HICKSVILLE, NY – August 19, 2021 – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company specializing in the development, production and sale of products containing hemp derived cannabinoids, is pleased to announce its acquisition of assets from Music City Botanicals, based in Mcminville, Tennessee. The lab and equipment will be used for isomer (Delta-8- CBD- CBG) operations.
This acquisition, along with the previously announced TCW Pharma acquisition, will make the Can B one of the largest producers of CBD and pharmaceutical grade health and wellness products in North America. IS THIS TRUE? The addition of Music City Botanicals adds additional volume in extraction, isomer lab production, and new genetics in the premium flower market. New retail products will include pharmaceutical grade CBD and related materials. In-house labeling and packaging will create a chain of custody process that is unmatched in the industry.
Music City Botanicals is a complete “seed-to-shelf” producer of high-quality CBD products using in-house extraction, distillation, isolate production and final product fulfillment to complete a vertical chain of custody that gives complete confidence in all its products. Music City Botanicals has over 100 years of experience in a world class team of operators, scientist, and salesmen. All Music City Botanical products are manufactured under Good Management Practices, ISO 9000 certification, Kosher and Halal approved and blessed, and FDA registered practices. All products are tested by primary and third-party labs that generate accuracy that is unmatched by competitors. The teams experience in compliance to the industry will give confidence in a market that has been plagued by non-regulation in labeling and packaging.
The transaction is valued at over $_ million for processing and extraction assets encompassing equipment and a 50,000 square feet lab building in Mcminville, Tennessee. The lab is twice the size of Can B’s Miami operation and has the capacity to produce 600 liters of Delta 8 and other isomers per week.
Marco Alfonsi, Can B’s Chief Executive Officer, commented, “This acquisition brings us additional complementary assets that enable us to control our supply chain from biomass through end products for both retail and wholesale customers. Our previously announced acquisition of TCW Pharma assets will feed this isomer operation and provide us cost synergies and scale as we will control the entire supply chain. Can B is now a full-service hemp and CBD company that can facilitate servicing the large box types as well as the boutique vape and smoke store.”
As part of the asset acquisition, Can B maintains all of the intellectual property including the branding name and retail product. Additionally, Can B acquired a talent pool of seasoned professionals including a sales force in isomer products across the county. The pharmaceutical space will be an important part of the unique formulations that are available within the experienced laboratory staff. The dedicated and knowledgeable employee base covers Miami, Tennessee, Colorado and Washington.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a Health & Wellness company providing the highest quality hemp derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates R&D and production facility in Lacey, WA and Florida. To learn more about Can B Corp. and our comprehensive line of high quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
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Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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SOURCE: Can B Corp
