- Brings together proprietary hemp-derived CBD extraction, wholesale CBD oils/isolates, CBD product formulations and consumer brands into public entity
- Real Brands appoints Thom Kidrin as CEO
North Providence, RI and Weston, FL, Oct. 27, 2020 (GLOBE NEWSWIRE) — Real Brands Inc. (OTCPK: RLBD) has completed a reverse merger to acquire Canadian American Standard Hemp Inc., (CASH) effective immediately. Real Brands’ name and trading symbol will be maintained, with CASH shareholders acquiring majority control of Real Brands. CASH will continue to operate as a wholly-owned subsidiary of Real Brands. Thomas Kidrin, CEO of CASH, has been named Chief Executive Officer (CEO) of Real Brands, replacing former Real Brands CEO Jerry Pearring.
Real Brands’ new headquarters will be the newly renovated/constructed CASH headquarters and hemp processing facility at 12 Humbert St., in North Providence, RI.
“This strategic merger with Real Brands is designed to drive increased shareholder value and provide the public with an opportunity to participate in the growing global hemp-derived CBD market,” stated Thom Kidrin, new CEO of Real Brands. “With access to the capital markets now, we anticipate it will be easier and faster to fund our next phases of expected growth.”
CASH is an early entrant in the hemp-derived CBD market, specializing in hemp CBD oil/isolate extraction, wholesaling of CBD oils and isolate, and production and sales of hemp-derived CBD consumer brands. Its Halo 5 is a proprietary chromatography extraction technology utilizing a Simulated Moving Bed (SMB) engineered process for chromatographic separation. The SMB process is advantageous inasmuch as it provides large quantities of highly purified material and precise pharmaceutical grade molecular separation at dramatically reduced costs.
All of CASH’s hemp processing capabilities and brands, including American Standard Hemp® (A.S.H. ®), WA® and Zen Pets Treats™, and proprietary product formulations created by world renowned chemist Dr. Adel Rammal, PhD. will be retained following the merger. Dr. Rammal previously served as CASH’s Chief Scientific Officer and will be staying on at Real Brands in that capacity. Following the merger, CASH will continue to own and operate its web sites: www.cashinc.com; wabrands.com; ZenPetsTreats.com and americanstandardhemp.com.
The acquisition of CASH brings with it CASH’s affiliation with Turning Point Brands, Inc. (NYSE: TPB), a strategic equity shareholder and investor in CASH, as well as a customer for bulk CBD oils and isolates used in Turning Point products. Turning Point has more than 250,000 points of distribution with leading brands such as Zig-Zag®, Stoker’s®, and Beech Nut®.
“Our strategic relationship with TPB is invaluable, as they offer unique expertise and experience in brand launch and marketing, in addition to being a valued major customer,” noted Kidrin.
“We are pleased to complete this transaction with CASH and believe the combined companies will provide increased value to our current shareholders that far exceeds the value of the two entities separately,” said, Jerry Pearring, former CEO of Real Brands “There are real synergies between the two companies and I am confident their strategic plans promise a bright future for the shareholders.”
Peter N. Christos, a member of the Board of Directors for both Real Brands and CASH, assisted in facilitating the merger and stated, “Knowing both Thom Kidrin and Jerry Pearring for decades, and the many shared resources between the two companies, the idea of this merger was natural. Enabling CASH to become a publicly traded entity via this transaction should allow the organization to more quickly take advantage of its growing opportunities. I expect this merger will be advantageous to both companies’ respective shareholders.”
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