Green Hygienics Holdings Inc. Announces LOI for the Acquisition of Bohemian Beverage Co.
SAN DIEGO, April 23, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ("Green Hygienics" or the "Company"), a company focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids, is very excited to announce it has entered into a letter of intent (the "LOI") to acquire Bohemian Beverage Co.
Bohemian Beverage Co. is a profitable, revenue-generating entity with an extraordinary brand portfolio of more than 20 unique beverage brands, including CBD-infused teas, ginger ale, beers, ciders, cocktails and more, which are directly distributed and sold through the company’s own subsidiary storefront. The company was also the very first brewery, cidery, distillery and manufacturer of CBD beverages in the state of Virginia. By creating stylish, youthful, sexy branding, promoted by skillful marketing through social media and successful event planning, they have sustained interaction, engagement and participation from their target market.
The current demand for Bohemian Beverage Co. products is outpacing the current production capabilities. To meet the growth, the next step in their expansion is to build a state-of-the-art production facility that has the capability and licencing to produce beer, distilled spirits, cider, wine, CBD-infused and nonalcoholic beverages. This serves to leverage both existing and new distribution networks to grow current brands and expand upon brands in development. As part of this transaction, Green Hygienics will invest in the construction of a larger bottling facility, “The Grove Brewery,” that is combined with a farmers’ market on a 5-acre land parcel ideally situated on Portsmouth Boulevard in Chesapeake, Virginia. Virginia became the first Southern state to legalize marijuana just two weeks ago, as lawmakers voted to approve Gov. Ralph Northam's proposed changes to a bill that will allow adult cannabis use starting in July 2021.
“The beverage sector is very competitive and there is a steep learning curve. This strategic acquisition will allow us to enter the CBD-infused drink market supported by expertise and existing distribution while mitigating risk, and more significantly will bring immediate revenue and hard assets to our financials. When you compare this brand portfolio to any of the large marketers in the space, it quickly becomes evident what extraordinary potential exists in this opportunity,” stated Ron Loudoun, CEO of Green Hygienics. “Consider the margins in this business model where you create, manufacture, retail (at your own facility) and distribute, as well! We are very excited about entering this lucrative market and launching our beverage division in such a sensible manner. Green Hygienics can provide a strategic advantage in the marketplace by introducing novel cannabinoids and targeted bio-delivery technologies to the formulations. The Bohemian Beverage Co. team has laid the foundation for something fantastic. We look forward to working with them and taking this to the next level.”
About Bohemian Beverage Co.
We brew and we brand, and we’re socially unconventional. Bohemian Beverage Co. is a beer and libations think tank and hatchery. We produce our own industry-disrupting potables while lending our brewing and branding services to like-minded creators. We’re fueled by the beverage market’s constant innovation. Our team of industry experts is always scanning for unchartered waters, allowing us to sit at the forefront of trends and developments. We’re a passionate crew who deliver high-quality products to human beings everywhere.
About Green Hygienics Holdings Inc.
Green Hygienic Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is a California-based innovative, technology-driven enterprise focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids.
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