PotNetwork Holding Executes Diversification Strategy to Expand
Position into the Cannabis Sector with the Acquisition of
PotNetwork.com
Following an Investor Takeover of High Times Valued at $70
Million, Company Takes a Position in the Counter-Culture Cannabis
News and Entertainment Sector with Reacquisition of
PotNetwork.com
Ft Lauderdale, FL - July 13, 2017 - InvestorsHub NewsWire -
PotNetwork Holding, Inc. (OTC Pink: POTN), (Company) is
very pleased to announce the reacquisition of PotNetwork.com, an
online resource originally designed to become a leading industry
specific news and content provider for the cannabis marketplace. After prior management changes,
and a shift in corporate focus, PotNetwork.com was previously sold
in March 2016.
According to Forbes Magazine, a controlling
interest of High Times Magazine, an industry pioneer in the
counter-culture arena, was acquired at a price that values the
magazine at $70 million. PotNetwork.com is being completely
renovated in preparation of creating a presence in this cannabis
digital news and entertainment sector. According to the report in
the NY Times, Tommy Chong stated, Its a sign of the times.
The comedian, who has appeared on High Times cover a record eight
times, continued Weeds legal and theres a million High Times out
there. While cannabis is medicinally legal in more than half of the
states in America and recreationally legal in eight states, High
Times launched when marijuana was viewed akin to heroin.
PotNetwork.com was re-acquired to be fully developed
into a counter-culture, cutting-edge digital magazine, publishing
up-to-date news and articles on the cannabis industry. Upon
conclusion of the transaction, PotNetwork.com will operate as a
wholly owned subsidiary of the Company. Management has initiated
plans to revamp the graphic design, diversify and enrich
PotNetwork.coms editorial content to include a full range of
industry and related consumer topics. It is anticipated that such
enhancements, when fortified by a targeted marketing campaign, will
serve to increase web traffic and page views, ultimately monetizing
the site as a comprehensive industry informational resource.
Simultaneously, Management believes such actions will enhance and
further cement the PotNetwork brand with its target audience across
the industry.
Through the future implementation of streaming video
broadcasting technologies, PotNetwork.com is expected to be the
first of the Companys ventures set to create an influential
presence in the evolving cannabis marketplace. Managements newly
enhanced growth strategy has been structured to not only strengthen
brand recognition and top-of-mind awareness, but broaden PotNetwork
Holdings interest in the industry.
As the industry continues to expand, so does our corporate
vision, and market share. In consideration of the fact that
visibility and sales for Diamond CBD have experienced such
outstanding results, this acquisition comes as a very exciting
development. The level by which these two subsidiaries complement
each other represents an excellent opportunity for expansion. We
have strategized to strengthen shareholder value by streamlining
operations and pursuing a singular focus, stated Gary Blum, Chief
Executive Officer, PotNetwork Holding.
Consistent with the Companys streamlined focus on commerce
within the cannabis industry, PotNetwork Holding is winding down
the operations of its subsidiary, Sunrise Auto Mall, Inc., and
discontinuing its operations. As a result of the exponential growth
of the Companys active subsidiary, Diamond CBD, Inc., Management
has determined that resources that would have otherwise been
allocated to Sunrise Auto Mall, Inc., would be much more wisely
invested if redirected to fuel the strong continued growth and
expansion of the Diamond CBD product line as well as the
mobilization of new strategic initiatives within the cannabis
Industry.
As markets continue to open and creating evolving new industry
demands, Management is keenly focused on developing congruent
market niches that align with PotNetwork Holdings business model.
The Company will keep shareholders updated as events develop.
About PotNetwork Holding Inc.: PotNetwork Holding Inc. (OTC Pink: POTN) is a publicly
traded holding company focused on investments in the development,
production and marketing of products and services that serve the MJ
industry and its various market segments. Its subsidiary, First
Capital Venture Co., owns Diamond CBD, Inc., a leading maker of an
extensive line of cutting-edge products containing hemp-extracted
CBD oil.
About Diamond CBD Inc.: Diamond
CBD focuses on the research, development, and multi-national
marketing of premium products based on hemp extracts that contain a
broad range of cannabinoids and natural hemp derivatives. Diamond CBDs team consists of hemp
industry pioneers and natural product experts, chemists, and
scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a broad, robust
selection of consumer products considered among the most powerful
natural CBD oils, E-Liquids and related products found
anywhere. For more information, please visit its website
at www.DiamondCBD.com.
Safe Harbor Act: Forward-Looking Statements are included within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding our expected future financial position,
results of operations, cash flows, financing plans, business
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opportunities, plans and objectives of management for future
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"will," and similar expressions are forward-looking statements and
involve risks, uncertainties and contingencies, many of which are
beyond our control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: PotNetwork Holding Inc.
Investor Relations:
Marisol Elwell, 1-800-915-3060
investor@PotNetworkHolding.com