IRVINE, CA--(NewMediaWire - Feb 7, 2017) -
iBrands Corporation Inc. (OTC
PINK: IBRC) is pleased to announce that it has signed an
"Exclusive Supply Contract" with Free Spirit Organics LLC., an
Indian Tribal Company made up of the Winnemucca, Northern Shoshoni
and Washoe Indian Tribes. They market their products under the name
CBDoil. The term of the contract is for 1 year and is
renewable.
Chief Bill Bills stated, "This is a very exciting time for our
Tribes right now. The demand for our products is growing at 400%
per month and we have been having a hard time securing the raw oil
and having to go to several places to fill orders. Now with the new
regulations classifying cannabinoids as a class 1, we think our
sales will grow even faster because of our ability to fill orders
other companies can't. The laws are still up in the air, but
because of our sovereign status we can send products across state
lines from tribe-to-tribe much easier than most. Many of the Indian
Casinos are carrying our products in their commissaries. We also
have 3,000 Tribal stores that are starting to carry CBDoil as
well."
The first order is for 1,000 kilograms (2,200 pounds) and will
be delivered by the end of February. Ongoing demand is expected to
be between 200-250 kilograms per month. In the past, the Tribe has
been paying $25,000 on up to $48,000 per kilogram. "Our connections
within the industry have helped us secure volume pricing. In
comparison, the first contract was filled at $13,000 per kilo,"
said Michael Ogburn, CEO of iBrands.
Ogburn also went on, "We are really focusing on growing our
Purest CBD right now. The cannabinoid market is the future in our
opinion and we are putting a lot of effort into it. The agreement
is exclusive and was signed February 6, 2017.
About iBrands Corporation, Inc.:
iBrands Corporation Inc. ("IBRC")
is a publicly traded holding company that acquires and operates
niche market brands having unique market positioning with
substantial upside. Our strategy is executed through the
acquisition of proprietary brands having unique market niches with
substantial upside growth and providing strong management. For
further information, please contact the Company at: www.iBrandscorporation.com
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