Orlando, FL, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Apple Rush Co., Inc. (OTC Pink: APRU), a holding company that engages in the business of developing, marketing, distributing, and selling products that promote a healthy lifestyle with a primary focus on food, beverage, anhydrous Hemp oil marketplace, kratom, kava, and other active ingredients announces a signed letter of intent to purchase Elev8 Hemp, LLC from public company, Branded Legacy, Inc. (OTCQB: BLEG).
Both companies will proceed in good faith to engage in negotiations to agree upon and execute the Agreement encompassing the salient points of this LOI. Both companies have agreed to perform all necessary due diligence during the Thirty (30) business day period following the execution of the LOI. To better fit the Company as a whole, Apple Rush is looking to do a name and symbol change to align with all of its current and future business. The purchase of Elev8 Hemp, LLC is inclusive of all preprinted packaging and intellectual property for coffees allowing for immediate relaunch into Amazon, website, as well as brick and mortar.
Elev8 Hemp is a wholly owned subsidiary of Branded Legacy, Inc. that makes hemp and CBD coffees and teas. They were founded in 2016 the launch of its first hemp coffee made of Guatemalan, Colombian and Brazilian beans. They have since grown into multiple flavors of hemp coffee, expanded into hemp tea, and launched a CBD infused whole bean coffee.
Tony Torgerud, CEO of Apple Rush Co., Inc. stated, "We believe Elev8 Hemp has a strong brand that we can further develop. With our ability to handle much of the work in house, I believe we can really expand this coffee brand into many flavors, many CBD dosages, non-hemp and CBD coffees, and even expand into kratom coffee.”
Brandon Spikes, chairman of Branded Legacy, Inc., stated, "With Apple Rush Co. now providing Delta-8 tinctures for us, the conversation came up about Elev8 Hemp. A few weeks later and here we are. As we have developed our CBD line through Spikes CBDX and recent acquisitions, we feel that Apple Rush will have great success in further development of Elev8 Hemp."
About The Apple Rush Company, Inc.
The Apple Rush Company, Inc., through its subsidiary APRU, LLC, is a distributor of CPG products under the trademarked Apple Rush brand, Element Brands and other labels. The Apple Rush brand has almost 49 years of existence in the natural beverage industry. As a historical leader in the organic and natural beverage sector our goal is to now become a leader in the distribution of anhydrous hemp oil products nationwide. For more information, please go to www.applerush.com, www.aprubrands.com, https://woahnursery.com, and www.element-brands.com with our expanded product portfolio.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Tony Torgerud 888-741-3777 x 2
