PHOENIX, AZ, Feb. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG) is excited to announce immediate plans for the establishment of a new state-of-the-art CBD extraction and production facility to be located in Eugene, OR. The facility will complement the Company’s already-established retail CBD footprint, which includes mall stores, mall kiosks, vending machines, and e-commerce storefronts, with physical locations in both Las Vegas and New York City.
“We see For The Earth as an integrated CBD producer and retailer in the making,” stated Nelson Grist, CEO of FTEG. “In more mature industries, the value is in strategic partnerships and collaboration, but CBD is a frontier industry – as is anything related to cannabis right now. That means the lion’s share of the value lies in getting the best deals up the supply chain. There’s no better way to ensure the best possible pricing and dependability into the storefront than to buy from yourself.”
Management notes that estimates for growth in the CBD space have been sharply boosted by the signing of the 2018 Farm Bill into law, with some research and analysis firms now anticipating well over $20 billion in total CBD sales in North America over the next 3 years, representing more than a 20-fold increase from current levels.
“We have a lot of faith in the end-demand projections for this market because the vast majority of Americans haven’t discovered CBD yet,” continued Mr. Grist. “As more and more do, this market will suddenly seem vastly undersupplied, and we will have a direct route from extraction facility to end market consumer with no wildcards along the way. We love that positioning model and see a clear path to making it happen. We are getting started on the Eugene project and look forward to keeping our shareholders posted as it progresses.”
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.