Rocky Mountain High Brands Issues Update on Private Label Agreement
GlobeNewswire•February 13, 2018
DALLAS, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (RMHB), a fully reporting consumer goods company specializing in brand development of health conscious, hemp-infused food and beverage products and a naturally high alkaline spring water, announced today the following update from its Chairman, President & Chief Executive Officer, Michael Welch, on the Company’s Master Manufacturing Agreement with CBD Alimentos SA de CV (“Client”).
Mr. Welch stated, “In January, we amended the agreement with our Client at their request to switch from our Rocky Mountain High functional beverages with hemp seed extract to a new formulation of our Rocky Mountain High functional beverages with water soluble cannabidiol (‘CBD’), containing a non-detectable level of 0.00% THC (the compound that creates a ‘high’). With an agreement worth an estimated $7.2 million, we believe that this represents one of the largest single orders of CBD-infused beverages in the industry*. Rocky Mountain High Brands will be one of the first companies to infuse a functional beverage with CBD in a can, which affirms our trailblazer status. Migrating from a hemp-based product to a CBD-infused offering demonstrates our Client’s confidence in Rocky Mountain High Brands’ product quality, capabilities, flexibility, and leadership status.”
Mr. Welch concluded, “In addition to our CBD-infused beverages, we are also researching other products to present to our Client to enhance their portfolio. As demonstrated by our recent HEMPd product line announcement, we are evolving into a more diverse brand in 2018, which will provide the Company different sources of revenue. This private label agreement is a very important step in our diversification. Properly executing it is a top priority for the Company at this time.”
* See Press Release Announcing Private Label Agreement on December 19, 2017:
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