC is a
wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the
development and marketing of hemp-based food, beverage, and health
care products including hemp coffee and hemp
tea.
About 02 Breathe
LLC:
02 Breathe is a
wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on
their oxygen bar while bringing in an array of CBD products. O2
Breathe carries CBD tinctures, CBD vape, CBD lotions and massage
products. 02 Breathe is currently looking to offer CBD at their
oxygen bar.
About Zoe CBD
LLC:
Zoe CBD is a wholly-owned
subsidiary of Elev8 Brands, Inc. which focuses on the development
and marketing of CBD-based products such as CBD Tinctures, CBD
E-Juice, CBD Lotion and CBD Salve.
Please visit, http://www.zoecbd.com for more
information
www.facebook.com/elev8hemp
www.instagram.com/elev8hemp
www.twitter.com/elev8hemp
www.02breathe.com
Safe Harbor
Statement:
The information posted in
this release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
You can identify these statements by use of the words "may,"
"will," "should," "plans," "expects," "anticipates," "continue,"
"estimate," "project," "intend," and similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or anticipated. These risks and uncertainties include,
but are not limited to, general economic and business conditions,
effects of continued geopolitical unrest and regional conflicts,
competition, changes in technology and methods of marketing, delays
in completing various engineering and manufacturing programs,
changes in customer order patterns, changes in product mix,
continued success in technological advances and delivering
technological innovations, shortages in components, production
delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's
control.