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PSIQ Expects Strong Revenue Growth in 2019 as President Trump Signs Farm Bill Legalizing Hemp CBD Nationwide
SUNRISE, Fla., Dec. 27, 2018 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) announces based upon strong product demand for its Products, PSIQ is on the path toward significant revenue growth in 2019 as compared to 2018. The Company has made significant investment in development of its nationwide distribution infrastructure and expects this forward movement to continue. This trend is even potentially more impactful with President Trump signing of the 2018 Farm Bill. The 2018 Farm Bill removed CBD derived Hemp from the Schedule 1 drug list and makes Hemp CBD Federally legal for use, interstate transporting, and export. Hemp based CBD with under .3% THC (the psychoactive ingredient in marijuana) has proven to be medically beneficial in a regimen of wellness and pain relief programs.
Dan Oran, CEO of PSIQ stated, “We believe PSIQ is in the right place at the right time by offering a variety of Hemp based CBD products under our proprietary formulation. We have previously made several announcements including but not limited to (1) strong revenue growth to date (2) the filing of our Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) as the first step to becoming an SEC reporting company and up listing to the OTCQB (3) receiving preliminary approval from the eSwatini Ministry of Economic Planning and Development to establish an exclusive growing farm and processing plant for medical Cannabis & Hemp in The Kingdom of eSwatini (4) an agreement with Saboneto Soaps for Saboneto to exclusively produce Natural Healthy Soap with Dead Sea Salts infused with Hemp and (5) an exclusive brick & mortar distribution rights agreement to Cheech & Chong men’s grooming products with Hemp in the United States and Israel.”
According to a new article from Rolling Stone, The CBD market is expected to grow to $22 billion by 2022, see https://www.rollingstone.com/culture/culture-news/new-study-cbd-market-22-billion-2022-722852/
From the Rolling Stone article: “CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years. Unlike THC, the chemical compound that gives weed its signature effect, CBD has been shown to help with everything from PTSD and anxiety to MS and epilepsy — without getting you high.”
Mr. Oran concludes, “2019 is positioned to be a banner year for PSIQ as we have many new initiatives underway and believe these efforts and investments will become productive and profitable in the coming years. PSIQ’s entire catalog is now 100% Federally legal in the United States.”
ABOUT PROFILE SOLUTIONS, INC.:
Profile Solutions, Inc., through its subsidiary Elite Products International, Inc., is a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company's products contain cutting-edge CBD industrial hemp extracts in the form of edibles, creams, oils, salves and others. Financial information can be found at www.otcmarkets.com/stock/PSIQ/profile . Please visit the Company website at www.profilesolutionsinc.com,
Subsidiary at www.elitehempproducts.com
Facebook at www.facebook.com/EliteProductsINTL/,
Instagram at www.instagram.com/elite_hemp/,
Linkedin at www.linkedin.com/in/elite-hemp-products-3a863914a/,
Twitter at www.twitter.com/Elitehemp_intl
Blog at www.elitehempproducts.com/blog.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR INFORMATION, PLEASE CONTACT:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351