HOLLYWOOD, Fla., April 25, 2019 /PRNewswire/ -- Aluf Holdings, Inc. ("AHIX") ("the Company") (OTC PINK: AHIX) announces that it has launched Aluf CBD Partners LLC with an initial investment into the manufacturing and processing of CBD distillate in order to fulfill the growing client need in the CBD marketplace. CBD distillate is a THC-free, purified form of CBD.
CBD distillate is used in a variety of products such as supplements, topical creams, skincare, and even pet care. Based on market data and research, it is the most effective form of CBD used in wellness products. The hemp-CBD market is expected to reach $3 billion by the year 2020, following the recent passing of the 2018 Farm Bill legalizing CBD.
"The number one goal of Aluf is to build shareholder value through profitability. Although this initiative is outside the scope of our primary focus on "technology," the U.S. Cannabis market, including hemp-based derivatives and CBD, is projected to expand from $10 billion to $75 billion by 2030. Conservatively speaking, we are projecting average "blended" gross profits in excess of $18.5 million annually over the next five years," says Teresa McWilliams, Aluf's Chief Financial Officer and Interim President/CEO.
To further expand the Company's footprint in the CBD marketplace, Aluf has added Dr. Bob Capretto to their Board of Directors as an Adviser. Dr. Capretto is the Chairman of Solevo Wellness, a Pennsylvania-approved medical marijuana dispensary as well as a principal at the investment management group Oak Hill Holdings, LLC. "We are pleased to have Dr. Capretto's knowledge and experience available to the Board," said Ben Zandi, Vice Chairman of Aluf Holdings. "Dr. Capretto is a visionary and pioneer in the CBD industry and will add timeless insight and value to our CBD investment initiative."
About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded holding company whose core competency is to acquire, manage and propel "Next-Gen" technology companies into the future. Our core focus is the Biometric, Cybersecurity, Blockchain, and Software/Hardware verticals. For more www.aluf.com.
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Aluf Holdings, Inc.
Teresa McWilliams, Interim President/CEO
Chief Financial Officer
SOURCE Aluf Holdings, Inc.