CaniBrands Announces Capital Raise of $5-million to Fund Forward Focus Business Ventures
November 1st, 2019
News, Top News
WALNUT CREEK, CA / ACCESSWIRE / November 1, 2019 / CaniBrands, the trusted providers of premium CBD products across the U.S., announces the beginning of a US$5-million capital raise. The company is launching a 27.5 cents per share capital raise, with $1-million lead orders committed from its founders and two strategic investors.
CaniBrands will use the funds to continuously develop and market premium CBD products across the U.S., expanding to key international markets including Canada and Europe with integrated channels and operational platforms. The company has no long-term debt, highly favourable products, and a strong business strategy focused on CBD products in the sports, fitness and wellness marketplace.
“Our memorable brands and highly effective products, Cani-Sleep™, Cani-Boost™, Cani-Fresh™ and Cani-Mend™ are developed by high-performance athletes,” says Chris Lord, CEO of CaniBrands. “We operate with a capital-light, nimble, and financially prudent business model supported by strong partnerships.”
On Thursday, October 31, 2019, CaniBrands issued a press release outlining the business’s rapid growth and its plans for international market expansion and multi-channel CBD distribution. The company also reported a robust Net Promoter Score™ far exceeding the industry average, and a 60+ per-cent high-margin product focus.
Since CaniBrands’ launch in January 2019, the company has successfully delivered thousands of high-quality U.S. sourced hemp products. It also recently announced product availability in the U.S. on Amazon Prime and in Canada in 2020.
Despite recent concerns about the volatility of the cannabis industry, experts predict the CBD market will experience explosive growth over the next few years, estimating CBD products to exceed $20-billion in 2024. With the pulse on the market and a focus on innovation, CaniBrands is rapidly scaling operations and provides consistent delivery of high-quality, high-margin products to very satisfied sports, fitness and wellness households.
CaniBrands is the trusted and recognized CBD brand for the sports, fitness and wellness household. CaniBrands specializes in developing and marketing innovative CBD (Cannabidiol) products that are trusted by professional athletes and backed by science. The company has a wide selection of solutions for sports recovery, energy, focus, pain and sleep. Along with sublingual oils, balms and creams, CaniBrands has introduced a ground-breaking line of experience-based CBD-infused oral sprays. CaniBrands is a private company serving the US CBD market via wholesale partners, retail and direct-to-consumer sales at www.canibrands.com. They are setting the bar for quality control standards in the nascent CBD market, and are partnered with professional sports leaders to advocate for an all-natural approach to health and wellness and to further research into CBD and its possible therapeutic benefits. Learn more at www.canibrands.com.
Karim Marier, [email protected]
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