Orlando, FL, April 26, 2018 (GLOBE NEWSWIRE) -- Majestic Oil & Gas, Inc. (OTC: MJOG), announces today that it has entered into a Letter of Intent (LOI) with SkyCloud Terpenes LLC to acquire 50% of the company. SkyCloud is currently selling online, and is projected to double their sales, and distribution by the end of 2018. SkyCloud specializes in Terpene distribution, development of Terpene based products, and providing solutions for businesses who have a need for, or can benefit from, the use of Terpenes in their own products, especially within the cannabidiol market.
"We are excited to be associated with SkyCloud and its management. Together we have the opportunity and potential to bring growth for both companies and increase shareholder value,” said Calvin Lewis, CEO of MJOG. “With the ever growing CBD business, adding SkyCloud to our portfolio will position our company to be at the forefront of the cannabidiol sector,” Calvin continued.
Expectations for the cannabidiol (CBD) market continue to look bright as estimates are projecting the market to grow by 700% by 2020, according to Forbes . A new report by cannabis/legal marijuana market analysis firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year's cannabidiol (CBD) market of $202 million. As the market continues to swell, it is expected the space will reach the billion-dollar status as product diversification and global demand drive revenue levels. One of the major drivers for the CBD market is the growing list of Health benefits of CBD oil. CBD oil products have several benefits and are believed to cure various ailments in the human body. Over the past few years, the demand for CBD oil has increased in different parts of the world because of the growing awareness about the health benefits alone.
About SkyCloud Terpenes
Having secured strong, and in some cases, exclusive relationships with international and domestic manufacturers of Terpenes we can offer a variety of products for the Terpene industry and its users. SkyCloud has an exclusive relationship with a research & development team of individuals who are PHD’s in Biochemistry, Chemistry, and Neuroscience. Using this resource, we can create customized Terpene profiles to meet a customers' specific needs, specifications, and requirements. We offer custom solutions tailored to benefit companies who have their own unique products and need unique solutions to enhance those products. Sourcing of our products and quality control are a top priority at SkyCloud. We only offer products that are Food or Lab grade quality, biologically or naturally sourced, safe for human consumption, and contain the industry quality standards such as ISO9001, GMP, Kosher, and other third party quality certifications. All products currently being offered are 100% legal and have no travel or shipping restrictions. Having multiple supply and manufacturing sources allows us to consistently provide large order quantities in very short time frames. Our focus on B2B and business solutions makes SkyCloud a great choice for any company in the market for Terpenes and product development to help grow their business.
About Majestic Group Holdings, Inc.
Majestic Group Holdings company was created to acquire and build a portfolio of some of the best companies in the Cannabis Market today. With demand rising, and the industry booming, legal marijuana operators and companies in the cannabis industry are racing to develop new products and services, acquire land and other assets to enable the enhancement of drastically increasing revenue streams and production capabilities. We bring the best management available to expand these companies to their maximum growth, and potential. Majestic has, and continues to acquire companies that will create tremendous synergies, bring additional revenue, and provide the greatest structure possible, so the Company can deliver the strongest values for their shareholders.
Safe Harbor Statement
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.