SOL Global Acquires 10.3 Percent Stake in Premium Beauty and Wellness Company Sacred Hemp
April 2, 2019 (Source) — SOL Global to Assign Position in Sacred Hemp to Its Hemp-Focused Subsidiary Heavenly Rx
SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce its latest strategic investment, a significant position in premium hemp company Sacred Hemp (“Sacred“).
SOL Global has acquired a 10.3 percent stake in Sacred, the Chicago, Illinois-based manufacturer of premium hempseed oil-infused products including pain relief balms and oils, feminine products, massage oils, salt soaks, and personal lubricants.
SOL Global will assign its position in Sacred to its hemp/CBD-focused international subsidiary, Heavenly Rx.
Sacred’s product line includes its bestselling all-natural pain relief balms and lotions, made from a combination of natural hempseed oil extracts, essential oils, and menthol. Sacred’s Therapeutic Massage Oil is designed to rejuvenate even the most sensitive skin types and can help to reduce muscle inflammation and relieve muscle aches and pains. Sacred also offers four different varieties of salt soaks, including its Acai Berry Soak and its Dead Sea Salt Soak, as well as two varieties of natural hemp oil-infused personal lubricant, designed to enhance intimacy without irritants or harsh chemicals. Their female specific products include a PMS Pain Balm as well as an all-natural feminine wash.
Hemp seeds are rich in protein, polyunsaturated fatty acids, omega 6, omega 3 and insoluble fiber. They are a good source of tocopherols, or Vitamin E antioxidants, and packed with minerals such as potassium, magnesium, iron, zinc, calcium, and phosphorus. In contrast with CBD oil, hempseed oil extracts are 100% THC-free.
“Sacred Hemp’s wide range of hemp-derived products, representing numerous product categories across the cosmetics and bath and body space, is the perfect addition to Heavenly Rx’s substantial portfolio of hemp and CBD companies,” said Andy DeFrancesco, Chief Investment Officer of SOL Global. “We couldn’t be more excited to support Sacred Hemp and look forward to continued growth and innovation from its expert management team and dedicated staff.”
“SOL Global’s investment will help Sacred pursue Food and Drug Administration approval for its hemp seed oil-derived pain relief balms and lotions, with the aim of becoming among the first hemp companies in the United States to receive FDA approval,” said Sacred Hemp CEO Silvia Orizaba. “SOL’s investment will also help our company fortify and expand our existing product lines, as well as ramp up our consumer outreach efforts.”
SOL Global will review its investment in Sacred on a continuing basis and reserves the right to take any action with respect to its investment it deems appropriate, including, but not limited to, purchasing additional shares of Sacred, selling some or all of its shares of Sacred, or otherwise modifying its investment strategy with regard to Sacred.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States’ medical cannabis industry.
About Sacred Hemp
Sacred was founded on the belief that everyone should have access to natural, high quality products when it comes to caring for your body. Our products, including Pain Balm and Pain Relief Lotion, are 100% pure with no rich nutrients ever taken away. Each product is created with essential oils and hemp oil, offering healing effects. We’ve invested years in developing our products. Since the beginning, Sacred has been built on our two core values: purity of product and customer experience. Our belief in the highest quality possible is what differentiates our hemp oil products from similar THC-free products on the market. Our unique selection of ingredients creates natural products that you will love and are conveniently delivered right to your doorstep.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>