BlockchainK2 Corp. Announces Acquisition of a Majority Stake in Private Beauty Health and Wellness Company Sobe Organics, Inc.
Vancouver, British Columbia--(Newsfile Corp. - March 9, 2020) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (STU: KRL2) ("BlockchainK2" or the "Company") is pleased to announce the acquisition of a majority stake in the private beauty, health and wellness company, Sobe Organics, Inc. ("Sobe").
Sobe sells health and beauty products nationwide in the United States in over 1,800 independent stores including resorts, spas, pharmacies, salons, hotel chains and department stores. In addition, Sobe sells products online via its E-Commerce site. All Sobe products are made in the USA at farms certified by the Food and Drug Administration (FDA). Sobe's farm to shelf supply chain guarantees the highest quality ingredients in all of its products.
Sergei Stetsenko, CEO of BlockchainK2 stated: "The use of technology to verify the supply chain is transforming the game for large and small enterprises. Blockchain technology will allow Sobe to validate the origin, organic ingredients and natural processes in the supply chain of its health and beauty products with proof of authentication."
Victoria Flores, President of Sobe said: "In a competitive industry, supply chain transparency through blockchain verification enables Sobe to differentiate its products. BlockchainK2 will be integral in helping Sobe scale faster to increase profit and revenue and decrease marketing and product development costs."
BlockchainK2's acquisition was completed with a cash investment of U.S.$250,000.
About BlockchainK2 Corp.
BlockchainK2 Corp. is a holding company investing in blockchain technology solutions for capital markets and other sectors that can be made more efficient through tokenization. The Company is currently invested in RealBlocks, a technology platform for private equity, private credit and real estate that provides tokenized secondary trading of LP interests. The Company also has executed a joint venture agreement with Standard Power, an industrial scale crypto currency mining facility with very low power costs in the United States. For information on BlockchainK2 Corp., please visit www.blockchaink2.com.
About Sobe Organics, Inc.
Sobe Organics, Inc. sells its health and beauty products nationwide in the United States in over 1,800 independent stores including, resorts, spas, pharmacies, salons, hotel chains, department stores and via E-Commerce. Sobe Organics, Inc.'s farm to shelf supply chain guarantees the highest quality ingredients in all of its products.
For further information please contact:
Sergei Stetsenko, CEO
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute "forward-looking statements", including information concerning the intentions, plans and future action of the Company described herein. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of a public company, currently with limited business and financial resources, as well as those risk factors discussed or referred to in the Company's continuous disclosure record available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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