Business
Eco-Growth Strategies Announces Letter of Intent to Acquire Specialty CBD Company
Eco-Growth Strategies Announces Letter of Intent to Acquire Specialty CBD Company.
About this update from Eco-growth Strategies Inc.
[{"type":"text","content":"Adds to its Growing list of AssetsSACRAMENTO, CA / ACCESSWIRE / January 28, 2020 / Eco-Growth Strategies, f/k/a Falcon Technologies, Inc. (the "Company" or "Eco-Growth Strategies") (OTC PINK:ECGS), a nutraceutical company developing a variety of premium CBD-based products specializing in sourcing and extraction of trusted North American hemp, today announced that the company has formally entered into a Letter of Intent (LOI) to acquire an ultra-premium hemp-based CBD company that focuses on athletes, fitness minded individuals as well as the general population. The handcrafted catalog of products contains no THC and are produced with the highest quality CBD. The ultra-premium hemp-based CBD company has projected 150% YoY growth, 70% repeat customer rate and has generated $354,000 of revenue in the last fourteen months. The acquisition will be folded into the already existing assets of Eco-Growth Strategies."While terms are still being finalized, we cannot offer many specifics, but we are excited to formally acquire a company that has firmly established a niche within the CBD space. Adding a quality, revenue generating asset to our organization is in-line with our business model that involves a bolt on strategy for existing companies that we feel benefit Eco-Growth's business channel within the CBD industry, says William Delgado, Chairman and CEO of Eco-Growth Strategies. While we intend to grow a portion of our company organically, we will seize opportunities like this when they make sense," added Delgado."We feel the synergies between the two companies will create an even larger presence for Eco-Growth and its subsidiaries, but more importantly, increase both the awareness in quality of our CBD products and create a competitive advantage within the massive non-THC cannabinoids with major focus on the CBD segment. It takes our company one step closer towards streamlining vertical integration." says Alan Lien,, President of XTRACTIONONE PLUS.The company intends to provide specific information upon the company formally closing the sale in the future.About Eco-Growth Strategies, Inc. A/K/A Falcon Technologies, Inc.Eco-Growth Strategies, Inc. is a nutraceutical and processing company developing a range of CBD-based products. The company's mission is to employ best practice science to s...