News

CBD Global Sciences Resumes Trading After Filing of Financials

Denver, Colorado – (NewMediaWire) – September 27, 2021 – CBD

Global Sciences, Inc. (OTC: CBDNF) (CSE: CBDN) (Frankfurt:GS3), (“CBD

Global” or the “Company”), is pleased to share the news that, following the

filing of its 2020 annual, and Q1 2021 and Q2 2021 financial statements and

MD&A, the previously issued cease trade order has been revoked and the

Company’s common shares have been approved by the regulators and Canadian

Securities Exchange to resume trading.   The Company’s common shares

will resume trading at the opening of the market on September 28, 2021. 

The financials submitted paint

a picture of a company that has fought vigorously to survive through the impact

of the global pandemic in 2020 and predatory litigation that led to the filing

of Chapter 7 bankruptcies for two of its subsidiary companies in US Federal

Bankruptcy courts in March of 2021.

When the lockdowns began in the

US for the global pandemic, we saw many of our partnering retailers directly

impacted.  Global NV watched our fastest growing retailers in the airports

(Hudson News and Minutes Suites) move from a 100+ store increase per month

rollout to a cut in store foot traffic by over 96%.  Our white label

business was impacted by a cancellation of over $2.3M of purchase orders the

first week of the lockdown.  In June of 2021, the Company completed the meeting

of creditors in the two bankruptcies which provided a road map for the next

phase of operations for CBD Global.  Upon completion, CBD Global is

expected to retain less than $1.0 M USD in debt on its balance sheet,

adjustments that are anticipated to be reflected in the Company’s Q3 financials

for 2021. 

Additionally, CBD Global

successfully acquired both Aethics (www.aethics.com)

and CannaOil (www.cannaoilshop.com) out of the bankruptcies.  This purchase came with

all trademarks, inventory and web URL’s related to the two brands.  Until

that was approved by the courts, we elected to put both brands into ‘auto

pilot’ status.  Leading up to and during the bankruptcies, CBD Global

could not benefit from sales of products because it would be considered

property of the estates in the bankruptcy.  Until this matter was resolved

we did not invest time or resources into the growth of sales and distribution

for both brands, which directly impacted the revenue generation for the Company

in the first two quarters of 2021.  Now that the Company owns both brands,

we are excited to initiate the relaunch.

Brad Wyatt, CEO of CBD Global

Sciences, shared, “This is an exciting day for our Company.  It has been

difficult over the past 18 months traversing the obstacles placed in our way,

but we have emerged stronger.  Stay tuned for what is to come, I am

excited about the future for CBD Global!”

ABOUT CBD GLOBAL SCIENCES

INC.

CBD Global Sciences, Inc., is a

hemp-based CBD producer and branding investment vehicle which currently owns

two brands, branded under the name Aethics (www.aethics.com)

and CANNAOIL (www.cannaoilshop.com), which include CBD Oil tinctures (liquid products), CBD

capsules, CBD topicals, Hydration products and Confectionary products. 

CBD Global Sciences hemp-derived CBD extracts are sold through select

distributors, brick and mortar retailers, and online.

CBD Global Sciences, through

its wholly owned subsidiaries, Global Sciences Holdings and Legacy Distribution

Group, (www.legacydistributiongroup.com), is delivering quality CBD products from multiple

vendors of CBD infused products and non CBD products throughout the Colorado

and Wyoming territories, currently servicing over 400 C-store and large box

retailers with expansion plans to exceed 5,000 stores in the next 12-24

months. 

For further information,

please contact, Investor Relations, (888) 401-2239, info@cbdglobalsciences.com

NEITHER THE CANADIAN SECURITIES

EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT

REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain

“forward-looking statements” under applicable Canadian securities

legislation. Forward-looking statements include, but are not limited to,

statements with respect to future developments and the business and operations

of the Corporation after the CSE listing.  Forward-looking statements are

necessarily based upon a number of estimates and assumptions that, while

considered reasonable, are subject to known and unknown risks, uncertainties,

and other factors which may cause the actual results and future events to

differ materially from those expressed or implied by such forward-looking

statements. Such factors include, but are not limited to general business,

economic, competitive, political and social uncertainties; and delay or failure

to receive board, shareholder or regulatory approvals.  Readers should not

place undue reliance on forward-looking statements.  The Corporation

disclaims any intention or obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise,

except as required by law.

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The post CBD Global Sciences Resumes Trading After Filing of Financials first appeared on Smallcaps Daily.

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