Appalachian Mountain Brewery, Inc.
Under the Symbol:
Appalachian Mountain Brewery Announces Corporate Name Change and Entry into Hemp and CBD Markets
Thursday, December 13, 2018 11:45 AM
NORTH MIAMI, FL / ACCESSWIRE / December 13, 2018 / Appalachian Mountain Brewery (OTC PINK: HOPS) (''AMB'') today announced a corporate name change to Between Dandelions, Inc. (hereafter ''BD'' or ''Company'') following the recent sale of all beer assets to Craft Brew Alliance. Following months of evaluation, research, development and guidance from the Strategic Advisory Board, management is excited to announce it has received final approval by the North Carolina Industrial Hemp Commission to cultivate and process Hemp and hemp-derived CBD products in North Carolina. The company will be heading in a new direction to pursue the Hemp and hemp-derived CBD markets effective immediately with the passage of the 2018 Farm Bill now fully legalizing Hemp and hemp-derived CBD so it is no longer a gray area marketplace.
Sean Spiegelman, BD CEO, stated, ''Four years ago we began the navigation of leveraging a key strategic partnership in a booming market to expedite our corporate growth. We see the same opportunity today in the Hemp and hemp-derived CBD markets, and we expect to announce a similar strategic partnership with a leading vertically integrated Hemp and hemp-derived CBD operation soon. It is an exciting time for the Company as we leverage our prior success into a new direction which we believe provides greater potential for long-term shareholder value.''
The final 2018 Farm Bill has passed both the Senate and House and is expected to be signed by President Trump shortly. The final bill legalized hemp cultivation and will be a catalyst for explosive growth in a nascent industry that some forecast could top $20 billion by 2022.
The lion's share of the roughly $800 million U.S. hemp market today is for products that include the non-psychoactive compound CBD, cannabidiol. Products infused with CBD are used for a wide range of medical conditions, ranging from epilepsy and multiple sclerosis to arthritis and chronic pain. Laws involving CBD products differ in each state.
But of interest to public cannabis companies is the bill's implications for the U.S. market for cannabidiol, a "non-psychoactive" chemical found in hemp and marijuana. The legislation has been cited by numerous public cannabis companies as the catalyst to formally enter the American CBD market, according to Cowen analyst Vivien Azer.
"This new [bill] version creates far more certainty around the legality of the commercial sale of hemp-derived products (with less than 0.3 percent THC, namely CBD), and codifies the legality of interstate commerce," Azer wrote Tuesday.
The long-awaited bill has removed industrial hemp from the federal government's list of controlled substances, making it a lawful agricultural commodity. The hemp legislation introduced by Senate Majority Leader
Mitch McConnell, R-Ky., earlier this year also allows states to become the primary regulators of hemp cultivation, enables researchers to apply for federal grants and makes the crop eligible for crop insurance.
"This will open the floodgates for this industry to grow very rapidly and scale on a national level," said Bethany Gomez, director of research for Brightfield Group, a cannabis market researcher based in Chicago.
As part of the Company's new direction, some of the immediate initiatives management will be considering will include but not limited to: the board approval of a one-time special cash dividend of the majority of the net-after tax proceeds following the recent sale of all beer assets, corporate reorganization to include a completed a name change with FINRA, evaluate a potential change in the trading symbol, perform a corporate share restructuring to reflect the future new direction, potential auditing of the company financials, uplist to the OTC Markets QB or QX platform and continue the expansion of its Strategic Advisory Board (SAB) with key thought and business leaders.
About Between Dandelions, Inc.
BD is a Florida publicly traded, social-purpose driven lifestyle and branding company which is currently developing a line of high-end proprietary Hemp and hemp-derived CBD products to be grown and processed in North Carolina by United States Military Veterans and extracted and tested in North Carolina as well. The company's Hemp and hemp-derived CBD products are expected to be distributed in North Carolina in the beginning of 2019 and expand up and down the east coast thereafter. BD's line of products will be aimed at supporting alternatives to opiates and focus on giving back to our country's veterans thru multiple programs like OVAAT and Backpacks for Life. BD will initially operate thru an e-commerce platform that will facilitate both retail and wholesale business as well as be a vertically integrated Hemp and hemp-derived CBD company. BD and its partners will perform cultivation, manufacturing, processing, testing, sales, marketing and distribution of Hemp and hemp-derived CBD products. The company will continue to investigate opportunities to work with other socially-minded businesses that are looking to bring their brands to market and give back to our country's veterans. For more info: www.ovaat.org and www.backsforlife.org
FORWARD LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the business of Between Dandelions, Inc. (BD, hereafter) and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "estimates," "believes," "anticipates," "intends," "expects" and similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on BD's current expectations and beliefs concerning future developments and their potential effects on BD. There can be no assurance that future developments affecting BD will be those anticipated by BD. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual actions taken or results or performance to be materially different from those expressed or implied by such forward-looking statements. BD undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. **These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
SOURCE: Appalachian Mountain Brewery, Inc.