Re-Positioning of Highly Successful Verve Energy, Which Had $230 Million (Over 7 Years) in Direct Sales Previously, Along with Champ Energy, Will Accelerate Launch of CBD Infused Beverages in the US
VANCOUVER, BC / ACCESSWIRE / November 13th, 2018 / Weekend Unlimited Inc. ("Weekend" or the "Company") (CSE: YOLO – FSE: 0OS1) is providing additional detail on its arms length letter of Intent to acquire Verve Beverage Company.
"Through this acquisition, Weekend Unlimited will add the strength of a very popular brand in Verve Energy, that was undervalued due to its direct sales history, but has a tremendous following due to its quality and effectiveness," said Cody Corrubia, Weekend Unlimited President and CEO. "We have the opportunity to re-position the Verve brand and build it out in North American with an existing base of support. Verve Beverage Company has a high-profile position as an official partner of the NHL's San Jose Sharks," added Mr. Corrubia.
Verve Energy highlights:
- Verve has a unique positioning in the beverage market
- Recognized brand with opportunity to position new brands into the market
- Physician formulated & clinically studied.
- Highest growth category in the beverage industry
- Success with $230+ million (over 7 years) in direct to consumer historical Verve sales, positioned for retail distribution roll-out
"Securing the Champ Energy brand provides us an accelerated model to launch into CBD infused beverages, and grow strong distribution relationships as a result of having both the Verve and Champ product lines," noted Mr. Corrubia.
Champ Energy Highlights:
HEALTHY BEVERAGES NANO INFUSED WITH CBD AND MTC OIL
- CHAMP CBD Flavored Water is created with a water-soluble hemp oil, along with other minor phytocannabinoids such as CBG, CBN, CBC, and naturally present terpenes
- Each 12 oz bottle of CHAMP Contains 27 mg of phytocannabinoids per dose and is designed to have optimum bioavailability
- 27 mg Phytocannabinoid-Rich hemp oil
- Ultra-pure nano water and 100% organic CBD oil
- CHAMP allows you to feel the beneficial effects of CBD while getting all the health benefits of a nanowater that's been infused with over 78 electrolytes, minerals, and glyconutrients
- Powered by a 7.3 PH Active water source, and have MCT oil infused for additional health benefits, with no added sugar
- CHAMP also offers the same great flavors and taste without the CBD
- CHAMP is the Official Energy Drink Of The NHL's San Joe Sharks
Subject to the completion of due diligence, the Company has agreed to issue 50 million of its common shares in exchange for 100% of the company holding these two brands. The brands are held subject to a 20 year license agreement which provides for a 3% royalty on sales. The Company has entered into a secured US $ 2 million loan facility pending closing, of which $750,000 USD has been advanced.
For further information, please contact:
Telephone: 1 (236) 317-2812
E-mail: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Weekend Unlimited Inc.