American Premium Water Corporation (OTC: HIPH) announces that it has entered into a letter of intent to acquire a majority stake in Evoxe Laboratories (www.evoxelabs.com) and plant + body essentials (www.plantbodyessentials.com). The transaction is expected to close by the end of February. The acquisition will be completed using restricted preferred stock.
American Premium CEO Ryan Fishoff, commented, “I am excited to announce that the Company has an LOI in place to acquire Evoxe Labs and plant + body essentials. This was an opportunistic acquisition for the Company. These are two consumer brands in CBD and cannabis space that have a tremendous amount of growth potential. Evoxe has already established itself as premium lifestyle brand in the vaporizer category; plant + body is great natural CBD brand that will benefit from being paired with the other cosmetic brands (Vanexxe and Prickly Pear) in the portfolio from a marketing and distribution standpoint. Both brands fit within with the Company’s strategy to focus on consumer products that utilize technology and formulations in the burgeoning CBD and cannabis sectors. These brands will allow us to grow topline revenue by adding more product SKUs to sell along our existing products and give us another entry point into the growing dispensary market with the Evoxe line, which will lead to increase in shareholder value.”
Evoxe Laboratories was founded in 2013 with the idea that consumers should be able to experience vaporizing in the most holistic way possible. Evoxe’s signature devices and blends are designed to provide the highest quality vaporizing experience in the marketplace. plant + body essentials was created to establish a premium all natural topical CBD solution. The brand offers various formulations to relieve pain, treat chapped lips, and provide soothing solutions utilizing all natural CBD harvested from the forests of Colorado.
“The Evoxe brand is a powerful one in the industry. One of the appealing aspects of this acquisition is that the Company will be exploring different avenues to leverage the Evoxe Laboratories brand. It’s a very strong brand that can be expanded past the vaping category, and has the potential to be used as the brand name for the CBD/cannabis technology that the Company is accumulating. Evoxe product’s sub-brands also have lots of potential, and I am looking forward to start working with the team to begin brainstorming ideas to grow monetization,” commented Mr. Fishoff.
“Plant + body essentials is a brand that has a lot of potential. The Company is acquiring a brand that has a great story and formulation. We are going to extract value from it by amplifying the marketing, promotion, and distribution. It’s very complimentary to the other cosmetic brands in the Company’s portfolio with its lower price point and product size. The brand’s story fits with the other brands as well, so I view it as something we can sell on top of the product we will be selling with it. The logistics and selling will be housed and handled by the Canyon Create team. This transaction is a huge win for the Company, and one that I view has the potential to add seven figures of yearly topline revenue. I am excited about what they hold for us in the future and will update shareholders accordingly as we progress to complete this transaction and begin selling,” concluded Mr. Fishoff.