Eco-Growth Strategies Announces Letter of Intent to Acquire Specialty CBD Company – Press Release
Adds to its Growing list of Assets
SACRAMENTO, CA / ACCESSWIRE / January 28, 2020 / Eco-Growth Strategies, f/k/a Falcon Technologies, Inc. (the “Company” or “Eco-Growth Strategies”) (OTC PINK:ECGS), a nutraceutical company developing a variety of premium CBD-based products specializing in sourcing and extraction of trusted North American hemp, today announced that the company has formally entered into a Letter of Intent (LOI) to acquire an ultra-premium hemp-based CBD company that focuses on athletes, fitness minded individuals as well as the general population. The handcrafted catalog of products contains no THC and are produced with the highest quality CBD. The ultra-premium hemp-based CBD company has projected 150% YoY growth, 70% repeat customer rate and has generated $354,000 of revenue in the last fourteen months. The acquisition will be folded into the already existing assets of Eco-Growth Strategies.
“While terms are still being finalized, we cannot offer many specifics, but we are excited to formally acquire a company that has firmly established a niche within the CBD space. Adding a quality, revenue generating asset to our organization is in-line with our business model that involves a bolt on strategy for existing companies that we feel benefit Eco-Growth’s business channel within the CBD industry, says William Delgado, Chairman and CEO of Eco-Growth Strategies. While we intend to grow a portion of our company organically, we will seize opportunities like this when they make sense,” added Delgado.
“We feel the synergies between the two companies will create an even larger presence for Eco-Growth and its subsidiaries, but more importantly, increase both the awareness in quality of our CBD products and create a competitive advantage within the massive non-THC cannabinoids with major focus on the CBD segment. It takes our company one step closer towards streamlining vertical integration.” says Alan Lien,, President of XTRACTIONONE PLUS.
The company intends to provide specific information upon the company formally closing the sale in the future.
About Eco-Growth Strategies, Inc. A/K/A Falcon Technologies, Inc.
Eco-Growth Strategies, Inc. is a nutraceutical and processing company developing a range of CBD-based products. The company’s mission is to employ best practice science to source, manufacture, and package the process all of its CBD products from within the United States. The company performs farm and manufacturing site visits and sources its products from only the highest quality hemp farms in North America.
The statements made regarding CBD products including our future products have not been evaluated by the Food and Drug Administration. The efficacy of these products and the testimonials made has not been confirmed by FDA- approved research. These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from healthcare practitioners. Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.
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 strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other 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 our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Eco-Growth Strategies
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