Sun Kissed Acquires Hakuna Supply, an Award-Winning Commercial Stage CBD Products Company
New York, New York--(Newsfile Corp. - November 25, 2019) - Sun Kissed Industries Inc. (OTC Pink: SKDI) ("Sun Kissed", "SKDI", or the "Company"), an emerging player in the CBD marketplace, is extremely excited to announce the signing of a Definitive Agreement (the "Agreement") to acquire Hakuna Supply/Products Group, Inc. ("Hakuna" or "Hakuna Supply"), a premier revenue-generating CBD-based products company located in California with over 110 established retail distribution partners across over 20 states in the domestic US market.
"We couldn't be more excited to get this deal done," stated Carl Grant, Sun Kissed CEO. "After the LOI was signed, we faced a lot of doubters - a lot of folks who didn't understand the nature of our commitment and vision, and the path this Company is on. This deal is now done. Hakuna is part of the Sun Kissed family. It is one of the most explosively successful names in the CBD space - an award-winning brand name with a huge market footprint. And we plan to expand that brand and position this Company as a truly dominant player in the space."
The Agreement represents the acceptance of terms by both parties through which 100% of the issued and outstanding shares of Hakuna will be purchased by Sun Kissed in a deal that is scheduled to close on, or before, December 12th 2019.
The Company is very excited to move forward with Hakuna's powerful and well-established package of leading consumer products spanning the premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies, and CBD Flower product markets. Hakuna is currently nominated for "Best Hemp-Derived CBD Product" by the California Cannabis Awards after winning the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017.
"This puts us in the driver's seat as a major force in the CBD market," continued Mr. Grant. "Hakuna has established a massive distribution network and a first-class branding position. From here, it really comes down to implementation on the marketing side. The sector tailwind will be there - the growth is only expected to accelerate. We already have a differentiated market identity through this acquisition. Now we just need to push, push, push."
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTC Pink: SKDI) is an emerging leader in the CBD-based products marketplace. The Company is pursuing meaningful acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in a well-defined, high-growth niche within the rapidly expanding CBD sector.
This press release may contain forward-looking statements, including information about management's view of Sun Kissed Industries Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed's future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
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