Bowmo Inc (BOMO)

[doogdilinger]

Cruzani will be entering the functional beverage market with the acquisition of a popular vitamin enhanced water beverage. This will be the 1 st stage of their entry into the infused products market. The acquisition will be filed with the U.S. Securities and Exchange Commission with a FORM 8-K filing, later this week.

Cruzani is also exploring the feasibility of adding a reformulated version of the current beverage line, to include infused CBD which could be launched into various jurisdictions that require non-psychoactive CBD permitting and licensing to legally do so. Cannabidiol (CBD) is the part of the cannabis plant that doesn’t get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes. The CBD products are either derived from industrial hemp plants or marijuana plants. Hemp-derived CBD is currently legal in 46 states and The Hemp Business Journal has estimated hemp and CBD food, beverage, and cosmetics will grow to a $1.8 billion market by 2020.

CRUZANI’s CEO, Everett Dickson, commented: “This acquisition will add another dimension to our growing line of product offerings. We are thrilled to continue to expand our image to include enhanced beverage and products. We will continue to look for opportunities to grow this alongside our traditional business lines, which include nearly $7mm in assets and a growing revenue base. This infused vitamin water formulation has already been commercially available. Once the transaction is closed, we will look to “re-launch” it using new distribution channels. We have concluded negotiations on the terms, signed an LOI and are beginning to work on definitive agreements. We expect the transaction to fully close in the next 2-3 weeks.

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