SURG and PNTV to stake a claim to the projected $22 Billion CBD industry to distribute Green Leaf PURE CBD products into over 40,000 retail locations.
LAS VEGAS, NV, Dec. 20, 2018 (GLOBE NEWSWIRE) -- Surge Holdings, Inc. (OTCQB: SURG), Las Vegas-based Telecom and Blockchain FinTech software company, and Player’s Network, Inc. (OTCQB: PNTV), a rapidly growing company in legal marijuana industry announce today a joint venture to distribute Green Leaf PURE CBD products to a network of approx. 40,000 retail stores throughout the United States.
The relationship allows PNTV to focus on continual development of high-quality CBD products and brands while SURG utilizes their SurgePays Blockchain B2B distribution platform and outbound call center to introduce, sell and manage the ongoing replenishment of these products.
CBD continues to be one of the fastest growing markets in the United States with sales expecting to reach $22 billion by 2022. Additionally, the passing of the Farm Bill 2018 which included the Hemp Act of 2018 removed the barriers associated with growing hemp due to federal prohibition to include restricted access to banking, water rights, and crop insurance. The signing of this bill will define hemp as a federally legal agricultural product; subsequently removing all of the restricting legislation and opening the door for PNTV and SURG to capitalize early on this multi-billion dollar industry.
Through the JV, the initial order kit for new stores will range from approximately $399 to $1,500 or more. Anticipated monthly orders will be of similar value based on location and the size of the retailer.
Currently, the market for CBD is on track to generate more than $600 Million in 2018. Analysts project that CBD sales will reach over $1 Billion by 2020 and is expected to exceed $22 Billion by 2022.
SURG has recently signed contracts to grow their distribution network of convenience stores and bodegas to 40,000+ retail locations throughout the United States. The joint venture with PNTV creates an immediate distribution channel for Green Leaf PURE to capture a share of nationwide brick and mortar CBD sales while both companies expect to realize significant revenue increases as the CBD market grows.
“The bulk of the first to market CBD product sales will not be through big box retailers, but through the 100ks of corner stores, convenience stores and bodegas nationwide.” said Brian Cox, Surge Holdings CEO. “With the passing of the Farm Bill, we expect CBD products to be in high demand and first to market usually wins. We will leverage all of our relationships, call center and software platform to blitz the market nationwide to claim our stake and shelf space.”
Brett H. Pojunis, Director of PNTV, said “now that the Farm Bill of 2018 which includes the Hemp Act of 2018 has passed, this opens up the entire United States as potential customers for our CBD products. The relationship with SURG couldn't have come at a better time! Brian (SURG CEO) and I have been working on developing the best products for the targeted demographics of their retail stores and we feel this will be a huge success.”
About Surge Holdings:
Surge Holdings a publicly traded company that wholly owns subsidiaries that utilize emerging technology to improve the quality of life for the unbanked, under-banked, and the overlooked. Current holdings include Telecommunications, Blockchain Fintech Software as a Service (SaaS), Cryptocurrency Asset Mining and Social Media Digital Marketing. Surge Holdings, Inc is traded under the stock ticker symbol: SURG.
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About Player’s Network (PNTV)
Player’s Network is a rapidly growing company in the marijuana industry as the owner of Green Leaf Farms Holdings with licensed grow operations in Nevada and California that trades on the OTC Market – stock symbol PNTV. Over the last 12 months, the Company has gone from a development stage company to a fully operational cannabis business. Owner of its media network WeedTV.com The Cannabis Network. The Company believes this trend of legalizing marijuana will continue and create tremendous growth opportunities for their shareholders as it continues its business strategy growth by acquisitions, joint ventures, and investments new emerging market opportunities.
The Green Leaf PURE CBD brand is made from the highest quality CBD, developed with strong dosage as well as superior ingredients in their formulations. All Green Leaf PURE CBD products are tested to ensure safety and the highest quality CBD. Green Leaf PURE is currently accepting pre-orders on the company’s website https://greenleafpure.com.
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Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: inability to gain or maintain licenses, reliance on unaudited statements, the Company’s need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company’s products, and other risks that are detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Players Network, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Surge Holdings Contacts:
Investor Relations Email: CC@SURGEHOLDINGS.COM
Investor Relations Main Number: 901-247-8095
Investor Inquiries:
David Klepinger, Investor Relations Manager
Email: dklepinger@playersnetwork.com
Office: 702.840.3283
Interview Requests & Media Inquiries (General):
Brett H. Pojunis, Director
Email: bpojunis@playersnetwork.com
Office: 702.840.3272
Player’s Network Contacts:
Investor Inquiries:
David Klepinger, Investor Relations Manager
Email: dklepinger@playersnetwork.com
Office: 702.840.3283
Interview Requests & Media Inquiries (General):
Brett H. Pojunis, Director
Email: bpojunis@playersnetwork.com
Office: 702.840.3272