LAS VEGAS, NV, July 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS:ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, is proud to issue upwardly revised guidance on the Company’s revenue outlook for fiscal third-quarter and 2019 full-year performance data.
“Excess growth is coming from our Health and Wellness division,” commented ISBG CEO, Terry Williams. “This is not entirely a surprise. We anticipated growth from our CBD products segment. But we underestimated the growth potential of our home health caregiver segment, which is now also folded into Health and Wellness. We continue to pick up new clients at a very robust rate, and that needs to be figured into our top line outlook.”
Management notes that fiscal Q2 produced over $165,000 in overall sales from the Company’s Health and Wellness division, which represents 120% sales growth on an annualized basis. The Company believes this is likely also an underrepresentation given the strong likelihood of sequential quarterly growth continuing in Q3 and Q4 based on the unit-level dynamics of the home health care marketplace and the momentum already established.
The Company has also begun a search for top-tier advisory board members with significant experiential capital in the CBD product development and incubator niche. Management believes there remains significant upside growth potential as ecommerce brand development, marketing, and sales are paired up with an aggressive physical retail distribution strategy for the P19 CBD product line over coming quarters.
Mr. Williams continued, “2019 is a pivotal year for ISBG. Make no mistake about it. We are a very different company now compared to last year. Ultimately, that’s why we changed our name. And that strategic shift is starting to bear fruit in the form of accelerating sales growth.”
About ISBG: International Spirits & Wellness Holdings, Inc. (ISBG) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISBG intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISBG has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace.
Forward Looking Statements: This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
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