CBD of Denver, Inc. owner of the Black Pearl CBD and hemp products brand and of CBD Social Network, announced via press release service PR Newswire that it has reached an acquisition agreement with Swiss CBD retailer Royal Green GmbH. CBD of Denver Inc. offers a full spectrum CBD product that is not depending on THC to activate the cannabidiol. Black Pearl CBD has 0% THC, but it does not consist of an isolate stripped out of its psychoactive component. The company employs a proprietary procedure that adds terpenes as the activation ingredient, resulting in what the define one of the finest products in the industry.
The CEO of CBD of Denver Inc., Marcel Gamma, declares to be “very pleased to announce that CBD of Denver, Inc. just signed an acquisition agreement with Royal Green GmbH, our second acquisition. Royal Green currently operates a full-service CBD retail store. Their current revenues are approximately $600-700,000. The company is anticipating the opening of a new retail outlet in Zurich and their goal is to open 3-4 additional stores throughout Switzerland.” Royal Green also runs an e-commerce retail operation. CBD of Denver Inc. has involved Executive Industries, Inc. to complete ongoing financial filings and maintain compliance with OTC Markets. It also confirmed its collaboration with Jonathan D. Leinwand, P.A., a law firm experienced in CBD, cannabis, corporate and securities law.
With this 2nd acquisition, the company, alongside with its majority shareholder Swiss Industry Ventures, AG, is in a good position to eventually become the Swiss CBD market leaders. Switzerland is in a central and strategic location for the company, both for geographical and entrepreneurial reasons. On the one hand, Switzerland has always been the business and banking hub of the Europe. On the other, CBD of Denver Inc. is planning to enlarge its customer base rapidly by tackling the five EU countries that surround the Swiss borders.
Source: PR Newswire