Business
CBD Life Sciences, Inc. (CBDL) Announces MOU With New York Dispensary, Poised for Significant Revenue Growth and Shareholder Value
CBD Life Sciences, Inc. (CBDL) Announces MOU With New York Dispensary, Poised for Significant Revenue Growth and Shareholder Value.
About this update from Cbd Life Sciences Inc.
[{"type":"text","content":"The targeted acquisition is estimated to have a business value of approximately $10 million and projected 2024 gross revenues of up to $4.5 millionSCOTTSDALE, AZ / ACCESSWIRE / August 29, 2024 / CBD Life Sciences, Inc. (OTC PINK:CBDL), a leading publicly traded company in the CBD industry, is pleased to announce the signing of a Memorandum of Understanding (MOU) with a prominent entity in the cannabis sector. This strategic agreement signifies a pivotal moment in CBD Life Sciences' ongoing efforts to expand its footprint in the burgeoning New York market.The MOU outlines the potential acquisition of a 45% ownership interest in a state-licensed Cannabis Dispensary located in New York. This dispensary, expected to be situated on Long Island, is positioned to become a key revenue generator for CBD Life Sciences. The acquisition, once finalized, is anticipated to unlock significant growth opportunities, further enhancing the company's presence and influence in the Northeast region."We are thrilled about the potential this MOU holds for CBD Life Sciences and our shareholders," said Lisa Nelson, President and CEO of CBD Life Sciences, Inc. "Securing a foothold in New York's dynamic cannabis market is a strategic move that aligns with our commitment to growth and delivering substantial returns to our investors. We are confident that this endeavor will drive considerable revenue growth and reinforce our leadership in the industry."As part of the agreement, CBD Life Sciences, Inc. will be entitled to a share of the monthly profits from the dispensary's operations, subject to the completion of necessary approvals and the finalization of a formal, binding agreement. This expected revenue stream is in line with the company's strategy to maximize investor value while pursuing long-term sustainable growth.CBD Life Sciences, Inc. continues to demonstrate its ability to leverage strategic partnerships and acquisitions to propel its business forward. This latest initiative is expected to solidify the company's competitive advantage and establish a strong presence in the lucrative New York cannabis market."We believe this strategic expansion will enhance our financial position and allow us to continue delivering consistent value to our shareholders," added Nelson. "Our mission remains clear: to expand our reach,...