The Company is in negotiations with two new distributors
via OTC PR WIRE — Elev8 Brands, Inc. (OTCQB:VATE), a holding company focused on the commercial development of hemp and CBD-based products, is pleased to announce it has eliminated eighty-three thousand four hundred and twenty dollars ($83,420.32) in debt, reducing the Company’s liabilities to nineteen thousand five hundred and forty-five dollars ($19,545.87).
Elev8’s management team negotiated with a debt holder to pay off its remaining liabilities by issuing preferred stock with a one year vesting period. The Company is working to remove its remaining liabilities of nineteen thousand five hundred and forty-five dollars ($19,545.87) which would remove all notes from the balance sheet.
Elev8 Brands, Inc. CEO, Ryan Medico, stated, “I am thrilled to announce the retirement of this debt. Elev8 Hemp is already showing the strongest month in revenue it has ever seen and now we are much closer to being cash flow positive. By the end of the week we hope to have an additional sales role filled here in Orlando.”
The Company, in addition to adding its new product lines, is focusing efforts on new revenues. Chris Risi has shown to be an amazing asset to the team and has numerous sales opportunities in the pipeline. In addition to several small grocers interested in Elev8 Hemp products, the Company is currently in the negotiation stage with two new distributors.
Medico concluded, “I am so excited to see the way things are coming together. All the individuals I have interviewed for this sales position have a strong sales background as well as distribution background. We are looking to hire an individual who will be able to take over all of our current sales accounts and have the ability to expand our brick and mortar business through retail outlets and distributors. This person will also have experience bringing new product to market, as we are in the final stages in developing our new ready to drink CBD Coffee and Tea.”
About Elev8 Brands, Inc.:
Elev8 Brands, Inc. specializes in the development and marketing of products for the fitness and wellness markets. The company is founded based on creating high-quality, sustainable, products for health-conscious consumers.
About Elev8 Hemp LLC:
Elev8 Hemp LLC is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the development and marketing of hemp-based food, beverage, and health care products including hemp coffee and hemp tea.
About 02 Breathe LLC:
02 Breathe is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on their oxygen bar while bringing in an array of CBD products. O2 Breathe carries CBD tinctures, CBD vape, CBD lotions and massage products. 02 Breathe is currently looking to offer CBD at their oxygen bar.
About Zoe CBD LLC:
Zoe CBD is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the development and marketing of CBD-based products such as CBD Tinctures, CBD E-Juice, CBD Lotion and CBD Salve.
Please visit, http://www.zoecbd.com for more information
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control.
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