ORLANDO, Fla., Aug. 16, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Elev8 Brands, Inc. (OTCQB: VATE), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages along with an array of CBD topicals and tinctures, announces impressive second quarter financials and new distribution contracts.
Coming off an extremely promising first quarter, Elev8 Brands, Inc. has continued their upward trajectory for the year, surpassing their first quarter earnings by 25%. While this would be extremely impressive for any company in the highly competitive CBD space, this incredible fiscal performance comes after Elev8 Brands’ separation from O2 Breathe, a former subsidiary that chose to exercise an exit clause earlier this year. In addition to this growth, June marked the Companies first month of profit. This is an astonishing feat in under three years.
O2 Breathe, known for CBD-infused oxygen bars, used to earn $220K annually for Elev8 Brands, Inc. Elev8 is growing at a breakneck pace and not only generated revenues to make up for O2 Breathe’s absence but still earned 25% more on top of that original number. From an annualized perspective, Elev8 Brands, Inc. has actually grown over 88% this year between Elev8 Hemp, LLC, Zoe CBD, LLC, and Blessed Bean, LLC.
“We are so excited to see this year unfold. Our plan is on schedule and we will far surpass our goal of distributors this year,” says Ryan Medico, CEO of Elev8 Brands, Inc. “We have sold through our first production run of our ready to drink CBD beverages rather quickly ending June with the Company’s first profitable month. With the finalization of our national logo and branding redesign in the next couple weeks, we are excited to be announcing new flavors of our beverages. These new flavors will more than likely triple our revenues as we have had many requests for additional flavors already.”
This growth is on track to continue because demand for CBD product is only increasing. Elev8 Hemp is currently processing a small production run of their CBD-Infused Ready-to-Drink coffees and teas to fulfill demand until the new label work is complete. This new design, defined primarily by a new logo, is a critical part of crafting a national brand identity that will flow through all of Elev8’s product lines. The new design will provide heightened brand visibility and cultivate brand loyalty as products hit shelves nationwide.
While Elev8 has announced several new distribution contracts recently, those interested in being a part of the CBD-infused industry continue to seek out contracts with our talented sales team. Elev8 Brands recently signed contracts with BS Distribution, which covers large sections of California like Sonoma, Napa, Mendocino, Marin, and Solano, and Illinois-based Endeavor Imports, Inc, covering highly populated metropolitan areas like Chicago, Rockford, Naperville, and Evanston.
Adding two new contracts last week brings Elev8’s distribution network up to 18 individual companies looking to get Elev8’s products into more retailers and customer’s homes than ever before. Any parties interested in sampling Elev8’s CBD-Infused Ready-to-Drink coffee and tea or ordering product for distribution or retail can do so on Elev8 Hemp’s website.
About Elev8 Hemp, Inc.
Elev8 Hemp’s mission is simple: craft the highest-quality, organic hemp products for consumers in search of a healthier, happier lifestyle. Everyone needs to get the proper amount of healthy proteins to keep them feeling better and more energetic. We source only the best organic hemp protein powders—naturally full of powerhouse amino acids and Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with an abundance of minerals, vitamins, antioxidants, and fiber.
Mother Nature creates this pure hemp with a rare, perfect balance for optimal nutrition and exceptional taste. Elev8 Hemp takes these raw, natural products and transforms them into delicious CBD-infused beverages that will become your new favorite daily drink. CBD-infused coffees and teas are our specialty, and we take our mission very seriously. Let us do what we do best and let achieving a healthier lifestyle be as simple as remembering your morning cup.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
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