CARLSBAD, Calif., Dec. 21, 2018 /PRNewswire/ -- Radiant Creations Group (RCGP) announced today that it has entered into an agreement to acquire 100% of the outstanding shares of NEWYOU, LLC. in exchange for common shares of RCGP. The transaction has been unanimously approved by the Boards of Directors of both companies. NEWYOU, LLC. (newyounow.com) is a leading marketer and distributor of premium CBD products led by founder and CEO Ray Grimm Jr., one of the world's most widely recognized CBD experts. Ray is a veteran entrepreneur with more than a quarter century experience building some of the top nutritional and weight loss companies in Direct Sales history. This strategic acquisition provides RCGP with an opportunity to increase market share, expand into new areas and tap into growing sectors like those occurring in the hemp-CBD space.
"We are delighted for the merger of these two organizations," CEO Ray Grimm said. "The CBD market in the U.S is growing exponentially. According to cannabis industry analysts the Brightfield Group, the U.S. hemp-derived CBD market has nearly doubled in size between 2017 and 2018, and a new estimate indicates the hemp-CBD market alone could hit $22 billion by 2022. Timing and growth couldn't be better for us and we are moving rapidly to take advantage of the momentum."
In the last few weeks, the growth of the hemp-CBD market saw a major boost with the official passage of the long-awaited 2018 Farm Bill, which legalized industrial hemp—cannabis that contains less than .03% THC. The removal of hemp from the controlled substances list is a victory for farmers, enthusiasts and the growing number of companies in the hemp-CBD marketplace.
Details regarding any further new business models and/or acquisition for the Company will be disclosed when implemented.
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SOURCE Radiant Creations Group