Green Globe International Announces Revenue Up 1,067% Year-Over-Year for the Nine Months Ended September 30, 2022
Acquisition of a nutraceutical manufacturing division and the strengthened financial position of the Hempacco subsidiary sets the stage for accelerated growth
San Diego, California--(Newsfile Corp. - December 8, 2022) - Green Globe International, Inc. (OTC Pink: GGII) ("GGII" or the "Company") today announced revenues for the nine months and the three months ended September 30, 2022, of $5,954,549 and $1,982,955 respectively. Green Star Labs commenced business on January 2, 2022; hence there are, as yet, no prior-year comparatives. GGII is a holding company with major subsidiaries in the hemp smokables and CBD nutraceuticals spaces. Its Hempacco subsidiary focuses on Disrupting Tobacco's™ nearly $1 trillion industry with hemp cigarettes, smoking paper, and alternatives to nicotine tobacco products. Through its Green Star Labs nutraceutical manufacturing company, GGII is focused on becoming the premier manufacturer and distributor of CBD nutraceuticals and cosmetics.
"Product sales continue to accelerate through the addition of new "white label" clients and organically by the increase in Green Star Labs' own branded product range," said Sandro Piancone, CEO of Green Globe International. "Our industry-leading partnerships and collaborations and our team's dedication to rapidly and efficiently expanding operations are key drivers of our continued performance," said Mr. Piancone.
The Hempacco subsidiary has established world-class partnerships and joint ventures, including Hemp Hop, launched in partnership with hip-hop icon Rick Ross and Rap Snacks founder and CEO James Lindsay, a 50/50 joint venture with Cheech and Chong, and a relationship with HBI-Raw, one of the world's leading smoking paper companies.
The Green Star labs subsidiary continues to add top-quality clients to its white label portfolio, announcing last month the signing of a two-year manufacturing agreement with Life Pack Organics, Inc., a Los Angeles-based health and wellness company, and becoming a shareholder of Life Pack Organics. Green Star Labs will contribute to the research, development, and manufacturing of their entire line of topical and ingestible Life Pack Organic-ReTune products. See the Press Release dated November 8, 2022, for further details.
About Green Globe International, Inc. (GGII):
Green Globe International is a Fast-Moving Consumer Goods incubator and holding company of intellectual property, products, and companies that better people's lives by helping them feel and look better inside and out.
Green Globe International (GGII) owns or has interests in several brands and companies, including Green Star Labs, Inc., changing how people feel about themselves inside and out with nutritional supplements, CBD, and beauty products, and hemp CBD cigarette and rolling paper manufacturer Hempacco Co. Inc., (NASDAQ: HPCO) Disrupting Tobacco's™ $1 Trillion tobacco industry, with its subsidiaries and joint ventures including HempBox Vending, Inc. a vending and advertising company, Hempacco Paper Company, Inc., producing The Real Stuff Hemp Smokables and hemp paper smoking products like blunts, tubes and cones, Cali Vibes, Inc. manufacturing cannabinoid cigarettes, HempHop Smokables, Inc., partnering with music producer and rapper Rick Ross, Cheech and Chong Smokables, Inc. delivering cannabinoid Hemp CBD cigarettes to consumers with Cheech and Chong as partners, and StickIt USA, Inc., manufacturing a line of cannabinoid sticks.
Green Globe is publicly traded under the ticker symbol GGII. It continues to look for best-in-class companies, products, and patents to create Fast Moving Consumer Goods and channels to sell them, including retail automation and advertising platforms.
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Sandro Piancone, CEO
Investor Relations IR@ggiigroup.com
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
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