DALLAS, April 15, 2020 (GLOBE NEWSWIRE) — Rocky Mountain High Brands, Inc. (OTCQB: RMHB), a healthy lifestyle Company specializing in high-quality health and wellness products, announced today the Company has entered into a Consulting Agreement (the “Agreement”) with Eagle Processing & Distribution (“Eagle”).
Under the Agreement, Eagle has agreed to assume responsibility for all Company operations on a best-efforts basis for an initial term of three years. Eagle’s responsibilities will include financing or assisting in arranging for financing of all production, purchase orders and inventory; sales and distribution; marketing; logistics and order fulfillment; production of all of the Company’s products; inventory management and coordination; customer service; risk management, and other matters as set forth in the agreement.
As compensation, Eagle was issued 50,000,000 shares of the Company’s Rule 144 common stock for services to be rendered during the initial eight months of the Agreement. Compensation for the remainder of the term of the Agreement will be negotiated and agreed upon prior to the expiration of the initial eight months.
The Agreement will allow the Company to eliminate or reduce certain overhead costs relating to wages, contractors, insurance costs, rent, storage, and logistics, as these costs will be borne by Eagle under the Agreement. The Company is still assessing the dollar impact of these savings.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., stated, “By engaging Eagle to oversee our entire operation, RMHB will have immediate access to Eagle’s management expertise, technical expertise, co-packing capabilities, supply chain, and sales and distribution channels. The Company is now pursuing opportunities that it would not have been able to pursue prior to our relationship with Eagle. The combination of RMHB’s strong product branding, coupled with the talent brought forth by Eagle, will revitalize our team, lower our overhead and help build the market value of RMHB.”
A Form 8-K was filed yesterday with the Securities and Exchange Commission. To review the filing, please click on the following link:
About Eagle Processing & Distribution
- Based in an Opportunity Zone in North Dakota.
- 100,000 Square Ft. Manufacturing Campus with two Separate Facilities.
- Recently acquired control of RMHB’s DFW co-packing facility for beverages, which will be operated as a new subsidiary of Eagle.
About Rocky Mountain High Brands
Rocky Mountain High Brands, Inc. (OTCQB: RMHB) Rocky Mountain High Brands (RMHB), a family of brands positioned to disrupt the hemp oil and hemp extract categories, is a consumer goods company that specializes in developing, manufacturing, marketing, and distributing high-quality, health conscious hemp-infused products that span various categories including beverage, food, fitness, skin care and more. Our mission is to assist others in their journey to live productive, fulfilling and healthy lives.
The Company currently markets its HEMPd product line, which currently consists of hemp oil infused topicals and nutraceuticals, and a line of hemp extract infused beverages. RMHB also bottles and distributes a naturally high alkaline spring water under the name Eagle Spirit Spring Water.
Information about Forward-Looking Statements: This release may include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company’s filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company’s business, financial condition, and results of operations. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
E & E Communications