NEWS Rocky Mountain High Brands Receives First Shipment of $1.6 Million Machinery for Its Co-Packing Subsidiary
Rocky Mountain High Brands, Inc.
Thu, November 19, 2020, 6:00 AM PST
PLANO, Texas, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTCPK: RMHB) announced today that the first shipment of machinery was delivered to its co-packing subsidiary in Plano, Texas as part of the asset purchase agreement with Mogul Trading, LLC.
On September 17, 2020, RMHB purchased $1,600,000 worth of machinery from Mogul Trading for shares of Rule 144 stock in RMHB. The shares were issued in September and are reflected in the outstanding share count on the OTC Markets website. The purchase price included delivery of all the acquired assets to the co-packing facility operated by Rocky Mountain Productions, Inc. (RMP) in Plano and will be installed production ready. The installation of all the acquired assets will be at Mogul Trading’s sole cost and expense.
The additional acquired machinery accommodates hand sanitizer and expanding the beverage filling capabilities of Rocky Mountain Productions. The equipment decisively shapes the Company’s future and capacity for new innovations. The inventory that arrived primarily consisted of:
mono block bottle system with feeder, wash, filler, and capper
12-head rotary bottle line system with feeder, descrambler, and capper
numerous smaller component parts
Coming soon, shipments of additional machinery will include:
12-head rotary bottle line system
stainless steel two-head filler system
stainless steel four-head filler system
three labeling machines
pallet wrapper
miscellaneous component parts
“Rocky Mountain Productions continues to expand by pursuing a solid, long-term growth strategy. Sustainability is firmly embedded in its strategy to combine success with responsible action – to seize opportunities that deliver value. This asset purchase is proof positive that we are pursuing the right strategy and, above all, that it will enable a successful trajectory for our future,” said Charles Smith, President of RMP.
David Seeberger, CEO and General Counsel of RMHB, stated, “The Company is proud that Mogul Trading has expressed its confidence in us, and makes it clear we have a solid, reliable business relationship. With this acquisition, the Company is not only building a strategic relationship between two companies, but broadening its machine portfolio, while expanding its range of services and depth of added value significantly.
“This is a thrilling day for our company and employees. We view Rocky Mountain as one of the leaders in the hemp beverage space and are excited to continually grow this partnership,” said Mohammad Rameel Sheikh, CEO of Mogul Trading. “The big winners today are the consumers and shareholders. With the new additional machinery arriving, Rocky Mountain will be able to reach a wider audience to satisfy the needs of this rapidly growing market.”
About Mogul Trading LLC
The parent company of Mogul Trading LLC is OHK Global Inc., a privately owned organization headquartered in Houston, TX. Through its subsidiaries and sister companies, OHK manages over 30 retail locations throughout Texas. Recognized for its service, quality products, and convenient services, OHK strives to provide the best customer experience with the lowest prices.
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