CHEYENNE, Wyo., Nov. 30, 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, is pleased to announce the signing of a Joint Venture agreement (JV) with nationally recognized hemp energy shot brand, DuBe®. The agreement instantly adds significant revenue and cash flow to FBEC Worldwide, Inc. and gives the Company four more products to add to their portfolio.
The Joint Venture partnership will cross market and distribute all WolfShot™ and DuBe® products. Sales revenue will be consolidated through the new entity majority owned by FBEC Worldwide, Inc. The JV will also work closely with FBEC Worldwide's Scientific Advisory team to develop and bring to market additional hemp, CBD, and cannabis related products.
DuBe® already has a strong, national distribution network placing their hemp infused energy shot in 12 states. The company expects to sell about 1,300,000 units of their 2 ounce energy shot and realize approximately $2,000,000 in total sales revenue from all products for 2015. The JV will utilize the existing distribution network to increase sales of WolfShot™ while working towards developing new distribution pipelines for both brands and create stand alone brands jointly.
In addition to the energy shot, DuBe® brings sales of a hemp infused lip balm, CBD vaporizers, and natural hemp rolling papers to the JV. The two companies are already in talks for future products including coffee, teas, power bars, and infused liquor products.
The Company will also leverage DuBe's® relationship with legal marijuana grow Green Cross of America in Nevada to develop THC and CBD versions of DuBe® & WolfShot™ products.
CEO Jason Spatafora said, "Our joint venture with DuBe® is a key component to the long term strategy for FBEC Worldwide Inc. Their team, network and ability to execute on both sides of the Hemp & Cannabis markets distinguishes them amongst their industry peers. Jointly, we feel that can expedite the process of expansion in a way that should expand our revenue streams, solidifying our place among both public & private companies within the Hemp & Cannabis space. We couldn't be more pleased with this Joint venture with DuBe® and our partnership with CBD Globe which we announced just two weeks ago. Shareholders should be very excited as we go into what will surely be an electric 2016 year for the entire Hemp and Cannabis space nationwide."
DuBe's® vision of quality and relevance birthed a desire to create an elite brand that will evolve and thrive as the cannabis movement (legalization) transitions from its infancy stage of public adoption into a way of life, while also overcoming barriers of perception and instead promote the many benefits of cannabis & Hemp products.
DuBe's® goal is to be recognized as a one-of-a-kind lifestyle brand with a reputation for quality product lines, management and operations in the hemp, cannabis and active lifestyle industries. The company offers quality products at competitive prices that will exceed all expectations, surpassing its competitors by being the brand of choice based on its commitment to quality. DuBe® will define the industry's standard for "best practices" in all areas of operations to insure longevity, simultaneously improving on their already excellent relationships industry wide.
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.
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.