SFLMaven Corporation (SFLM)

[Davis_Elite]

Sun Kissed Acquires 'Luxury' Enterprise with $11M in 2019 Revenue


NEW YORK, NY -- October 5, 2020 -- InvestorsHub NewsWire -- Sun Kissed Industries Inc. (OTC PINK: SKDI) ("Sun Kissed", "SKDI"), an emerging leader in diverse sectors including CBD consumables, digital content management, and online ad monetization technology, (www.hakunasupply.com) is pleased to announce that it has acquired SFL Maven ("SFL Maven" or "SFL"), a high-end jewelry company,( https://bit.ly/34lQgHH) in a stock-only transaction. SFL has brought in sales of over $122 million since 2004.

Carl Grant, CEO of Sun Kissed, noted, "It is with tremendous pleasure that we welcome SFL and its founder, Joe Ladin, on board and integrate SFL into the Sun Kissed family as a new wholly owned subsidiary. SFL is a company of substance and success, with a history of growth and market traction, and we believe we can launch a bright and lucrative long-term future path together in the years ahead. Our switch to focusing on acquisitions with substantial revenues, I believe, is going to bring tremendous shareholder value in both the very short term as well as in the long term."

SFL Maven has been a consistent performer in the high-end jewelry space. In 2019, SFL drove revenues of $10.8 million, followed by nearly $4 million in sales during the first half of 2020, and an extremely strong start to the second half of the year, with robust performance in its quarter ended September 30 where updated numbers will be available for release shortly.

Management believes this performance, in the face of clear headwinds resulting from the deep economic impact of the pandemic health crisis, speaks to SFL's resilience and fundamental positioning edge relative to its target market.

Joseph Ladin, founder and CEO of SFL Maven, added, "SFL has been growing year on year since its incorporation in 2004, and we are extremely proud to continue to provide value to our extensive and discerning clientele around the globe. That said, we know the time has come to shift into next gear. With Sun Kissed involved, we believe we can accelerate our growth and deliver even greater value and execution to shareholders. 2021 holds tremendous promise on the top and bottom-line for SFL and Sun Kissed, and we look forward to widening our reach and delivering first-class jewelry to a growing global marketplace."