LAS VEGAS, April 15, 2020 /PRNewswire/ -- Boomer Holdings, Inc. (OTC: BOMH) ("Boomer"), a leading developer and omni-channel marketer and distributor of health and wellness products geared toward being a substitute for CBD, announced that the Financial Industry Regulatory Authority has approved a change in the Company's stock symbol on the OTC Markets to "BOMH". This followed a 20-day period during which the stock traded under "REMOD" after Boomer went public via a share exchange agreement as disclosed in the Form 8-K filed on February 25, 2020.
Mike Quaid, CEO, commented, "In alignment with the re-branding of our public entity, our new symbol better enables us to engage with our customers, while capitalizing off of a more global and sophisticated investor base as we pursue a national exchange listing. We believe that CB5, our unique and proprietary formulation, our highly streamlined supply chain, and increasing brand awareness, provides us with a clear path towards market share gains and high double-digit annual revenue growth. The exclusive co-branding partnership we announced on March 2 with Tommy Bahama is clearly reflective of these trends, and an indication of our ability to improve revenue mix to generate industry-leading gross margins of at least 75-80% as a result."
Despite the onset of COVID-19 domestically and globally, Boomer maintains its previously announced revenue run-rate guidance of $35-45 million and cash flow break-even by the end of 2020. This is based on management's observation that a slowdown at traditional retail will likely continue to be offset by greater volume via e-commerce thanks to uninterrupted marketing initiatives coupled with a more diversified product offering tailored to meet the near-term needs of end customers. Boomer sees revenue doubling year over year in 2021 and 2022, while continuing to stress R&D and address key trends within the overall health, wellness and cannabis ecosystems.
About Boomer Holdings, Inc.
Boomer Holdings, Inc., (OTC:BOMH) www.boomernaturals.com, is a leading developer and omni-channel marketer, distributor and retailer of a proprietary line of wellness products that are infused with a proprietary and patent pending formulation called CB5, among other proprietary formulas currently progressing through R&D. Boomer partners with a multitude of participants in the sports, health and wellness, beauty, skin care, branded consumer and retail sectors to produce and deliver innovative products targeting both the baby boomer and pet markets. All products are third-party lab tested by batch run and all ingredients are Generally Recognized as Safe by the FDA.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"), which may cause the actual results, performance or achievements of Boomer to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
SOURCE Boomer Holdings, Inc.