Business
GDET Announces Completion of Inventory Stocking Phase for The Greenery with Delivery of New Line of Premium CBD Gummies
GDET Announces Completion of Inventory Stocking Phase for The Greenery with Delivery of New Line of Premium CBD Gummies.
About this update from Gd Entertainment & Technology, Inc.
[{"type":"text","content":"\n FORT LEE, NJ, Nov. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”), an emerging leader in the CBD, Blockchain, and Luxury Retail markets, is excited to announce receipt by its wholly-owned subsidiary, The Greenery (https://thegreeneryco.com), of a large delivery of its new line of branded CBD Gummies. This is the final delivery in establishing The Greenery’s initial product inventory before the launch of an aggressive distribution process. This delivery consists of 9,500 units of 10mg CBD Gummies for sale under The Greenery brand label. “We have amassed a very strong inventory of products now at The Greenery, and we are ready to focus on distribution and monetization going forward,” remarked Anil Idnani, CEO of GDET. “Our large inventory of CBD oil, tincture, salve, pet treats, masks, and our signature Honey Hemp infusion is all fully paid-for. The process of monetizing that inventory represents pure upside for shareholders going forward. Our Greenery segment is in a terrific position, which will allow us to be very aggressive in the weeks and months ahead.” Management believes that, along with topical skin products, gummies represent among the most accessible modes of delivery of CBD to the mainstream retail consumer market. The Company also strongly believes that mainstream consumer adoption of CBD products represents a tailwind set to push overall CBD sector growth in the quarters ahead. This view aligns with recently published research suggesting that the growth rate for the overall CBD-based products market is accelerating during the second half of 2019. According to research from MRFR, the global CBD market is estimated to register a CAGR of 125% from 2019 to 2026. The Brightfield Group joins in this appraisal, noting that 2019 alone is expected to show growth of over 900% as mainstream big-brand retailers – such as Kroger’s, Walgreens, Walmart, Rite-Aid, and others – begin to carry CBD products in plain sight of browsing consumers. Mr. Idnani continued, “The Greenery is positioned as a leadership play in a rapidly growing space. The overall CBD market continues to blow up, and we have targeted a branding and distribution strategy that will differentiate us from the herd as...