(December 19, 2019) SPOKANE, WA â€“ Gridiron BioNutrientsâ„˘ (OTCQB: GMVP), announces it is pursuing business opportunities within the CBD Oil processing space. Earlier this month Gridiron secured 10,000lbs of industrial hemp and is currently in the process of extracting CBD oil through a third-party provider.
Tim Orr, President of Gridiron BioNutrients commented, â€śAt this stage of the business we have decided to add extraction as a core part of Gridiron Ironâ€™s business model as we look to sell our CBD products. Moving the company into new business lines within the CBD space will help accelerate our growth.â€ť Gridiron purchased 10,000lbs of industrial hemp (biomass) and plans on processing the biomass into crude within the next 60 days. We anticipate the processing will generate 400 liters of crude. The final processed product is expected to be winterized decarbed crude with a minimum 60% total cannabinoids.â€ť Tim went on to state, â€śGridiron has also recently executed a non-binding letter of intent with a Company positioned in the CBD space domiciled in Canada, and are currently in negotiations for the potential licensing our brand that would include the sale of a significant amount of inventory we have on hand.â€ť
About Gridiron BioNutrientsâ„˘
Gridiron is in the CBD space with and has had a focused on the development and commercialization of high-quality innovative CBD products within the health and wellness marketplace. Gridiron strives to formulate and design products that maximize the human bodyâ€™s potential enabling individuals to heal faster, train longer and recover quicker.
Facebook @gridironmvp – Instagram @gridironmvp – Twitter @gridironmvp
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as â€śanticipateâ€ť, â€śbelieveâ€ť, â€śestimateâ€ť, â€śexpectâ€ť, â€śintendâ€ť and similar expressions, as they relate to Gridiron BioNutrients Inc. (the â€śCompanyâ€ť) or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Companyâ€™s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Companyâ€™s filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Companyâ€™s ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) managementâ€™s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Companyâ€™s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gridiron BioNutrients, Inc.