Denver, CO – (NewMediaWire) – October 15, 2021 – CBD Global Sciences, Inc. (OTC: CBDNF) (CSE: CBDN) (Frankfurt:GS3), (“CBD Global” or the “Company”) is pleased to announce that the previously announced litigation with Unleashed Entertainment LLC has been dismissed with prejudice and with no payment of damages or other remuneration to the Plaintiff. Case No. 1:21-cv-928 filed in federal court against CBD Global Sciences was dismissed October 14th, 2021, six and a half months after being filed.
Brad Wyatt, CEO of CBD Global Sciences, shared, “We are happy to be able to refocus our attention on productive activities and put this behind us. A distraction of this magnitude created uncertainty for our shareholders and diverted precious time and resources. With this now behind us, we will focus our team’s attention on getting our company’s revenues and valuation in line with what I know it should and will be.”
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, Resinosa LLC (www.resinosa.com) and Legacy Distribution Group, (www.legacydistributiongroup.com ), is delivering quality CBD products both in a retail and e-commerce formats nationwide. The DSD provides distribution services for multiple vendors of CBD infused products and non-CBD products throughout the Colorado and Wyoming territories (direct store delivery) currently servicing over four hundred (400) C-store and large box retailers with expansion plans to exceed 5,000 stores in the next 12-24 months. With the recently added manufacturing division, Resinosa LLC, it now has the capabilities to provide cGMP manufacturing to the CBD industry with both private label and white label CBD and non-CBD product lines.
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Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in CBD operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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