EuroLife Brands Closes on 8th NEW Retail Location in Germany
Growing Retail footprint by 12.5% in under 90 days
Toronto, Ontario--(Newsfile Corp. - July 8, 2020) - EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) ("EuroLife" or the "Company"), a vertically integrated enterprise focused on the pan-European health and wellness sector, today announced it has secured and opened an additional retail location in the city of Ingolstadt, Germany. As previously announced on May 4, 2020 EuroLife and CWE European Holdings Inc. ("CWE") are working together to secure multiple additional retail store fronts as Eurolife works with its European partners, distributors, and retail networks to expand not only its retail footprint, but its overall market share.
Ingolstadt is a city in Germany, located on the banks of the Danube in the center of Bavaria. It has a population of approximately 150,000, making it the fifth largest city in Bavaria, and is part of the Munich Metropolitan Region.
"The new location, our 8th in total, located in Ingolstadt, Germany, is a continuation of EuroLife's European retail strategy of obtaining a network of premium physical retail locations in high traffic pedestrian areas that promote products that fall within the health and wellness categories. This is extremely important especially in the age of pandemics we live in today," said Shawn Moniz, CEO of EuroLife Brands Inc. "We are working closely with our European partners to continue aggressively expanding our retail footprint towards many more retail locations to drive revenue and increase shareholder value. Our goal is to consistently increase market share throughout Germany and the rest of Europe with our retail strategy."
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On April 20, 2020 EuroLife announced it has entered into Letter of Intent (the "LOI") to acquire 100% of the issued and outstanding securities of CWE, a Canadian Corporation, which owns and operates several retail locations in Germany and one in Luxembourg. The two parties continue to negotiate progressively to finalize and execute a definitive agreement and close on due diligence shortly. CWE operates a multi-store hemp business in German speaking countries in Europe and will become a wholly-owned subsidiary of EuroLife.
HANF Hemp Stores
HANF Hemp promotes an organic, health conscious lifestyle based mainly on hemp products. Physical store locations are known for their clean and safe profile, with friendly knowledgeable staff and an open and drug free atmosphere emphasizing fairness towards producers, suppliers and customers. HANF takes a holistic, comprehensive approach to the universe of Health and Wellness, offering a range of over 300+ products from the world of hemp including oils, edibles and cosmetics. For more information visit www.hanf-bioladen.de/.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) is a vertically integrated enterprise focused on the pan-European health and wellness sector
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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