DVLP Enters Formal Negotiations to Acquire CBD Oil Company Featuring 300% YTD Sales Growth
AUSTIN, TX, October 11, 2018 -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the
“Company”), an emerging leader in the Cannabis and CBD marketplace, is excited to announce that it
has begun formal negotiations with the intention of acquiring a premier CBD Oil company (the
“Acquisition Target”) to be identified in an ensuing press release.
“We have been pursuing this type of deal – either a full acquisition or a strong joint venture partnership –
with a compatible company in the CBD and Cannabis space,” stated Stavros Triant, DVLP CEO. “We
believe we have found our perfect match, and we are attempting to get this deal in place.”
While the Company is unable to release the name of the Acquisition Target at this time, several details
have been approved for this communication. The Acquisition Target is a rapidly growing fully-commercial
entity in the CBD Products market that:
Currently generates annualized monthly sales of CBD and CDB Products in excess of $5 million
Has a year-to-date sales growth rate in excess of 300%
Actively markets and sells premium-grade edible CBD food products, skin creams, distillates,
tinctures, vape oil, and Pure CBD Isolate
Markets products derived from Hemp-based CBD, which is currently legal in all 50 US states
Is profitable on an operating basis
Represents a synergistic fit with DVLP existing portfolio companies
Management points to new research from cannabis industry analysts at the Brightfield Group predicting
the hemp-CBD market alone could reach $22 billion by 2022, representing more than 3,600% growth
over the next four years. In 2015, the market for consumer sales of hemp-derived CBD products was $90
million. Total CBD sales will hit $591 million in 2018, according to a study published in Rolling Stone last
month.
Reduced stigma, legislative changes, and a more widespread awareness of the health and wellness
benefits of CBD appear to be fostering an acceleration of this exponential growth curve.
Mr. Triant continued, “The CBD marketplace is experiencing scaling growth that represents a truly historic
boom of epic proportions. And experts only expect growth to accelerate over coming years. While we are
only in the negotiation stage of this acquisition opportunity, if we can nail down terms and complete this
deal, we feel it has the potential to position the Company as a powerhouse player in that boom. And we
look forward to updating shareholders as soon as possible as the process unfolds.”
DVLP currently has two portfolio companies, www.wheresweed.com (wholly-owned) and
www.puravidavitamins.com (joint venture partnership).
About Where's Weed
Where's Weed is an American cannabis technology company known for connecting medical and
recreational cannabis users with trusted local marijuana businesses in their communities.
W
here's Weed
was founded in 2011. The company launched the Where's Weed Android app in 2014 and released the
iOS version in 2015.
About Golden Developing Solutions, Inc.
