Business
Elev8 Brands, Inc. Reports Continued Growth In Q2
Elev8 Brands, Inc. Reports Continued Growth In Q2.
About this update from Branded Legacy Inc.
[{"type":"text","content":"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 cu...