DALLAS, Sept. 12, 2016 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTC PINK:RMHB) announced today that on September 9, 2016, a Letter of Intent (LOI) was executed between Rocky Mountain High Brands, Inc. (RMHB or the Company), Jerry Grisaffi, Founder, Chairman of the Board, and RHMB Control Person through his ownership of 1,000,000 Shares of RMHB’s Series A Preferred Stock, and Lily Li or assigns (collectively “Li”).
The Letter of Intent grants Li a binding option to purchase 100% of the Series A Preferred Stock from Grisaffi. Further, the LOI specifies that Li understands that when exercising this option, Li will be required to contribute a sufficient amount of capital to RMHB to fund the Company to move forward in the implementation of its expansion plans.
Li, RMHB and Grisaffi have agreed upon a 30-day due diligence period for the potential acquisition.
Mrs. Li, President of Rocky Mountain High Brands China, represents several Chinese investors who are interested in expanding their holdings in the beverage industry in the United States and bringing U.S. products to China. The Chinese investors have worked with Mrs. Li in establishing Rocky Mountain High Brands China.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, said, “This type of financial backing will allow us the opportunity for a capital infusion into the Company to fund our U.S. sales strategy rollout and its related advertising and promotion budget, as well as assistance with direct routes of distribution into China. We look forward to this next chapter in our Company’s development.”
With a population of over 1.3 billion, China has emerged as the world’s largest market for food and beverage, surpassing the United States.
Strong recovery of the global health and wellness market is on the way, with sales recording 6.5% value growth (fixed exchange rates) in 2011. Products offering specific health benefits, such as fortified/functional, or those renowned for their natural health properties drove value sales, with rates above 7%. Growth was further fueled by the developments in the emerging markets as China and Brazil alone contributed US $15 billion in new sales that year. Steady real term growth of 7.2% (current prices) is expected to continue to 2017, with global health and wellness sales on the way to hit a record high of US $1 trillion by 2017, as reported at:
About Rocky Mountain High Brands:
ROCKY MOUNTAIN HIGH BRANDS, INC., is a consumer goods company specializing in brand development of health conscious, hemp-infused food and beverage products. The Company currently markets a lineup of four naturally flavored hemp-infused beverages (Citrus Energy, Black Tea, Mango Energy and Lemonade) and a low calorie Coconut Lime Energy drink. Rocky Mountain High Brands also offers hemp-infused 2oz. Mango Energy Shots and Mixed Berry Energy Shots, as well as a new Relaxation Brownie.
For interested investors, our stock symbol is RMHB.
For ordering information please visit: www.RockyMountainHighBrands.com
For Rocky Mountain High Distribution Contact:
Chuck Smith (972) 955-0964
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Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Source:Rocky Mountain High Brands, Inc.