CHEYENNE, Wyo., Nov. 16, 2015 /PRNewswire/ -- FBEC Worldwide, Inc. (OTCQB: FBEC), a beverage company with intellectual property formulas and marketing capability for the production and distribution of proprietary beverages, announces the signing and execution of a Joint Venture agreement with CBD Globe Distributors Ltd. FBEC Worldwide, Inc. will own 50.1% of the newly formed Joint Venture LLC and receive 50% of the net profit from its operations.
CBD Globe brings an ultra-high-end CBD product known as the Ma brand and an established distribution network in the United Kingdom and areas throughout Europe. CBD Globe has invested over $200,000 in production and development of the Ma brand and already has 10,000 units packaged and ready for sale. The CBD vaping product has a highly refined CBD oil made from hemp grown in the United States.
The purpose of the JV is to create a strategic alliance between the brands currently held by the two parties, respectively in an effort to lend support in a multitude of areas and consolidate businesses in the cannabis and hemp industry. FBEC Worldwide, Inc. will provide order fulfillment, manage online sales and marketing, and establish distribution channels in the United States for the Ma brand while receiving 50% of net sales.
CBD Globe will manage distribution, marketing and sales of the Ma brand in Europe while providing FBEC Worldwide, Inc. access to existing and future distribution networks in Europe. FBEC Worldwide, Inc. will utilize such distribution networks to increase sales of its flagship product, WolfShot™.
The Joint Venture agreement is an exclusive one. Each party is under an obligation to submit opportunities related to the Ma brand to the Joint Venture LLC. The two parties will also work jointly to develop and bring to market additional products in the hemp, CBD, and cannabis space.
CEO Jason Spatafora said, "Executing this Joint Venture enters FBEC Worldwide, Inc. into the rapidly expanding CBD industry. I have been searching for the best way to cost effectively capitalize on this growing market and CBD Globe Distributors offers a turnkey operation built around their ultra-high-end CBD Ma brand. I couldn't be more excited to work with a company with such a high quality product."
Spatafora continued, "CBD Globe gives us a presence in Europe to compliment distribution agreements we are currently working on finalizing in the United States and Canada. The Joint Venture not only brings a second revenue source to FBEC Worldwide, Inc. but also provides a more extensive retail consumer base for us to introduce more products in the hemp, CBD and cannabis space."
A representative of CBD Globe Distributors Ltd. said, "As Europe and the world watch the United States pave the way in the Cannabis space, CBD Globe's mission is to find and bring the best and most unique products and technology to Europe. Ma is the first of many products that was developed with American knowhow for the European and U.S. markets. Ma is the highest grade CBD Vape oil equipped with the highest quality glass vaporizing unit. With the addition of WolfShot™ energy shots, we can now also offer a top selling hemp energy shot as another best U.S. brand to make it to Europe."
About FBEC Worldwide, Inc.
FBEC Worldwide is an innovative beverage company dedicated to offering proprietary products focused towards significant target markets, both domestic and abroad. We are committed to increasing our market size and scope through the optics of creative marketing and most importantly customer satisfaction. Our growth strategies will focus on a number of major initiatives including, unique branding opportunities that will be targeted at key demographic groups, and to develop strong community and distributor relationships.
As we look ahead, FBEC Worldwide will develop and build name brands focused on strong rates of growth within key fundamental consumer groups. Our company is dedicated to becoming a leading developer of name brand beverage alternatives geared specifically towards large, significantly important demographics within major markets.
About CBD Globe Distributors Ltd.
London based CBD Globe Distributors Ltd (CBDG), creator and owner of the Ma brand, is a focused and energetic young business. The company's objective is to distribute CBD based products as rapidly and widely as possible, across Europe and overseas using the Ma brand as the prestigious messenger. Firm believers in CBD and the health benefits and integrity of this remarkable product, CBDG's mission is to expand their range across all categories and to work with the most advanced market leaders in this field.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
SOURCE FBEC Worldwide, Inc.