Dallas, Texas- February 20, 2020 – GL Brands, Inc. (OTCQB: GRLB) (“the Company”) (www.glbrands.com) a global hemp consumer packaged goods company and global house of brands based in Dallas, TX, announces today the following Letter to Shareholders from CEO Carlos Frias:
“Shareholders,
GL Brands is pleased to announce that, alongside our OTCQB listing, we have effectively evolved the Company’s business model as a hemp and CBD CPG (Consumer Packaged Goods) company with manufacturing, licensing and distribution worldwide. This has enabled the Company to effectively transcend the mom and pop markets. We are now positioned for sales to global enterprise accounts toward anticipation of expedited surge in revenues and overall market opportunities.
Where most are focused on strictly CBD-centric CPG, we are equally exploring opportunities with hemp CPG, which we find has exciting potential in this space, including use of cannabinoids, hemp seeds and hemp seed oil based products.
We have streamlined operations since GL Brands’ merger and have divested off non-related assets. As a result, we have reduced SGA (Sales, General and Administrative expenses) by $500,000/mo and are focused on enhancement and expansion of product lines in the CPG space alongside positioning our brands as widely recognized industry favorites for consumers and strategic alliances alike.
Since the passage of the Farm Bill in December 2018, cannabis has become a more viable product category. Nielsen data shows that one out of two adults in the United States are likely to use cannabis in in 2020. As well, Legalized U.S. cannabis sales are projected to reach $41 billion by 2025, much of which is being positively impacted by the potential held in the convergence of CBD, Hemp and CPG. We intend to capture a notable market share beginning with flagship brands like www.iriecbd.com and www.greenlotushemp.com, our flagship brand which happens to be the first company in the industry to export products to Mexico.
There is tremendous opportunity here: This not only hedges our overall risk with business outside of the U.S. but increases overall competitive advantage as a global first-mover in this space. Medical marijuana is expected to emerge as one of the most lucrative businesses to venture into in Mexico in the coming years due to large population and patient pool. Very few companies have the technology, financial resources, and legal clearance to venture into large-scale cultivation of marijuana.
That said, we thank shareholders for their stake in our vision. We are now strategically positioned for long-term profitability with merger expenses satisfied in full toward cultivating long-term shareholder value with near term spike in revenues and access to multiple revenue streams worldwide.
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About GL Brands Inc.:
GL Brands is a global hemp consumer packaged goods company that creates authentic, enduring and culturally relevant brands engaged in the development and sale of cannabis-derived wellness products. Through its premier brands Green Lotus™ and Irie CBD, GL Brands delivers a full portfolio of hemp-derived CBD products, including tinctures, soft gels, gummies, sparkling beverages, vapes, flower and topical segments to promote greater wellness and balance, in the U.S. and throughout the world. For more information, please visit https://www.glbrands.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by phrases such as “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe GL Brand’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of GL Brand’s products and services, changes in relationships with third parties, and other factors described in GL Brand’s most recent periodic filings with the Securities and Exchange Commission. These risks and uncertainties include, without limitation, changes in general industry or regional market conditions; changes in consumer and customer preferences for our products; loss of business from increased competition; changes in strategic relationships; unfavorable fluctuations in currencies or interest rates in the regions in which we operate; changes in regulatory conditions; changes in tax laws; import and export duty and tariff rates in or with the countries with which we conduct business; and negative impact of any governmental investigations and associated litigations.
The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Investor Contacts:
Matt Bartlett. COO
GL Brands Investor Relations: ir@glbrands.com
(707)-535-6846
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