Cornelius, NC, Dec. 17, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire --
Year 2020 Recap
Good Hemp Original Product Line Growth – Good Hemp experienced an increase in new distribution partners and an expanded retail footprint for its core products, Good Hemp Fizz, Good Hemp 2oh and Canna Hemp.
Spire Partnership – Good Hemp engaged a sports and entertainment marketing partnership with Spire Sports + Entertainment. Despite the worldwide COVID-19 pandemic, the partnership led to increased visibility to Good Hemp products via the creation of the BetterForYourHealth.com educational awareness campaign as well as word of mouth exposure throughout the racing community, which led to retailer introductions leading to an expansion of Good Hemp’s distribution footprint as well as the introduction to the current target acquisition, Diamond Creek.
E-Commerce Developments – Reacting quickly to the rapidly changing retail landscape, Good Hemp developed and optimized online direct-to-consumer shopping options including an Amazon store and refreshed website experience to take advantage of the change in consumer purchasing demands now and in the future.
Diamond Creek Acquisition – In November, Good Hemp entered a Letter of Intent to acquire Diamond Creek, a top 20 premium water brand in the United States. Available in over 2,000 locations including Harris Teeter, Kroger, Food Lion and Giant Eagle, this acquisition aligns with our continued distribution footprint expansion plans while positioning the company with an easier route to gain shelf space for its CBD-based products as retailers continue to increase the amount of CBD products they offer consumers.
Production – By leveraging Good Hemp and Diamond Creek’s existing manufacturing, shipping and supplier relationships, both business units are beginning to create a more centralized and efficient supply chain to effectively lower operating costs and increase profit margins for its shareholders.
Offering of Shares via S-1 Registration – Good Hemp completed an S-1 filing that was declared effective by the U.S. Securities and Exchange Commission in November. Ten million shares of common stock are being offered by the company pursuant to the registration statement at $1.25/share.
Third Party Debt – Through revenue growth and strong fiscal policy, Good Hemp has decreased its third-party debt exposure significantly. Good Hemp plans to extinguish the minimal remaining third-party debt by the end of Q1 2021.
Year 2021 Outlook
Diamond Creek Footprint Expansion – Based on successful growth in 2020 and current relationships in the retail sector, Good Hemp expects more shelf space at retailers such as Harris Teeter. Also, movement in the retail and grocery industry should increase Good Hemp’s total brick and mortar location count via Food Lion’s recent acquisition of Bi-Lo and Harvey’s Supermarkets. Lastly, Diamond Creek is under review with multiple top 20 retailers nationwide for a 2021 launch.
Good Hemp Wellness – Good Hemp is preparing to launch a wellness product portfolio that will specialize in hemp and CBD pain and inflammation solutions targeting doctors and medical professionals and their patients. This new business unit is expected to go live in early Q1 2021 and leverage doctors, wellness professionals and hemp experts along with professional athletes and wellness influencers to gain market share quickly and efficiently throughout 2021 and beyond. This new business unit go-forward model has a minimum drawdown with a projected positive ROI within the first 12 months.
Hemp / CBD Market – Good Hemp expects a potential for exponential growth in the overall hemp and CBD industry due to greater acceptance of hemp products in the marketplace, complemented with an updated regulatory landscape from the federal government. To obtain a copy of Good Hemp’s 2021 Hemp industry outlook visit: ghmpinvestorrelations.com.
Spire Sports + Entertainment – Good Hemp will continue into year two of the partnership with increased marketing and exposure from sports and entertainment assets as the effects of the pandemic are minimized. Spire currently owns a race-winning two-car team competing in the NASCAR Cup Series, as well as the Rapid City Rush and Greenville Swamp Rabbits of the ECHL, and represents Ross Chastain, James Hinchcliffe and Justin Haley at the highest levels of professional motorsports.
About Diamond Creek Water
Diamond Creek manufactures ionized 9.5pH high alkaline natural spring water, sourced from the highest quality, award-winning springs in Ohio, Pennsylvania, and Tennessee. Available in three sizes: 1 gallon, 1 liter and 500 mL bottles, Diamond Creek high alkaline water aids in balancing the body's pH and provides superior hydration due to our state-of-the-art ionization process. Visit www.diamondcreekwater.com for more information.
About Good Hemp Products
Good Hemp 2oh! is a line of naturally flavored waters infused with 10mg of THC-free hemp extract and prebiotic fiber. Available in six flavors and only 20 calories per bottle: Strawberry Kiwi, Blueberry, Coconut Lime, Cucumbermint, Lemon Twist and Mango.
Good Hemp Fizz and Canna Hemp are functional carbonated beverages infused with natural flavors, organic caffeine, prebiotic fiber and hemp seed oil. Unlike other hemp-infused beverages that contain CBD, Fizz and Canna Hemp are made with hemp seed oil which is categorized as "GRAS" (under sections 201(s) and 409 of the Federal Food, Drug, and Cosmetic Act, and therefore not subject to FDA review and approval).
Safe Harbor Statement
This press release may contain forward-looking information that involve a number of risks and uncertainties made pursuant to Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things, the company's business plans and the company's growth strategy and operating strategy. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of numerous and varied factors. Good Hemp, Inc. does not undertake to update any forward-looking statements except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the company or any person acting on behalf of the company are expressly qualified in their entirety by the cautionary statements referenced above. With regard to the company’s offering of shares via S-1 registration, this press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. Shares of common stock are only being offered by the company pursuant to the registration statement on Form S-1 (File No. 333-248986) previously filed with the SEC, amended on November 5, 2020, and declared effective by the SEC on November 12, 2020. The offering will be made only by means of a prospectus. A final prospectus relating to the shares of common stock being offered was filed with the SEC on November 17, 2020. Electronic copies of the final prospectus may be obtained from the SEC's website at www.sec.gov. or directly from the company.
SOURCE: Good Hemp, Inc