Business
Rocky Mountain High Brands Announces Updates
Rocky Mountain High Brands Announces Updates.
About this update from Rocky Mountain High Brands, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Rocky Mountain High Brands Announces Updates\r\n \r\n \r\n\r\n\r\nRocky Mountain High Brands Announces Updates\r\n\r\n\r\n\r\n\r\n\r\nDALLAS, June 24, 2025 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTC: RMHB) announced today updates on personnel changes and a disputed lawsuit by former landlord. The Company’s February 14, 2025 press release referenced a variety of personnel changes to occur in the near future. They are as follows: \r\n As of June 2025, David Seeberger resigned as Director & CEO\r\n As of June 2025, Imran Kaiser resigned as Director & VP\r\n As of June 2025, Winn Morrison resigned as Director\r\n At the present time, the turnaround team is performing these duties to keep the G&A cost at a minimum. The team is working with two potential new Directors with strong, successful financial and business backgrounds. They are current investors, having invested several million dollars in the Company. Dispute with owner of facility previously leased by RMHB: Early in the second quarter of 2025, the team determined it was in the best interests of the Company to make every effort to focus on settling the heavily disputed lawsuit with their former landlord. After making this issue the top priority, we are pleased to announce a settlement has been reached including the filing of papers releasing RMHB of all claims. This extended and exhausting effort was funded in full by existing investors taking stock in exchange for payment versus increasing the Company’s debt. Restructure through company friendly investment: RMHB’s restructure is underway with new capital totaling over $400,000 coming in during the first and second quarters of 2025 designated for wholly owned subsidiary Rocky Mountain NexBev. One of the main members of the turnaround team loaned the Company over $300,000 that will be converted to Paid In Capital in the second quarter of 2025. Moving forward: Rocky Mountain NexBev is the copacker and distribution center for product the turnaround team has decided to move forward with. After making the determination to delay the launch of these products to eliminate the distraction of the formerly impending lawsuit from the previous facility, the Company chose to put its brands and private label customer products in production during the third quarter of this yea...