Acquired Sales Corp. (OTC Pink: AQSP) is acquiring Illinois-based CBD LION for $2 million in cash, plus 5 million shares of Acquired Sales Corp.’s common stock. The deal is contingent upon CBD LION completing a capital raise of at least $4 million by Acquired Sales Corp.
Once the deal is completed, Acquired Sales Corp. plans to change its name to CBD LION CORP. to emphasize its vision to become the leader in the CBD products industry. Acquired Sales Corp. has already acquired 4.99% of rapidly growing CBD-infused beverage and products maker Ablis Holding Company and of craft distillers Bendistillery Inc. and Bend Spirits, Inc. located in Bend, Oregon.
“We set out to create a righteous brand whose products positively impact consumers’ lives. The demand for our products has been exponential: during our opening month of January 2018, our sales were just over $4,000; one year later, during the first four months of 2019, we are averaging about $160,000 in sales per month,” said Erik S. Lundgren, Founder and CEO of CBD LION. “We’ve had to relocate three times, each time to a larger facility, to try to keep up with growing demand. But, even though we moved to larger spaces, we were restricted by a lack of operating capital – we just couldn’t keep up with the demand! We are very excited about this transaction with Acquired Sales Corp. because it will provide us with the growth capital that we need to be able to meet our customers’ needs through expanding our product lines and distribution channels, which should dramatically increase our sales.”
Founded in 2017 CBD LION’s current list of products include CBD vape pens, cartridges, concentrates, tinctures, gummies, and lotions. The company said that all of CBD LION’s products are two-time third-party lab tested, something that most competitors do not do, which gives CBD LION a competitive advantage and products that consumers trust.
CBD LION has won the following awards: Best Edible at CBD EXPO WEST and Best Vape at CBD EXPO MIDWEST.
As part of the transaction, the key executives of CBD LION including Erik S. Lundgren, Katie M. Nauert (Lundgren), Andrew Stepniak, Christopher Nauert and Christopher Weiland will sign long-term employment agreements to serve in executive positions at Acquired Sales Corp.
William C. “Jake” Jacobs, CPA, President and CFO of Acquired Sales Corp., said, “CBD LION’s leadership team is knowledgeable, passionate, and laser-focused on promoting CBD LION’s high-quality array of products, which are made in a certified clean room and are tested extensively for quality. These factors, coupled with CBD LION’s awesome name, cool logo, great product reviews, its eye-catching colorful product packaging, and its incredible growth over the past two years, make CBD LION a fantastic partner for us. We are ready to ROAR!”