Mota Ventures Announces 832% Growth in February 2020 over the Same Period Last Year and Provides Update on First Class CBD Sales
Mota Ventures Corp. (CSE:MOTA, FSE:1WZ1, OTC:PEMTF) (the “Company”) is excited to announce that for the month of February 2020, its First Class CBD brand achieved sales of Cdn$2,981,000, with related expenses for the same time period totaling Cdn$2,814,000. Due to accelerated marketing efforts in late January 2020, the brand was able to improve gross margins by 4.9% from January 2020 to February 2020. The Company anticipates these efforts will yield a further positive impact on revenue and margin in subsequent months. Sales for February 2019 were Cdn$320,000; therefore, February 2020 represents an increase of 832% over the same period last year.
First Class offers a CBD hemp-oil formulation intended to provide users with the therapeutic benefits that hemp may offer. The hemp oil used in the products is derived from hemp grown and cultivated in the United States. The extraction process is designed to maintain all the beneficial qualities that hemp may offer. First Class offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CBD skin serum and CBD coffee. The Company plans to continue growth of First Class in the United States over the balance of 2020, as well as an expansion into the European market.
“I am extremely pleased with the performance of the First Class brand through the beginning months of 2020. The continued growth we are experiencing is evidence of the strong consumer demand in the CBD market. While eCommerce demand is generally weakest in January and February, we continue to demonstrate our leadership through achieving approximately Cdn$5,874,000 in revenue through the first two months of the year,” stated Ryan Hoggan, CEO of the Company.
The Company cautions that figures for revenue, expenses and margin generated from the sale of First Class CBD products have not been audited, and are based on calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. These figures were translated from US dollar into Canadian dollar using the Bank of Canada monthly average exchange rates of 1.3301 for January 2019, 1.3206 for February 2019, 1.3087 for January 2020 and 1.3286 for February 2020.
About Mota Ventures Corp.
Mota Ventures is seeking to become a vertically integrated global CBD brand. Its plan is to cultivate and extract CBD into high-quality value added products from its Latin American operations and distribute it both domestically and internationally. Mota has established distribution networks through the acquisition of First Class CBD in the United States and Sativida in Europe. Mota Ventures is also seeking to acquire revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the performance of the First Class CBD brand, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally and its plans to acquire revenue-producing CBD brands and operations in Europe and North America. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.