| Source: Pure Harvest Cannabis Group, Inc.
Acquisition Adds Significant CBD Production & Distribution to Pure Harvest’s Growing Portfolio
Denver, CO, April 28, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Pure Harvest Cannabis Group, Inc. (OTCQB: PHCG), an emerging cannabis and hemp-CBD holding company, is pleased to announce that it has completed its acquisition of EdenFlo, LLC, a large-scale producer of CBD extracts and concentrates, for a combination of stock and cash. The acquisition adds a significant CBD production and distribution company to Pure Harvest’s growing cannabis portfolio. EdenFlo has been acquired by Pure Harvest Hemp, Inc., a wholly owned subsidiary of Pure Harvest Cannabis Group, and became effective April 24, 2020.
EdenFlo has been established to pursue a significant presence in the global CBD market under the “Elevated Harvest,” “Wild Pet Blends,” and “Love Pharm” brand names. The company is located in a state-of-the-art laboratory in Aurora, Colorado and has implemented cutting edge manufacturing practices and techniques to create superior product offerings. The laboratory currently has 8 employees.
EdenFlo intends to supply CBD for all Pure Harvest brands and will work with white label partners to supply retailers with the CBD products they desire. The Company will produce tinctures, lotions, gummies, drinks, gel caps, capsules, CBD pet products, skin creams and other products, all of which will be made to order and delivered to retail partners as needed. Pure Harvest Hemp plans to market its products online, in Pure Harvest stores, and through large retail distribution companies.
David Burcham, Co-Founder and CEO of EdenFlo, will become the president of Pure Harvest Cannabis Group, Inc. and join the boards of Pure Harvest Hemp and Pure Harvest Cannabis Group.
“I am very pleased to complete this transaction with our new partners at Pure Harvest and to become a member of the Pure Harvest leadership team,” stated Burcham. “We firmly believe this merger creates a 1 +1=3 opportunity. The talent and assets assembled at Pure Harvest should allow us to rapidly expand EdenFlo operations while broadening other opportunities for Pure Harvest. The Company will be able to scale its in-demand CBD product offerings much more efficiently.”
“Acquiring EdenFlo has been one of the top priorities for Pure Harvest as we aggressively pursue synergistic opportunities in the Colorado cannabis industry,” stated Matt Gregarek, CEO, Pure Harvest Cannabis Group. “We believe that EdenFlo will greatly accelerate our successes with our other portfolio companies. And of course, adding an executive with the vision and track record of David Burcham and his team should be most impactful.”
EdenFlo is a large-scale Colorado-based hemp-CBD producer. EdenFlo’s wholesale isolate is made from the highest quality ingredients, utilizing only the best extraction and distillation methods to ensure a final product of extreme purity. EdenFlo’s scientific procedures used for the remediation of THC provide the cleanest broad-spectrum (distillate) oil available in the cannabis extraction industry as a whole. www.edenflocbd.com
The Pure Harvest Cannabis Group, Inc. (OTC: PHCG) is a publicly traded holding company involved in all cycles of cannabis and CBD development. The team is committed to providing the highest quality products, ethical growing standards, environmental awareness, and corporate integrity. Pure Harvest intends to develop into a large scale, vertically integrated, multi-state operator (MSO), producer, and distributor in well-established and growing markets.
Pure Harvest is focused on developing precision dosed cannabinoid health and wellness consumer products. One of the Company’s main goals is to establish Pure Harvest as an iconic consumer product brand offering a wide variety of cannabis/CBD products. The products can be sold in multiple international markets that have legalized cannabis and hemp-derived products.
Forward Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rules 175 and 3b-6 of the Securities and Exchange Commission, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.