Before the opening bell, Laguna Blends, Inc. (OTC: LAGBF) issued a news release recapping some of its recent milestones related to its planned entry into the $121 billion global skin care industry. The most recently announced milestone related to this goal was the company’s entry into a non-binding letter of intent to acquire the exclusive license brand name and existing inventory of CannaCeuticals of California, USA (“Canna”), which was originally announced in a news release issued on July 7. Under the terms of this agreement, Laguna will receive an exclusive license to sell Canna’s cannabidiol (CBD) skin care products in the United States and Canada for an initial period of two years, with license and marketing rights extending to Asia, Europe and Mexico, subject to Canna receiving regulatory approval in those markets.
Upon closing of this transaction, Laguna plans to leverage its rapidly-expanding affiliate marketing network to sell Canna’s innovative products in North America. The addition of the skin care products would offer entry into a sizable international industry while also building on the company’s existing presence in the functional beverage space. Just last month, Laguna gave prospective investors some insight into the strong growth of its affiliate marketing network when it announced the generation of $105,000 in unaudited sales during the 11-week period ended May 31, 2016. In addition to exceeding internal sales goals, a high reorder rate reiterated the positive product experience and strong demand that exists for Laguna’s two hemp-based functional beverage products, according to company president Ray Grimm Jr.
The addition of Canna’s CBD face serum to the company’s affiliate marketing network is expected to play a key role in Laguna’s ability to promote sustainable growth moving forward. In a recent clinical trial studying the efficacy of the serum, 100 percent of test subjects reported an overall improvement to the appearance of skin within 14 days. Of those, 85.71 percent noticed an improvement during the first week. Look for the company to lean on these findings while continuing to promote heightened brand exposure following the anticipated finalization of the manufacturing and exclusive license agreement with Canna.
“The momentum we have gained in the last 30 days is testament to our commitment to the Laguna Blends brand, our affiliates, and our shareholders,” Grimm concluded in this morning’s news release. “The achievements noted above cast significant light on the high-potential future of Laguna Blends, as well as our ability to rapidly yet successfully execute an aggressive growth strategy. With regard to our negotiations with Canna, we have a lot more potential and milestones on deck, and we look forward to updating our shareholders in the near future.”
For more information, visit www.lagunablends.com
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