Life On Earth, Inc. To Expand Into The Cannabis Market
7:00 AM ET 10/3/19 | GlobeNewswire
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Life On Earth, Inc. To Expand Into The Cannabis Market
Company To Focus On The B2C Segment Of The Industry
NEW YORK, Oct. 03, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Life On Earth, Inc. (OTCQB: LFER) (the "Company"), announces it will expand its business as a Consumer Packaged Goods (CPG) company into the business to consumer (B2C) space of the exploding cannabis marketplace. The Company believes having a direct relationship with consumers in the cannabis industry will allow it the best opportunity to leverage its brands such as Just Chill(R), which many experts have agreed lends itself perfectly for this segment of the consumer space. The Company will be making announcements soon regarding specific parties, from the cannabis industry, that have already been engaged, and that will join the Company's current management, its board of directors and advisory board to assist in this expansion. There are several company(ies) that have already been identified as possible targets in order to incorporate them into the Life On Earth's portfolio.
The Company's Chief Executive Officer, Fernando Oswaldo Leonzo stated, "As we approach the final stages of our divestures of our non-core assets, we believe this is the right time, since changing our name back in February of 2018, to pursue opportunities and commit ourselves to the cannabis space. We have finally paired down the non-branded beverage distribution operations and we believe that the timing to enter the cannabis industry, under the right circumstances, couldn't be better. Our number one priority is to increase shareholder value which we fully understand, that has not been reflected in the public markets. We also understand our Company, as a company in the business of building brand value, will have the best chance to do so, if there is a direct to consumer relationship, and entering the cannabis market in a B2C business model is the best way of doing that. Most importantly, we want to be able to do so in a profitable manner. We are now bringing onboard the legal, accounting, digital and social media marketing and regulatory expertise to help this Company enter that space successfully, and we will be making announcements of who those individuals are over the coming weeks."
The Company's President, Co-founder and fellow board member, John Romagosa, added to this statement, "We have just come back from speaking with our largest stakeholders as well as engaging several parties in California, the largest market in the cannabis space, for the purpose of preparing this company for acquisition opportunities, that are profitable as well as bringing the top and most competent operators in this space to allow the Company the best opportunity for success. We believe given the recent pullback or retrenchment in valuations for cannabis businesses, that are generating revenues as well as profits in this industry, it presents tremendous opportunities for companies like ours which wants to be a company that can build a strong brand presence within the cannabis market. We want all our stakeholders to understand that our goal is to bring shareholder value and we need to pursue the best opportunities that will do just that, and we see that within the cannabis industry. The timing is now."
About Life On Earth, Inc.
Life on Earth, Inc. is a lifestyle company focused on growing its portfolio of brands. The Company sells its products throughout the United States with third-party distributors, wholesalers and retailers. The Company owns, markets and distributes proprietary brands.
For more information, please visit our corporate website - www.lifeonearthinc.com
Investors and corporate inquiries, please contact: info@lifeonearthinc.com | (646) 844- 9897
Safe Harbor Act
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Life on Earth, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will, " "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company's
financing being adequate for the Company to place its products in retail stores, execute its acquisition strategy, and to launch its growth and expansion plans, among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Life on Earth, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Life on Earth, Inc.'s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Life on Earth, Inc.'s filings with the Securities and Exchange Commission at www.sec.gov.
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October 03, 2019 07:00 ET (11:00 GMT)
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