PHOENIX, AZ, April 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG), an emerging vertically integrated CBD producer and retailer, is proud to announce the addition of two new CBD products: CBD Sunscreen and CBD Lip Balm.
Management believes the CBD skin care space has a faster path to mainstream adoption than most areas of the CBD market. According to hempindustrydaily.com, the demographic of sales for CBD-based skin care products has been expanding beyond the areas that one might expect, including major growth in Midwest states like Iowa, Michigan, and Oklahoma. In addition, the Company believes fewer competing products exist in the sunscreen and lip balm area of the CBD skin care market, suggesting a clear opportunity.
“It’s easy to lose perspective on the stunning boom going on in the CBD space,” notes FTEG CEO Nelson Grist. “The numbers are so dramatic that I think a lot of people lose touch with the idea that this is still a very small market gradually evolving from a niche cultist following into a major mainstream goods market. That’s going to happen because your next door neighbor starts using CBD products. And we think the gateway products will be the CBD versions of other stuff most mainstream consumers are already familiar with, like skin creams, sunscreens, and lip balm. That’s the leading edge of the revolution, and we want to be aggressively positioned for that process as it plays out over coming quarters.”
Management notes that, following the signing of the 2018 Farm Bill into law in December, estimates for growth in the CBD products market have been ratcheted sharply higher among analysts, pushing anticipated return on investment in CBD well above most all other consumer product niches in terms of growth, according to Brightfield analysts, who see total CBD sales expanding to $22B over the next 3 years.
The Company recently acquired leading sunscreen brand, Block and Tackle (blockandtacklesunscreen.com), in a deal that included all related assets and formulas. The intellectual property included in that deal now forms the foundation for a series of new CBD-based products for FTEG, including its new sunscreen and lip balm lines. Management believes this co-product development process directly expands the value of the Block and Tackle acquisition by extending that IP into additional product categories.
Mr. Grist continued, “In a world where most of our competition is sticking logos on white label material, we are building a brand based on our vertical model, with a reliable guarantee of purity and potency because we will drive the process from end to end. We believe that is a message that can truly differentiate For The Earth for consumers in the health and wellness space.”
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.