PHOENIX, AZ / ACCESSWIRE / March 27, 2019 / For The Earth Corporation (the "Company" or "FTEG") (OTC PINK: FTEG), an emerging vertically integrated CBD producer and retailer, is excited to announce the acquisition of the "Block and Tackle" sunscreen brand (blockandtacklesunscreen.com), a branded sun care product known for its long-lasting efficacy and strong environmental record. The acquisition includes all related Block and Tackle assets and formulas.
"We like to move on value, and we believe there is huge value in Block and Tackle," commented FTEG CEO Nelson Grist. "The sunscreen boom isn't talked about a whole lot, but our research suggests this is a big and growing multi-billion-dollar market. Block and Tackle is Gluten Free and environmentally friendly and has clear differentiation in the marketplace as a high-quality brand with strong marketability toward key segments of the end market."
Management notes that Block and Tackle Sunscreen is free of dangerous oxybenzone, which has already been outlawed in Hawaii (beginning in 2021) due to its destructive effects on reef life. It is also packaged for minimal environmental impact. In addition, professional Bass Master Open Tour Angler Ron Johnson, and professional fishing guide, is an avid fan and user of Block and Tackle Sunscreen. Ron Johnson-Facebook
According to recent analysis from Transparency Market Research, the global sun care market continues to show robust growth and is set to reach $24.9 billion in total sales by 2024.
Mr. Grist continued, "Differentiation is everything in the sunscreen space. Block and Tackle has differentiated itself by its popularity in the fishing market and its environmentally friendly composition, packaging, and image. We strongly feel this acquisition lines up very well with our For the Earth branding image and should provide important revenue flows as we continue to emerge as a leading vertically integrated CBD producer and retailer."
About For The Earth Corporation
For The Earth Corporation is an emerging integrated CBD producer and retailer in the United States. The Company is in the process of establishing a vertical framework that will extend from cultivation to extraction and production to a strategic retail footprint that includes multiple locations in Las Vegas and New York featuring mall kiosks, vending machines, e-commerce, and full store locations serving both the human and pet CBD markets. Two mall leases have been signed recently in Las Vegas, with another vending machine location secured in New York City. The Company plans to expand its New York vending machine penetration by the end of 2019. In addition, the Company has begun early-stage work to establish a state-of-the-art CBD extraction and production facility in Eugene, OR.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See For The Earth's filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: For The Earth Corporation