Business
Alternate Health to Acquire Leading American CBD Manufacturer
Alternate Health to Acquire Leading American CBD Manufacturer.
About this update from Alternate Health Corp
[{"type":"text","content":"ALTERNATE HEALTH TO ACQUIRE LEADING AMERICAN CBD MANUFACTURERTORONTO – October 30, 2019 – Alternate Health Corp., (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD product development and distribution, announced today that the Company has signed an agreement (the “Agreement”) to acquire 51% of Mr. Custom White Label, LLC, (“MCWL”), a California-based white label / private label manufacturer of hemp-derived CBD products.“In this acquisition, Alternate Health is securing a leading position in the global hemp-derived CBD industry,” says Howard Mann, CEO of Alternate Health. “As state governments strengthen CBD regulations, we see a tremendous opportunity in manufacturing our hemp-derived products in FDA-registered and cGMP-certified facilities.”Mr. Custom White Label – At the forefront of CBD private labelling.As California’s premier white label / private labelling company, MCWL uses pharmaceutical-grade equipment in its state-of-the-art, cGMP facility in greater Los Angeles. MCWL manufactures over 200 product SKUs, including hemp gummies, sublingual tinctures, bath bombs, lotions, chocolate bars, soft gels, hand soaps, lip balms, and transdermal patches. A full product list can be found at www.mrcustomwhitelabel.com/“We are excited to merge Alternate Health’s pharmaceutical experience and know-how into our advanced CBD manufacturing business,” says Bob White and Ese Roberts, Founders of MCWL. “Together, we are creating a best-in-class CBD company, with a level of expertise, production capacity, and commercial networks few competitors can match.”Strategic Plan and Growth StrategyAlternate Health’s strategic plan is to combine MCWL’s operations and the Company’s Blaine Labs subsidiary into the world’s first fully vertically integrated hemp-based CBD manufacturer and distributor. The Company aims to garner a dominant role in worldwide direct-to-consumer sales and retail distribution of CBD products made in accordance with FDA standards. Alternate Health will seek to extend its FDA-registered, drug manufacturing license to include MCWL’s cGMP facilities.State governments from California to Florida are currently drafting and finalizing new CBD regulations that will require all CBD manufacturing practices be done according to established FDA and cGMP standards. Moving forward, it is essent...