Mountain High Acquisitions Corp. Completes Acquisition of CBD Hemp Oil Nutraceutical Developer GreenLife BotaniX Inc.
Denver, Colorado - February 11, 2015 - Mountain High Acquisitions Corp. (OTCQB: MYHI) (“Mountain High” or the “Company”) is pleased to announce that it has completed the acquisition of GreenLife BotaniX, Inc., a California-based developer and marketer of CBD hemp oil infused nutraceutical products (“GreenLife”). As a result of the acquisition, GreenLife has become a wholly-owned subsidiary of the Company.
“The rapidly growing nutraceutical market combined with recent changes in legislation regarding hemp and CBD, and the recent explosion of consumer and media interest in hemp and CBD products has created an incredible opportunity for companies that can successfully execute their business strategies in this new space,” commented Alan Smith, President of Mountain High. “GreenLife’s strong and experienced management team is well on their way to capitalizing on this opportunity with a substantial current catalog of unique CBD hemp oil products and is poised to launch several more groundbreaking products in the near future. Everyone at Mountain High is looking forward to working closely with Brent, Marcus, and the entire GreenLife team, to build GreenLife and their SuperCBD brand into a nationally recognized leader in CBD hemp oil nutraceuticals.”
GreenLife BotaniX, Inc. is focused on the development and sale of products containing and featuring non-psychoactive CBD (cannabidiol) derived from hemp oil and sold under the retail brand name “SuperCBD”. GreenLife currently features over a dozen CBD-based products on its e-commerce website www.greenlifebotanix.com, including four primary flagship products; “Super CBD Drops” - a high-potency vanilla flavored vegan hemp oil tincture, “Super CBD Lotion” - a CBD lotion made with a unique blend of CBD, eucalyptus oil, and vitamins and minerals, “Super CBD Lip Balm” - a medicated ointment intended for a variety of skin problems, cuts and rashes, and “Super CBD Pills” - a concentrated CBD dose in pill form for easy ingestion.
GreenLife obtains all its CBD from organic hemp grown exclusively for GreenLife’s products by a specialized hemp cultivator. All GreenLife hemp is 100% natural, non-GMO, and grown without pesticides, herbicides, and chemical fertilizers. GreenLife’s supplying partner utilizes state-of-the-art oil extraction methods coupled with what is believed to be the most rigorous testing regimen in the industry. The hemp oil is lab-tested multiple times during the manufacturing process, from seed to shelf. GreenLife hemp oil is also tested for yeast/mold/fungus and bacteria like E. coli to ensure safety and quality. This combination of high quality organic source hemp, state-of-art oil extraction, and rigorous testing is intended to bring consumers the best hemp oil products on the market under the “SuperCBD” brand name. Current and potential future sales channels for SuperCBD products include a strategic mix of online sales, brick & mortar distribution, dispensaries, liquor stores, boutiques, spas, large retail venues, and direct mail.
The GreenLife management team includes Brent McMahon, President, and Marcus Daly, V.P. of Sales.
Brent McMahon brings over 27 years of business experience to GreenLife. As CEO of Mega RV Corporation, he oversaw the generation of over $1 billion in retail sales. He has supervised over 400 employees, created significant sales forces, worked with prominent financial institutions to establish peak credit facilities exceeding $60 million, and built agreements with some of the largest manufacturers in the US and Canada. Mr. McMahon is also a dynamic public speaker, having led sales presentations and motivational seminars involving hundreds of sales consultants.
Marcus Daly brings over 17 years of experience in account management and business analysis for prominent national companies. He served in national and global account positions for Southern Wine and Spirits, Allied Domecq, Jim Beam and E and J Gallo. His experience encompasses a broad range of retail drug chain sales and account management. He brings strength in corporate management collaboration, partnership building and innovative program planning, and achieving sales goals. Mr. Daly received a Bachelor’s degree from the University of California, Los Angeles.
McMahon stated, “I am extremely excited to have GreenLife join forces with Mountain High to accelerate the growth and development of our already established CBD hemp oil nutraceutical business. This transaction, we believe, will help fuel our future growth plans and allow us to better deliver the highest-quality CBD products to consumers, retailers, and wholesale distributors across the country.”
Alan Smith concluded, “CBD hemp oil and hemp based nutraceuticals appear to be two of the strongest components of the industry with a very bright future. Mountain High intends to continue to pursue acquisitions of other complimentary businesses and assets in the hemp/CBD nutraceutical sector.”
Following the acquisition of GreenLife, there are a total of 38,142,000 common shares of the Company outstanding. Mountain High Acquisition Corp. files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company’s filings can be viewed at www.sec.gov, including the Company’s most recent Form 8-K filing describing the Company’s acquisition of GreenLife BotaniX, Inc.
About Mountain High Acquisitions Corp. (MYHI)
Mountain High Acquisitions Corp. (www.mountainhighac.com) is a diversified holding company focused on the acquisition and development of businesses within the hemp and CBD nutraceutical sectors. The Company’s wholly owned subsidiary, GreenLife BotaniX, Inc. (www.greenlifebotanix.com), is a California-based developer and marketer of the “SuperCBD” brand of CBD hemp oil infused nutraceutical products.
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Disclaimer/Safe Harbor:This Mountain High Acquisitions Corp. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company’s ability to raise sufficient development and working capital, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all. The Company does not and will not grow, harvest, distribute, or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.