Business Wire 14-Jan-2019 8:00 AM
Level Brands, Inc. (NYSE:LEVB, the "Company")): Kathy Ireland, CEO of kathy ireland Worldwide and Chairman Emeritus and Chief Brand Strategist of Level Brands, commented on the recent acquisition completion by the Company of the nationally recognized consumer brand cbdMD.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190114005223/en/
"Over a year ago, we began to lead our efforts at Level Brands into the CBD business, through our kathy ireland Health & Wellness licensing unit. Since that time, we have learned a tremendous amount about CBD and the potential positive health benefits of this compound. In December, the Farm Bill was approved, and CBD is no longer listed as a Schedule 1 controlled substance. We believe the CBD market will dramatically and exponentially expand. With this incredible opportunity before us, we moved forward into the CBD industry and purchased cbdMD, a premier and nationally recognized, consumer CBD brand. Brand building is complex, rewarding and extraordinarily hard work, particularly in an industry which is so misunderstood by the very people we seek to help. We welcome Scott Coffman to our Board and Caryn Dunayer as President of cbdMD. Scott and Caryn, our innovative leaders, have done that extraordinarily hard work and continue to lead our company in powerful ways. We encourage everyone, including media and customers, to please visit and experience our ecommerce website at www.cbdMD.com, and purchase any of our wonderful products which are currently available at more than 700 retail locations nationwide. We are very proud that cbdMD manufactures its premium line of products at a North Carolina facility, using 100%, all-natural CBD extracted from organic, non-GMO, vegan, and gluten-free industrial hemp grown in the USA. We have a special place in our hearts for North Carolina. kathy ireland Worldwide was launched in this great state over 25 years ago with the Moretz family of Hickory, North Carolina, who continue as our partners today. With the acquisition of cbdMD, we believe Level Brands now becomes one of the leading CBD consumer companies in America. The cbdMD brand is showing consistent month-over-month double-digit growth rates and, with our available capital, we believe we can significantly accelerate awareness, revenue growth and implement an aggressive expansion and brand positioning plan which we believe will yield continued significant growth rates. We believe cbdMD will continue to gain significant market share in this growing industry. Our goal is to make cbdMD the #1 consumer CBD brand globally", said Ms. Ireland.
Historic information on cbdMD's products can be found in the presentations furnished in a Current Report on Form 8-K as filed by Level Brands on December 21, 2018 https://www.sec.gov/Archives/edgar/data/1644903/000165495418014196/0001654954-18-014196-index.htm
About Level Brands
Level Brands is an innovative brand management and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses. Level Brands owns and operates the nationally recognized consumer cannabidiol (CBD) brand cbdMD, whose current products include CBD gummies, CBD tinctures, CBD topical, CBD bath bombs, CBD oils, and CBD pet products. The Company's primary licensing and corporate brand management businesses target consumer products in the health and wellness space and other high-demand verticals, bringing innovative products to market under the kathyireland® Health & Wellness; Ireland Men One (I'M1), and Encore Endeavor One (EE1) brands.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the expansion of the consumer market for CBD products and our ability to increase cbdMD's market share post-closing, among others. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in Level Brands, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2018 as filed with the Securities and Exchange Commission (the "SEC") on December 12, 2018 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Level Brands, Inc. and are difficult to predict. Level Brands, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.
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