Hemp for Health Signs LOI for 10% of Established Distribution Firm
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2020) - HEMP FOR HEALTH INC. (CSE: HFH) ("HFH" or the "Company"), a cultivator and distributor of premium "Made in Tuscany" CBD products, is pleased to announce it has signed a Letter of Intent ("LOI") for a 10% interest in a European distribution company.
"We have signed a strategic LOI for a 10% interest in a company with established distribution channels and customers in Europe, specifically with distribution rights for Italy, Spain, Romania, Germany and France," said Robert Eadie, President & CEO of Hemp for Health. "These established channels will be vital in providing customer feedback and insights, possible product improvements, and new demand for our CBD in markets across Europe."
In consideration of €50,000, the LOI represents a 10% equity interest in the European company and opens distribution channels for HFH's flowers, biomass and CBD oil. Hemp for Health also gains access to various domain names, trademarks and contracts for the use of e-commerce platforms associated with the domain names.
Buying into the European company is part of HFH's efforts to create strategic alliances in Europe that will boost our overall brand awareness and assist in the ongoing process of identifying the best distribution networks for our premium products.
About Hemp for Health Inc.:
Hemp for Health is a cultivator and distributor of premium CBD products with an exclusive, long-term contract for land with farmers in the Tuscan region of Italy for the purpose of yielding the highest quality hemp-based CBD. Our focus is to offer the absolute best in natural and organic CBD products to our customers, and that starts with pristine soil, seeds, and sun. (See further details available in the Company's filings on SEDAR.)
ON BEHALF OF HEMP FOR HEALTH INC.
(sgd.) Robert Eadie
President & CEO
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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