$LAGBF Mr. Ray Grimm Jr., President of Laguna Blends Inc., stated, "Over the past three weeks Laguna has sent samples of the Cannaceutical skin care products to some select affiliates and within 3-7 days we received some overwhelmingly positive feedback. Women are noticing changes in skin texture and skin tone and are eager for the skin care line to become available for purchase. Our goal is to have this product available before the end of September 2016."
Per the agreement, Laguna will pay a one-time license fee of $100,000 US. Additionally, during the first two years of the initial term, Laguna will place a minimum purchase order of $1.5 million US of product priced at wholesale.
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