Green Growth Brands Announces Agreement with American Eagle to Sell CBD-Infused Personal Care Products
Green Growth Brands Inc. (CSE:GGB) (OTCQB: GGBXF) (GGB) today announced it has received a purchase order from American Eagle Outfitters, Inc. (NYSE: AEO) through which it will sell hemp-derived cannabidiol (CBD) infused personal care products in nearly 500 of its American Eagle (AE) stores and online.
The purchase order represents GGB’s third major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018 (the 2018 Farm Bill).
The products, which were exclusively developed for American Eagle, include a wide assortment of CBD-infused personal care items such as lotions, muscle balms, and aromatherapy. Sales of the product are expected to begin in October 2019.
“We are very pleased to be partnering with American Eagle, a leader in the specialty retail space,” said Green Growth Brands CEO, Peter Horvath. “GGB provided the expertise necessary to develop the product formulations and packaging to create a really special line of products.”
All Green Growth Brands CBD products are sourced from U.S.-based, licensed hemp processors and comply with the 2018 Farm Bill. GGB sells and distributes topical CBD products only in jurisdictions that permit such sale.
About Green Growth Brands Inc.
Green Growth Brands creates remarkable experiences in cannabis and CBD. Led by CEO Peter Horvath and a leadership team of consumer-focused retail experts, the company’s brands include CAMP, Seventh Sense Botanical Therapy, The+Source, Green Lily, and Meri + Jayne. The Company also has a licensing agreement with the Greg Norman™ Brand to develop a line of CBD-infused personal care products designed for active wellness. Already driving the strongest sales per square feet in the cannabis industry, GGB is expanding its cannabis operations throughout the U.S., its CBD presence at ShopSeventhSense.com, in malls across the country and at DSW shoe stores—and that’s just the beginning. Learn more about our vision at GreenGrowthBrands.com.
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle® and Aerie® brands. The company operates more than 1,000 stores in the United States, Canada, Mexico and Hong Kong, and ships to 81 countries worldwide through its websites. American Eagle and Aerie merchandise also is available at more than 200 international locations operated by licensees in 24 countries. For more information, please visit www.aeo-inc.com.
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies, including with respect to its retail shop strategy; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR.
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