THOUSAND OAKS, CA, May 04, 2021 (GLOBE NEWSWIRE) -- CBDual Biotechnology Corp's parent company, THC Farmaceuticals, Inc (OTC: CBDG), developer of a unique line of premium CBD based oral health products as well as Dr. Rubin's Dental Anxiety Pills, today announced that it had reached a binding agreement to acquire a controlling ownership interest in G.K. Manufacturing from Cannabis Sativa, Inc., (OTCQB: CBDS).
"This acquisition positions us to rapidly expand our CBD product lines due to G.K.'s ability to produce up to 12 million product units per month while being conveniently located in Anaheim, California," said veteran manufacturing lawyer and Vice President of CBDG Mark Grossman.
With the Acquisition of G.K. Manufacturing, The Company strengthens its capabilities to supply U.S. domestic markets with an expanded product offerings, including a new line of dental care-related products. Additionally, the Acquisition provides an entry into the U.S. market with innovative and leading CBD health and wellness brands, including an established manufacturing and distribution platform.
G.K. Manufacturing is a Southern California contract manufacturing, co-packing, and white label company, producing a wide range of the highest quality, lab-tested CBD products, including edibles, tinctures, drinks, and topicals. The Acquisition includes multiple brands such as the well-established Ganja Juice brand (ganja-juice.com) and Murray & Rocco's CBD infused pet line. G.K. Manufacturing has pending nationwide and global sales contracts with companies in the U.S., UK, France, and Spain. "We are excited to acquire a majority interest in a company that has strong co-packing and white label opportunities in the CBD industry. The multitude of new concepts and brand ideas under development by G.K. Manufacturing and CBDUAL Biotechnology will help to drive sales in the coming periods. The acquisition positions CBDG to become a premium developer and manufacturer of new products in the booming CBD marketplace." said Dr. Greg Rubin, Founder, and CEO of CBDUAL Biotechnology.
Recent Grand View Research indicated that: The global CBD oil and CBD consumer health market size was valued at USD 20.3 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 25.6% from 2020 to 2027. Increasing the adoption of cannabidiol (CBD) and infused products for various medical and wellness purposes is the key factor driving the market's growth. In addition, favorable government regulations and increasing consumer awareness and demand for cannabidiol due to its health benefits further increase its adoption. Furthermore, CBD consumer health products are also gaining significant acceptance owing to their health benefits without any psychoactive effects. Increasing awareness regarding health benefits offered by cannabidiol-infused products has led to an increase in a consumer pool willing to buy these products.
Moreover, the increasing product options for consumers, such as dietary supplements, analgesics, edibles, topicals, oils, and capsules, are driving the market. Growing demand for cannabidiol in pharmaceutical formulations owing to its healing properties is expected to boost the demand for the product in the pharmaceutical industry. Other factors contributing to the increase in demand for CBD oil include rising consumer preference toward oil as a product category, the surge in demand for full-spectrum products, and many companies entering into bulk as well as finished product business. This segment is anticipated to register a lucrative growth in the forthcoming years owing to the increase in demand for cannabidiol from various end-user industries such as pharmaceuticals, food and beverage, and personal care and cosmetics, which is expected to trigger market growth.
CURRENT STATUS ON OTC MARKETS
The Company has published in the past its fiscal year ending September 30, 2020, annual report on its website here: http://cbdg.com/investor-relations/financials/ However, moving forward, the Company will resume publishing its disclosures on OTC Markets in order to provide a greater level of transparency and access to the markets as well as meeting their June 30, 2021, deadline for alternative reporting.
ABOUT GK MANUFACTURING
GK Manufacturing & Packaging, Inc. ("G.K.") http://gkmanufacturinginc.com, leases a 16,364 square foot building in Anaheim, CA. G.K.'s facility is FDA Registered, ISO 9001 Compliant, CGMP Compliant, and Halal/Kosher Certified. The facility is a free-standing building with full HVAC systems, state-of-the-art security and is capable of producing up to 12 million product units per month.
GKMP offers a full-service co-packing solution for CBD brands with in-house formulations and over 400 product SKUs, as well as label design, in-house printing, and in-house media (offering photo, video, and content creation).
G.K. Manufacturing has been formulating and manufacturing for more than a dozen years, specializing in unique and specialty products, including topicals and beverages. White label services ranging from expert formulation and mixology to packaging and design, along with fulfillment including online orders, warehousing, and drop-shipping, are all offered by G.K. For information, visit the contact page at http://gkmanufacturinginc.com/.
About Cannabis Sativa, Inc.
Cannabis Sativa, Inc. ("CBDS") is engaged in the licensing of cannabis-related intellectual property, marketing and branding for cannabis-based products and services, operation of cannabis-related technology services, and ancillary business activities. CBDS licenses the "hi" and "White Rabbit" brands, holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, a U.S. Patent for a marijuana lozenge, and operates its primary subsidiary PrestoDoctor® (https://prestodoctor.com).
About CBDual Biotechnology Corp.
THC Farmaceuticals, Inc.: (OTC: CBDG), through its subsidiary, CBDual Biotechnology Corp., is a pharmaceutical start-up company that focuses on developing products based on cannabidiol (CBD) and/or Tetrahydrocannabinol (THC). The Company's facility is located in Southern California. We provide easy access for patients to participate in clinical trials of new medical cannabis medications, therapies, and products. CBDual Biotechnology Corp is a privately held U.S. Based Biotechnology company with proprietary technology for enhanced oral delivery of bioactive cannabinoids. This technology promotes overall oral health due to the higher effectiveness of the delivery methodology. The Company was founded in 2016 and is headquartered in California, with its R&D in the U.S. and Israel.
On November 26, 2018, the Company took steps to become the world's first public Company to enter the magic mushroom space, subsequently forming its subsidiary, Medical Mushrooms Ltd.
Recently the Company has begun research on psilocybin for the purpose of conducting clinical trials involving the combination of genetic testing and micro-dosing of psilocybin formulations. We are well-positioned to begin clinical trials involving psilocybin since we have already cleared a path for cannabis-related clinical trials. The purpose of this division is to engage in advanced research of the growing niche of pharmaceutical-grade medicinal mushrooms, including psychedelics. The Company has registered the following domain names:
Follow us on Twitter @THCFarma and @CBDualBiotech.
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE: CBDual Biotechnology Corp.