(Image Credit: Laguna Blends via Screengrab)
VANCOUVER, BC / ACCESSWIRE / April 20, 2017 / Laguna Blends Inc. (CSE: LAG) (OTC PINK: LAGBF) (FSE: LB6A) (the "Company" or "Laguna") is pleased to announce that it has entered into an Exclusive Sales Agreement (the "Agreement") with Naturally Splendid Enterprises Ltd. (TSXV: NSP) for its Cannaceutical Skin Care line consisting of seven unique products infused with CBDs.
Terms of this Agreement require the Global Hemp Distribution Company to make minimum annual purchases from Laguna totalling over $4,000,000 USD within three years. Territories covered by this exclusive Agreement include: Japan and South Korea as well as additional countries that will be announced in a timely manner. Based on previous sales volumes reported from Laguna's Global Hemp Distribution partner and the current market appetite for CBD skin products throughout Europe and Asia, Laguna anticipates sales of the Cannaceutical Skin Care line to far exceed these minimum purchase amounts. The Hemp Business Journal estimates the total U.S. CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources.
Marcos Agramont, COO of Laguna stated, "This exclusive agreement gives Laguna global distribution for its revolutionary Cannaceutical Skin Care line. The growing popularity and known medicinal benefits of CBD-infused products has created a rapidly expanding multi-billion dollar global marketplace. By utilizing existing business relationships and distribution agreements throughout Europe and Asia, Laguna can market its expanding portfolio of unique CBD products to high-demand existing buyers in these regions as well as throughout North America where CBD products can be sold."
The Company anticipates providing an update as it works through the final stages of the pending transaction with a global CBD leader with annualized revenues of $12m USD announced March 13, 2017 in the coming week.
About Laguna Blends Inc.
Laguna Blends is a market leader in the distribution of Hemp and CBD products. Laguna's growth strategy includes acquiring and incubating companies who formulate and or manufacture Hemp products. Laguna Blends markets Hemp products utilizing its B to B Network along with driving traffic to its Laguna Blends online marketplace.
It is Laguna's intent to provide the highest quality hemp product experience for the end user, utilizing a proprietary nanotechnology in many of its consumable and topical skin care products. Laguna is currently seeking joint ventures and acquisitions to expand its portfolio and will aggressively begin international expansion into Asia and Europe in 2017.
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This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future the Company's business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.