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RISE Expands Product Portfolio & Strengthens Organization with Acquisition -- CFN Media
SEATTLE, July 31, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering RISE Life Science Corp.'s (CSE: RLSC) recent acquisitions of two California-based companies to expand its product portfolio, intellectual property, and distribution channels. The acquisition further transitions the company from a research and development phase to a development, distribution, and sales organization by providing instant sales infrastructure.
The U.S. cannabis industry is expected to reach more than $75 billion in size by 2030, according to Cowen & Co., driven by the legalization of medical and adult-use cannabis across a growing number of states. Not surprisingly, these rapid growth rates have spurred a lot of strategic acquisitions as cannabis brands look to establish dominance. Investors may want to take a look at both the acquirers and potential acquisitions.
RISE Life Acquires Life Bloom Organics
RISE Life Science recently acquired California-based Cultivate Kind and Life Bloom Organics in a move that will immediately expand its portfolio of cannabidiol (CBD) products from sexual health and wellness to include wellness, pain, and sleep products. In addition, the company will access Life Bloom’s existing production footprint, distribution channels, and proprietary nanotechnology that increases bioavailability without psychoactivity.
“This deal creates a vertically integrated corporation combining strategy with science, production with promotion, packaging with fulfillment, and sales with distribution,” said RISE Life Science President & CEO Anton Mattadeen. “Nothing speaks like successful experience. Cultivate Kind recently brought Life Bloom Organics to market with great success in California. We are thrilled to welcome Cultivate Kind and Life Bloom to the family.”
Under the terms of the deal, RISE Life Science paid aggregate cash consideration worth US$500,000 and issued two million common shares to the sellers of Cultivate Kind and Life Bloom. The sellers also received warrants to purchase an additional one million common shares, where warrant has a five-year term and an exercise price of C$0.45. The principals and key employees have also entered into employment contracts with RISE Life Science.
New CBD Products Launch in California
The acquisition of Life Bloom Organics comes shortly after RISE Life Science launched its CBD-based wellness brand, Karezza, in retail locations across California. Karezza is a suite of sexual wellness supplements that contain full-spectrum cannabidiol (CBD) from organic, U.S. Farm Bill hemp and FDA-compliant synergistic blends of herbs, adaptogens, and essential oils designed to provide “in the mood” support.
“This launch represents the culmination of four years of R&D,” said Mr. Mattadeen in a press release announcing the launch of the new line of CBD products across California. “Today, we are officially part of a new era for cannabis and we are excited about being part of the bigger new industry since the technology boom with the development and commercialization of our expanding line of health and wellness products.”
These products will be available in a variety of retail locations, including dispensaries, health food stores, natural grocers, and specialty wellness locations in Los Angeles County and San Francisco County. In addition, the products will be available in the brand’s ecommerce website that could reach a much larger audience wherever CBD products are legal.
RISE Life Science Corp. (CSE: RLSC) is making significant inroads into California’s cannabis market with the launch of its Karezza brand and the acquisition of Life Bloom Organics. In addition to new products, the acquisition provides the company with valuable distribution channels that it can use to sell its own products. By starting in the world’s largest legal cannabis market, RISE is looking to prove its product and distribution model before expanding to other legal markets, both in the US and internationally.
RISE plans on rounding out its own sexual health products with more introductions over the coming quarters, and has launched a comprehensive study of cannabis as it relates to sexual health. The study is intended to underpin and inform the company’s development of over the counter products, as well as forming the basis for a clinical trial program.
Please follow the link to read the full article: http://www.cannabisfn.com/rise-expands-product-portfolio-strengthens-organization-acquisition/
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