CBD Life Sciences, Inc. Expands Footprint With Proposed Strategic Acquisition of Interest in Two New York Cannabis Dispensaries
The targeted acquisitions are estimated to have a business value of approximately $14 million
SCOTTSDALE, AZ / ACCESSWIRE / August 27, 2024 / CBD Life Sciences, Inc. (OTC:CBDL), a leading innovator in the CBD industry, is pleased to announce that the company is in advanced discussions to acquire a strategic minority interest in two state-licensed cannabis dispensaries located in Upstate New York and Long Island.
This acquisition represents a significant growth milestone for CBD Life Sciences, Inc. as the company continues to expand its presence in the rapidly growing cannabis market. The dispensary in Upstate New York is projected to open its doors by November 1, 2024, with the Long Island location expected to follow in early 2025.
Strategic Expansion for Increased Market Penetration
With the legal cannabis market in New York expected to exceed $4.2 billion by 2027, this strategic acquisition positions CBD Life Sciences, Inc. to capture a substantial share of this lucrative market. The company's investment in these dispensaries is anticipated to generate significant revenue growth, with projections indicating a potential increase of 20% in annual revenue by the end of the first year of operations.
Strengthening Investor Confidence
CBD Life Sciences, Inc. has consistently demonstrated its commitment to delivering value to its shareholders. The acquisition aligns with the company's growth strategy, which focuses on expanding its footprint in key markets, increasing revenue streams, and enhancing profitability. With an anticipated 15% increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) following the dispensary openings, the company is well positioned to deliver sustainable returns to its investors.
Leadership's Vision
"Our expansion into the New York cannabis market marks a pivotal moment for CBD Life Sciences, Inc.," said Lisa Nelson, President, and CEO of CBDL. "We are excited about the potential these dispensaries bring, not only in terms of revenue growth but also in solidifying our position as a key player in the cannabis industry. Our commitment to our investors remains our top priority, and we believe this acquisition will drive significant value in the coming years."
About CBD Life Sciences, Inc.
The CBD Vault Inc. is a wholly owned subsidiary of CBD Life Sciences Inc. The CBD Vault has developed and is retailing/wholesale a full line of cannabidiol based & organic products including, Delta 8 & 10 Gummy's, Full Spectrum Tinctures & Gummy's, Pain Cream, Roll-on's, Salve, Full Pet Line, Pre-Rolls, Full Line of Spa Products, Sleep & Anxiety Edibles. The CBD Vault's products can be viewed and purchased on the Company's website www.thecbdvault.com.
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Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See CBD Life Sciences, Inc's, Inc.'s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements.
Contact Information
Lisa Nelson
CEO
[email protected]
4802091720
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SOURCE: CBD Life Sciences Inc.
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