Sun Kissed
Industries Cleans Balance Sheet with
$242,595 of Debt
Forgiveness
NEW YORK, NY --
April 7, 2020 -- InvestorsHub NewsWire -- Sun Kissed Industries Inc.
(OTC
PINK: SKDI)
("Sun Kissed", "SKDI", or the "Company"), an emerging player in the
CBD marketplace, is pleased to announce
that, in
preparation for future acquisitions, has
agreed with long term note holder 'Green Light Developments LLC'
to have
all of the outstanding debt, with interest, removed from
the liabilities and forgiven, with no consideration due.
Sun Kissed CEO,
Mr. Carl Grant, stated today that "We have worked with Green
Light to help us meet our liabilities over the past two years and
they have been a fantastic partner. In the current economic
climate, we need to be as lean as possible and we have used this to
agree to a complete forgiveness of debt. We are extremely satisfied
with our tough negotiating stance which sees Green Light with no
equity or debt position whatsoever in Sun Kissed and we part ways
at this point completely.
We have
exciting acqusitions and partnerships in the works
and this just further enhances the
attractive
propositions on the market right now with our liabilities being reduced by
such a significant amount."
Also,
the
company previously effected a massive 80% reduction in
its Authorized
Share Capital in preparation for its pervious acquisition, in
January, of Products Group.
Sun Kissed
Industries recently announced that it had closed on the acquisition
of Products Supply Group, doing
business as Hakuna
Supply.
Hakuna received the DOPE Magazine
Best New Product award for Southern California in the
non-cannabis/non-tech category in 2017. Hakuna has established
high-end CBD-based products, including CBD Hemp Roast Coffees, CBD
Coffee Bundles, CBD Tea Bundles, CBD Drink Drops, CBD Gummies, CBD
Flower, a range of premium CBD Teas, and other premium products. We
are beyond thrilled to be entering the closing stage of this
significant acquisition over the very near term horizon and expect
our overall valuation to increase dramatically over the next
several months.
About Sun
Kissed Industries, Inc.:
Sun Kissed
Industries Inc. (OTC
PINK: 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