Makers of post-workout health products join award-winning cannabis company, opening doors nationwide to reach millions of new consumers
SALINAS, Calif., June 12, 2019 /PRNewswire/ -- California cannabis leader Indus Holdings, Inc. ("Indus") (CSE:INDS) today announced that it has acquired 70% of the issued and outstanding shares of Shredibles LLC ("Shredibles") in exchange for subordinate voting shares of Indus Holdings, Inc. The total transaction is valued at $240,000, based on the closing price of the Company's subordinate voting shares on June 11, 2019.
Shredibles, one of the first protein bars to infuse CBD oil with all-natural, vegan-friendly ingredients, are a handmade, healthy, post-workout alternative. Individual bars are infused with 20mg of CBD and are available in White Chocolate Macadamia, Peanut Butter Crunch, and Dark Chocolate Blueberry Almond flavors.
Shredibles bars are popular beyond the traditional CBD-based retail market and are currently available in select gyms, yoga studios, grocery, and health stores. Additionally, several notable athletes and artists have begun partnering with Shredibles through sponsorship and brand ambassador relationships.
"Our goal has long been to create a healthy recovery snack that pushes the boundaries of what's possible with CBD," explains Co-Founder and Chief Executive Officer Roddy Hanson. "We felt an instant synergy after our first meeting with the Indus team, and the partnership will allow us to realize our vision for Shredibles," adds Matt Callans, co-founder and chief operating officer.
Since its founding in 2014, Indus Holdings, Inc. has been expanding its product offerings, adding cutting-edge, CBD-based health and beauty brands to its portfolio of owned and licensed products, which includes Original Pot Co., MOON, Orchid Essentials, Humble Flowers Co., and Dixie Elixirs and Edibles.
"The CBD market is one of the fastest-growing segments of our industry because of people like Matt and Roddy, who have shown what's possible when it is applied for health and wellness purposes," says Indus Holdings, Inc. Co-Founder and Chief Executive Officer Robert Weakley. "This acquisition will allow us to expand our CBD footprint, opening doors nationwide and helping us reach millions of new consumers.
"We're proud to work with leaders who believe in expanding possibilities, and this acquisition has the potential to be a game-changing partnership for all of us."
ABOUT INDUS HOLDINGS, INC.
Indus Holdings, Inc. (CSE:INDS) is a vertically-integrated cannabis company with advanced production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. Founded in 2014 by hospitality veteran Robert Weakley and based in Salinas, California, Indus offers services supporting every step of the supply chain and an extensive portfolio of award-winning brands, including House Weed, The Original Pot Co., MOON, Acme, Beboe, Dixie Elixirs & Edibles, and Orchid Essentials. Indus Distribution, a division of Indus Holdings, Inc., is a leading distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers.
Shredibles is a line of handmade CBD infused all-natural and vegan-friendly protein bars. Created by longtime friends Matt Callans and Roddy Hanson, Shredibles combines vegan nutrition with broad spectrum, hemp-derived CBD oil – fully embracing the healing properties of the cannabis plant to create a healthy, great tasting post-workout snack. Available throughout the United States and endorsed by numerous athletes and artists, Shredibles represents a bold new approach to recovery. Shredibles products are available for purchase in-store and online. More information can be found at shrediblescbd.com.
FORWARD-LOOKING INFORMATION AND STATEMENTS
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Indus' beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Indus' control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved." The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, Indus is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Indus to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Indus has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the potential impact of the consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the receipt of applicable regulatory approvals. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although Indus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Indus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Indus or persons acting on its behalf are expressly qualified in its entirety by this notice.
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SOURCE Indus Holdings, Inc.