Aluf Holdings Inc (AHIX)

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Aluf Holdings, Inc. Launches Hemp CBD Subsidiary, Makes Initial Investment In Processing CBD Distillate

iCrowdNewswire - May 5, 2019
HOLLYWOOD, Fla.— Aluf Holdings, Inc. (“AHIX”) (“the Company”) (OTC PINK: AHIX) announces that it has launched Aluf CBD Partners LLC with an initial investment into the manufacturing and processing of CBD distillate in order to fulfill the growing client need in the CBD marketplace. CBD distillate is a THC-free, purified form of CBD.
CBD distillate is used in a variety of products such as supplements, topical creams, skincare, and even pet care. Based on market data and research, it is the most effective form of CBD used in wellness products. The hemp-CBD market is expected to reach $3 billion by the year 2020, following the recent passing of the 2018 Farm Bill legalizing CBD.
“The number one goal of Aluf is to build shareholder value through profitability. Although this initiative is outside the scope of our primary focus on “technology,” the U.S. Cannabis market, including hemp-based derivatives and CBD, is projected to expand from $10 billion to $75 billion by 2030. Conservatively speaking, we are projecting average “blended” gross profits in excess of $18.5 million annually over the next five years,” says Teresa McWilliams, Aluf’s Chief Financial Officer and Interim President/CEO.
To further expand the Company’s footprint in the CBD marketplace, Aluf has added Dr. Bob Capretto to their Board of Directors as an Adviser. Dr. Capretto is the Chairman of Solevo Wellness, a Pennsylvania-approved medical marijuana dispensary as well as a principal at the investment management group Oak Hill Holdings, LLC. “We are pleased to have Dr. Capretto’s knowledge and experience available to the Board,” said Ben Zandi, Vice Chairman of Aluf Holdings. “Dr. Capretto is a visionary and pioneer in the CBD industry and will add timeless insight and value to our CBD investment initiative.”