DALLAS, May 11, 2020 (GLOBE NEWSWIRE) — Rocky Mountain High Brands, Inc. (OTCQB: RMHB), a healthy lifestyle Company specializing in high-quality health and wellness products, announced today it recently acquired a commercial bottling operation in Plano, Texas through its new wholly owned subsidiary, Rocky Mountain Productions, Inc.
The facility, previously owned by Raw Pharma, LLC, has a peak production capacity for:
- Beverages of 12,000 cans per hour
- High speed production line of 9,000 bottles per hour
- Second high-speed line of 4,000 bottles per hour (offline at time of purchase; to be brought online as soon as possible)
The high-speed production line has been converted to a hand sanitizer filling line due to the recent demand for hand sanitizer. Additional production shifts have also been added to meet the demand.
Michael Welch, Chairman of the Board, said, “This acquisition gives us the opportunity to enter the highly lucrative hand sanitizer business at a time when it is in great demand. Owning our own bottling and canning facility allows us to maintain total control over product quality and development as well as ensuring favorable production scheduling for our HEMPd and private label beverages at significant cost advantages. We now have revenue producing assets which will allow us to drive our own success.”
Rocky Mountain Productions, Inc. made an upfront payment of $500,000 in RMHB shares of common stock, and will make monthly payments toward machine debt of $1.0 million, and a series of additional payments totaling up to $1,750,000, with payments beginning in May 2020 and ending no later than 2021, commensurate with the development of the revenue stream.
The acquisition was ratified by the Board of Directors on Monday May 4, 2020 and was announced publicly through a Form 8-K filing with the Securities and Exchange Commission on Friday, May 8, 2020. To review the filing, please click on the following link:
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. RMHB also markets a naturally high alkaline spring water as part its brand portfolio. 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.
The Company recently entered the hand sanitizer market because of the demand created by the COVID-19 pandemic. Currently, the Company fills hand sanitizer manufactured by other companies for private label clients at its recently acquired manufacturing facility in Plano, Texas.
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