AUSTIN, Texas, Oct. 11, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS:DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis and CBD marketplace, is excited to announce that it has begun formal negotiations with the intention of acquiring a premier CBD Oil company (the “Acquisition Target”) to be identified in an ensuing press release.
“We have been pursuing this type of deal – either a full acquisition or a strong joint venture partnership – with a compatible company in the CBD and Cannabis space,” stated Stavros Triant, DVLP CEO. “We believe we have found our perfect match, and we are attempting to get this deal in place.”
While the Company is unable to release the name of the Acquisition Target at this time, several details have been approved for this communication. The Acquisition Target is a rapidly growing fully-commercial entity in the CBD Products market that:
- Currently generates annualized monthly sales of CBD and CDB Products in excess of $5 million
- Has a year-to-date sales growth rate in excess of 300%
- Actively markets and sells premium-grade edible CBD food products, skin creams, distillates, tinctures, vape oil, and Pure CBD Isolate
- Markets products derived from Hemp-based CBD, which is currently legal in all 50 US states
- Is profitable on an operating basis
- Represents a synergistic fit with DVLP existing portfolio companies
Management points to new research from cannabis industry analysts at the Brightfield Group predicting the hemp-CBD market alone could reach $22 billion by 2022, representing more than 3,600% growth over the next four years. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million. Total CBD sales will hit $591 million in 2018, according to a study published in Rolling Stone last month.
Reduced stigma, legislative changes, and a more widespread awareness of the health and wellness benefits of CBD appear to be fostering an acceleration of this exponential growth curve.
Mr. Triant continued, “The CBD marketplace is experiencing scaling growth that represents a truly historic boom of epic proportions. And experts only expect growth to accelerate over coming years. While we are only in the negotiation stage of this acquisition opportunity, if we can nail down terms and complete this deal, we feel it has the potential to position the Company as a powerhouse player in that boom. And we look forward to updating shareholders as soon as possible as the process unfolds.”
DVLP currently has two portfolio companies, www.wheresweed.com (wholly-owned) and www.puravidavitamins.com (joint venture partnership).
About Where's Weed
Where's Weed is an American cannabis technology company known for connecting medical and recreational cannabis users with trusted local marijuana businesses in their communities. Where's Weed was founded in 2011. The company launched the Where's Weed Android app in 2014 and released the iOS version in 2015.
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. Through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.
Media Contact:
Stavros Triant
stavros@goldendeveloping.com
623-826-5206