FORT LEE, NJ, Nov. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”), an emerging leader in the CBD, Blockchain, and Luxury Retail markets, is excited to announce receipt by its wholly-owned subsidiary, The Greenery (https://thegreeneryco.com), of a large delivery of its new line of branded CBD Gummies. This is the final delivery in establishing The Greenery’s initial product inventory before the launch of an aggressive distribution process.
This delivery consists of 9,500 units of 10mg CBD Gummies for sale under The Greenery brand label.
“We have amassed a very strong inventory of products now at The Greenery, and we are ready to focus on distribution and monetization going forward,” remarked Anil Idnani, CEO of GDET. “Our large inventory of CBD oil, tincture, salve, pet treats, masks, and our signature Honey Hemp infusion is all fully paid-for. The process of monetizing that inventory represents pure upside for shareholders going forward. Our Greenery segment is in a terrific position, which will allow us to be very aggressive in the weeks and months ahead.”
Management believes that, along with topical skin products, gummies represent among the most accessible modes of delivery of CBD to the mainstream retail consumer market. The Company also strongly believes that mainstream consumer adoption of CBD products represents a tailwind set to push overall CBD sector growth in the quarters ahead.
This view aligns with recently published research suggesting that the growth rate for the overall CBD-based products market is accelerating during the second half of 2019. According to research from MRFR, the global CBD market is estimated to register a CAGR of 125% from 2019 to 2026. The Brightfield Group joins in this appraisal, noting that 2019 alone is expected to show growth of over 900% as mainstream big-brand retailers – such as Kroger’s, Walgreens, Walmart, Rite-Aid, and others – begin to carry CBD products in plain sight of browsing consumers.
Mr. Idnani continued, “The Greenery is positioned as a leadership play in a rapidly growing space. The overall CBD market continues to blow up, and we have targeted a branding and distribution strategy that will differentiate us from the herd as that growth curve continues to ramp higher. Now that we have amassed a sufficient inventory of premium quality branded products, shareholders can expect more tangible results. Keep an eye out for more details to follow.”
About GDET
GD Entertainment & Technology, also known as GDET, focuses on high growth industries to fulfill a diverse selection of premium products nationwide. The company currently manufactures, wholesales, and markets a portfolio of blockchain/financial service-based products. GDET strives to become one of the premier Cryptocurrency mining facilities that is client-focused and dedicated to creating a new standard in the Blockchain space based on security and transparency. GDET has also developed a strong relationship with suppliers worldwide to ensure future purchasing. The company currently has two subsidiaries, DreamCard and HyperDigital Technologies, which both offer a selection of transactional-based products and services. DreamCard allows users to create a customizable debit or credit card using its state of the art online platform. HyperDigital Technologies is the Cryptocurrency ATM sector of GDET and aims to secure multiple MSB, money services business, licenses in order to host ATM units throughout the country.
Safe Harbor Provision Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review GD Entertainment and Technology annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.