ROCKLEDGE, Fla., Oct. 21, 2016 /PRNewswire/ -- PLAD, Inc. (OTC Pink: PLAD) announces it has acquired all of the membership interest in Elev8 Hemp LLC from Kona Gold Solutions, Inc. (OTC.PK:KGKG) in exchange for Two Hundred Thousand Dollars ($200,000), to be paid in a combination of stock and cash. As part of the transaction Mr. Scott Forsythe has resigned from all positions with the Company and Mr. Ryan Medico has become the new Chief Executive Officer as well as sole director.
Kona Gold Solutions, Inc. plans to issue its shareholders a dividend of stock received from the transaction.
"We are extremely excited about the sale of Elev8 and feel this could be a great opportunity for our shareholders to be vested in two fantastic companies," stated Robert Clark, CEO of Kona Gold Solutions, Inc. "Elev8 has a tremendous business plan in place and is ready to implement that plan. Following the transaction, we plan to issue our shareholders a dividend from the shares of the purchasing company used to purchase Elev8. Furthermore, this may help Elev8 obtain the funding necessary for its projected growth and launch of multiple exciting products."
"This is a huge step forward for Elev8. I would like to personally thank Kona Gold Solutions for all of their help and look forward to our continued partnership," stated Ryan Medico, CEO of PLAD, Inc. "Now that we are officially our own company, we hope to attract investors that can help with our rapid growth projections. We know that there is still a lot of work to be done but we hope to continue our growth to larger exchanges and use this momentum to propel us at a fast rate."
About Elev8 Hemp LLC:
Elev8 Hemp LLC is a newly formed company that plans to bring to market a new premium hemp seed coffee blend. Sipp Industries will be exclusively providing to Elev8 Hemp "proprietary hemp ingredients" for the development of their new hemp coffee brand. Elev8 Hemp Seed Coffee will be the result of the blending of roasted, organic hemp seeds with roasted, organic, Fair-trade Mexican coffee beans that produces a premium, delicious, full-flavored hemp seed coffee that does not leave a bitter after-taste.
Please visit, www.elve8hemp.com for more information.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
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SOURCE PLAD, Inc.