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DENVER, May 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is excited to announce that it has signed a Letter of Intent (“LOI”) toward the establishment of a licensing agreement to acquire full and exclusive rights to market and distribute a two-time award-winning proprietary line of energy drinks under the DNA Energy Drink® brand designation. The Company intends to market both CBD-infused and non-CBD energy drinks.
“As we continue to expand our market footprint in the health and wellness space, the DNA Energy Drink brand is a tremendous fit,” commented Stavros Triant, CEO of DVLP. “The CBD-infused beverage market is exploding right now, and growth in the broader non-CBD-infused energy drink market continues to be extremely robust. We expect this addition to our portfolio of products to be extremely productive as a driver of cash flows and overall top and bottom line growth.”
According to Zenith Global, a leading global food and drink consulting firm, the US market for cannabis, CBD and Hemp infused drinks is projected to grow to over $1.4 Billion by 2024, an almost fifteen times (15x) increase from 2018 sales of just $89 million.
Management notes that the DNA Energy Drinks brand currently encompasses five different carbonated beverages (Citrus, Sugar Free Citrus, Original, Cryo-Berry, and Molecular Melon) and three milk-based energy coffees fortified with Omega 3 (Mocha, Vanilla Latte, and Caramel Macchiato).
“As we put together final documentation, we are preserving our option to acquire the brand and associated recipes at a later date,” continued Mr. Triant. “This deal will allow us to expand the value of our current proprietary IP by offering us an exceptionally high-quality platform for developing and distributing a CBD-infused energy drink product with genuine market leadership potential. And it also gives us another revenue driver right out of the gates.”
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. The Company is also developing a high-capacity, high-quality CBD extraction and production facility. In addition, through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the Company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced herein are not incorporated into this press release.
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