The Colorado cannabis company sees great opportunities as it joins forces with I’m Canabiz, AG
CBD of Denver, Inc. is a company dedicated to hemp oil and that sells Black Pearl cannabidiol (CBD) and hemp products, among other things, and has just signed a definitive agreement with I’M Canabiz, AG. This is a privately held company that abides by the laws of Switzerland and it also works with 100% organic, THC-free CBD and hemp oil products and its revenue was reported to be close to $1 million. This agreement, which was announced last Friday, involves a reverse merger and is a great opportunity for both parties given the fact that both marijuana and hemp can be legally grown in this European country.
CBD of Denver created a full line of hemp-based CBD products and one of its popular brands is the Black Pearl CBD. According to the company, its new Reef Friendly Sunscreen with CBD and 25% lip balm has already gotten off to a strong start, as well. The company indicates that the new deal will provide a huge boost, explaining that it is looking forward to the distribution of its products in the European country, and to present Swiss products to the U.S. market. Also, this agreement brings the possibility of establishing connections in the cannabis industry for learning and sharing through its social media. At this point, the transaction is still in progress and more information will be shared once the companies completed the remaining steps.
I’M Canabiz, AG also has expansion plans and is keeping its eyes open for more opportunities. Now, it controls one farm in Switzerland, which has $1 million in revenue, but is already close to negotiating the acquisition of two more Swiss-based hemp farms.