Business
iBrands Corporation Address To Shareholders
iBrands Corporation Address To Shareholders.
About this update from I Brands Corp
[{"type":"text","content":"\n LAS VEGAS, Jan. 28, 2020 (GLOBE NEWSWIRE) -- iBrands Corporation (OTC: IBRC) (“the Company”), a diversified holding and branding company, announces its letter to shareholders. Dear Shareholders, I am pleased to report that we've been able to generate positive momentum in 2019 and beginning in 2020. We believe that with the rollout of iBrands Farms agribusiness, BudCube Cultivation Systems technologies, and additional solid niche opportunities within the industrial hemp and cannabis sector and beyond, we are now poised to make substantial progress this year which will further enhance value for our shareholders. Corporate Updates: OTC MarketsThe company recently has updated current information with OTC Markets and is in the process of having Caveat Emptor symbol removed from OTC Markets Website. Share Structure Reverse SplitThe company will not be effectuating a reverse split at this time. The company will only entertain this action out of necessity or in the event of uplisting to a senior exchange. AS ReductionThe company is in the process of reducing the amount of authorized shares of the company to a more conservative level to inspire confidence for investors and our shareholders. Share BuybackThe company is currently under contract to acquire 11,847,000,000 shares of the company's outstanding common stock. iBrands Farms AgribusinessThe company has launched a new online store, iBrands Farms. iBrands Farms has over 40 retail industrial hemp derived CBD products ranging from smokables, isolate by the ounce, topicals, edibles, and dog treats. The 2019 Hemp & CBD Industry Factbook says CBD retail sales in the U.S. may eclipse $10 billion by 2024. “The recent surge of consumer demand for CBD, coupled with increasingly easy access to CBD products, is expected to drive retail sales to about $1.1 billion-$1.3 billion in 2019,” said Kristen Nichols, editor of the Second Annual Hemp & CBD Industry Factbook. “We project retail CBD sales will increase to $10.3 billion by 2024, a five-year compound annual growth rate of 54%.” Therapeutic Solutions Inc. Master Sales Agreement The company has entered into a Master Sales Agreement with Therapeutic Solutions Inc. to distribute the nutraceutical line of products developed by TSOI for sales through its iBrands Farms subsidiary. Products to be include...