Reorganization Filed by RTXBQ Exit Strategy Includes Sales of Cannabis Energy Drink CHILLO
finance.yahoo.com
Republic of Texas Brands, Inc. (PINKSHEETS: RTXBQ), through its totally owned Cannabis-Holdings.com website, has started delivering CHILLO-energy drink product to various wholesale and retailers in the State of Texas. Brisk Sales of the CHILLO-energy drink has been at the forefront for the company to file a reorganization plan on Friday with the courts, and the company is seeking to leave Chapter 11 reorganization status soon.
"Sales to new accounts have been strong, and we are just beginning to get restocking orders through Chill Texas from several retailers who have gone through the CHILLO inventory at a surprisingly brisk pace," says Randy Safford COO. "The product sells itself and retailers are hungry to get CHILLO on their shelves, our phones are ringing and we have already received orders for new product offerings that we have yet to announce.
"The Reorganization plan filed, we believe, will be looked upon favorably and accepted by the courts, and Republic of Texas brands will be able to exit Bankruptcy in the near term future. Here are some of the highlights of the reorganization plan."
Upon confirmation of the Plan, the Debtor shall receive a cash infusion of $50,000 from Jerry Grisaffi. These funds will be used to cover overhead and to operate the company and make any Plan payments, if needed.
Upon confirmation of this Plan, the Debtor will acquire the company Chill Texas, Inc. for the exclusive distribution rights to Chillo Hemp Energy Drink in Texas. The Debtor believes this new avenue will provide sufficient income to pay the plan payments and provide the Debtor inroads into the new hemp based products market.
There are no plans for share cancellation or stock reversals.
"Our totally owned Cannabis-Holdings.com has placed an order for an additional tea based herbal drink sku in its product lineup, and upon manufacturer shipment of the product it will be announced and inserted at the Amazon.com and the Cannabis-Holdings.com storefronts. We are very excited that our product lineup is expanding and that more exciting sku's will be announced in the very near future."
Click here to order CHILLO product via AMAZON.com:
amazon.com
About CHILLO Energy Drink:
Chillo is a new hemp energy beverage designed to enhance any and all recreational activities. The blend of vitamins and hemp seed extract give Chillo the unique flavor and energy experience. Hemp seeds are proven to improve health in the areas of metabolism, digestion, and caloric balance. Drinking Chillo will boost your system, relieving tension, while bringing about excitement, motivation, and a great experience.
About Republic of Texas Brands Incorporated:
Our mission is to find the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. |
