WOW! Congratulations to Carlos Frias getting his Green Lotus company acquired and becoming CEO OF Freedom Leaf! As a marine vet, what a perfect name for his company!
How fortunate that we (RMHB) have a deal doing pvt label for the sparkling drinks they just developed. Now they too already have inroads thru CBD Life in Mexico, 4000 outlets to 40,000 in a few yrs! RMHB looks like it goes along for the ride here!
"The acquisition will bring an expansion of talent and new leadership to Freedom Leaf. Upon the closing of the acquisition, Carlos Frias, a Marine Corps veteran who founded Green Lotus in 2016, will assume the role of CEO of Freedom Leaf. The combination offers Freedom Leaf an established portfolio of hemp CBD products and greater access to multiple sales channels including traditional retail, independent pharmacies, ecommerce, and direct-to-consumer. The acquisition is expected to significantly increase and broaden Freedom Leaf’s current customer base. Green Lotus has an existing multi-year agreement with CBD Life SA De CV (“CBD Life”), one of only a limited number of legal entities to hold CBD importation and distribution licenses within the Country of Mexico.
First shipments to CBD Life under the agreement are expected to begin in the second half of 2019 for CBD Life’s distribution to approximately 4,000 outlets initially, with the potential to expand to approximately 40,000 outlets over the coming years."
And wow who knew this about the sales and revenues of Green lotus:
"Green Lotus offers an eponymous line of CBD products including tinctures, soft gels, topicals, cartridges, gummies and pet tinctures and a newly introduced line of sparkling CBD beverages. In 2018, the Green Lotus companies generated unaudited gross revenue of $2.2mm with positive cash flow, and in the first quarter of 2019, the unaudited gross revenue of Green Lotus reached $1.4mm in the U.S."