Company to operate as a CBD oil/flower broker and focus on CBD and cannabis consumer products
OVERLAND PARK, Kan., Nov. 09, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Green Globe International, Inc. (OTCMKTS: GGII) has reorganized and acquired the operational assets of BestNPet, Inc., a Dallas-based producer of CBD-infused pet treats and other consumer pet products. As part of this transaction, GGII sold its interest in Green Globe, Ltd. to prior management and BestNPet’s shareholders and creditors obtained 80% control of the Company through a transfer of preferred stock.
BestNPet previously spun-off its Pupco Brands, Inc. subsidiary to Paul Lien, its previous President/CEO, and other member of BestNPet’s senior management team; GGII obtained the balance of BestNPet’s assets in connection with a reorganization of BestNPet.
GGII’s shareholders consented to the appointment of Tom Elafros, Overland Park, Kansas, as Chairman and CEO; Michele Sheriff, Dallas, Texas, as director; and Ken Weidrich, Frisco, Texas, as director. Mr. Elafros was previously a director of BestNPet. The Company has applied for quotation and ARS filing privileges with OTC Markets and will bring its public information and financial reporting current immediately upon approval of its application.
Mr. Elafros stated, “I’m excited to take the helm of Green Globe International and oversee its transition into a leading CBD broker and distributor of CBD products. We’ve developed excellent contacts with CBD oil and hemp flower producers, and expect to generate revenues from brokering these CBD products to manufacturers. Consumers are just now starting to recognize the benefits of CBD consumption and new products come to market daily. We can generate revenues helping growers, processors and manufacturers. Our role in this market also exposes us to potential acquisitions in consumer product manufacturing and we intend to pursue the best of those as well.”
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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