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AUSTIN, Texas, Feb. 07, 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 the imminent launch of its new “WheresCBD” portal. This move comes in the wake of the Company’s strong success with its “WheresWeed” division, an online and mobile cannabis services hub that focuses on fast, secure, and efficient discovery, purchasing, and delivery of cannabis in both recreational and medical markets in the United States and Canada.
“With WheresCBD, we are creating the most comprehensive CBD consumer resource in existence, expanding on the dramatic growth we have witnessed in our WheresWeed division,” commented DVLP CEO Stavros Triant. “The low-level retail CBD story has played itself out. But the specialty and niche story is really just getting started. For example, there are maybe 50 places in New Jersey where you can drive and find high-quality CBD at any given moment. But any one of them might not have the actual product you are looking for to meet your specific needs. With WheresCBD, you have a guide. We see this as an explosive service niche with no serious competition in a market that is roaring toward $20-25 billion in sales over the next 36 months.”
This announcement comes on the heels of the Company’s recent update reporting accelerating revenue growth for its “WheresWeed” division, which is now on pace at its current rate of growth to drive $2.5-3M in sales for 2019.
Management believes “WheresCBD” may achieve even more powerful success. According to a new estimate from cannabis industry analysts at the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022.
The Company notes that the “WheresCBD” portal will include the full spectrum of CBD products, including Hemp Oil, CBD for beauty, Vapes, CBD for pets, tinctures, gummies, and all other current formulations on the market. The portal will be a truly comprehensive resource for CBD products, including location services, price comparisons, product comparisons, and an extensive list of additional services to empower consumers and distributors.
“One of the most exciting aspects of the WheresCBD launch is the vertical synergy we project,” continued Mr. Triant. “We have the process mapped out given our expertise with WheresWeed, and we have additional expertise in CBD based on our product experience and our new extraction and production division. That puts us in a perfect position to dominate the CBD services space in terms of a portal that provides profound value to both the distributor and the consumer.”
The Company has already achieved major design and development milestones on the back-end for “WheresCBD”, including content assets and core data. Functionality and network elements are expected to ramp up over coming months following the launch, with full functionality and early-stage revenues in place following Q2 of this year.
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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