PHOENIX, AZ, March 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG) issues the following Letter to Shareholders from the CEO:
Dear Valued Shareholder,
As our recent communications have outlined, we are transitioning into a vertically integrated CBD producer and retailer. We are extremely grateful to our committed shareholders for joining us on this exciting journey. Today, I wanted to bring you up to date on what we have accomplished and what our next steps will be.
First off, our new website is up and live. You can find it at ftegco.com. Be sure to check back often to follow our progress there.
Next, I am very excited to announce that we are making strong progress on acquiring our new state-of-the-art CBD extraction and production facility. We have sharply narrowed down our list of top candidates with the goal of closing on a facility by next month. This is an enormously important piece of the puzzle for setting our fully integrated vision in motion. We will be outfitting the facility with a high-capacity supercritical CO2 extraction machine along with other essential equipment and moving quickly into production.
I am also very excited to report that we will be launching our own distribution facility in Phoenix, AZ. That facility should be fully up and running by April 2 – and possibly sooner than that. This will be our distribution hub and will serve as a primary sourcing point for all of our major end markets, including full-spectrum high-potency CBD products, a range of pet products, and our Bacteria Elimination cleaning products.
With our new emphasis on the rapidly growing CBD market, it’s easy to forget that we have tremendous traction in the hi-tech cleaning products marketplace. Our Clean Life brand uses advanced Nano-mechanics to destroy pathogens and leave a protective shield (our “Advanced Coating Technology”) on surfaces to inhibit the growth of new pathogens where treatment with Clean Life products has occurred – all without the use of harsh or harmful chemicals.
If you want to understand more about our cleaning products, our technology, or the science behind this process, please visit our Clean Life products site at cleanlifecorp.com.
Finally, I wanted to update our recent moves to expand our CBD retail footprint. We will be interfacing with end-market consumers in a range of ways, as we have noted in recent communications. Two of the most powerful avenues are our CBD mall kiosks and CBD vending machines.
Our mall kiosk strategy will focus on both human CBD products and pet products, including CBD for pets, which is a surprisingly powerful growth market. It shouldn’t be surprising if you take a moment to think about it. CBD is an extremely effective agent on so many fronts for animal physiology given its interaction with the endocannabinoid system. Those same CB1 and CB2 receptors that have such an impact on our own physiology are present in our furry friends as well. And most pet owners desire natural, organic products that increase the well-being of their pets.
To give you a sense of how big this market could become, pet owners spent over $30B in 2016 on pet supplies, treatments, and veterinary care, according to the American Pet Products Association. Some percentage of that spending is a substitution target for CBD products.
Our first kiosk will focus on human CBD products. Our second will focus on the pet market.
In addition, our Las Vegas retail footprint will be open and active beginning next week. We also plan to expand aggressively into the Arizona and Florida markets next.
Best Regards,
Nelson Grist, CEO
About For The Earth Corporation
For The Earth Corporation is an emerging integrated CBD producer and retailer in the United States. The Company is in the process of establishing a vertical framework that will extend from cultivation to extraction and production to a strategic retail footprint that includes multiple locations in Las Vegas and New York featuring mall kiosks, vending machines, e-commerce, and full store locations serving both the human and pet CBD markets. Two mall leases have been signed recently in Las Vegas, with another vending machine location secured in New York City. The Company plans to expand its New York vending machine penetration by the end of 2019. In addition, the Company has begun early-stage work to establish a state-of-the-art CBD extraction and production facility in Eugene, OR.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See For The Earth’s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.