Rocky Mountain High Brands Announces Board Approves Exploratory Committee to Investigate Building Entire Supply Chain in Puerto Rico
DALLAS, TX—March 3, 2020, (GLOBE NEWSWIRE) — Rocky Mountain High Brands, Inc. (OTCQB: RMHB), a healthy lifestyle Company specializing in high-quality health and wellness products, announced today that the Board of Directors has approved formation of an Exploratory Committee to investigate building an entire supply chain in Puerto Rico for both RMHB products and private label/white label products for other companies.
Michael R. Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., stated, “On February 25, 2020 at their invitation, RMHB met with officials of the Puerto Rico Department of Economic Development and Commerce (www.ddec.pr.gov) in San Juan to discuss the advantages of doing business in Puerto Rico. While there, over a two-day period, we met with over a dozen representatives of government, industry, public/private partnerships, lobbyists, and attorneys who educated us on the numerous benefits of establishing major operations in Puerto Rico.”
“We learned that the climate is ideal for growing hemp, the location and ports have easy access to worldwide shipping lanes, several lucrative grants are available, multiple tax incentives are available, products manufactured in Puerto Rico are marked “Made in the USA”, an abundant local work force is available, and, for employing and training certain groups of Puerto Ricans, we can trigger eligibility for an array of grants.”
“This repositioning move for RHMB would allow the Company to enter hemp farming, cultivation, CBD extraction, CBD product production, and co-packing for CBD beverages. As opposed to relying on third party suppliers, we would be responsible for our own supply chain. We’re actively exploring grants, tax incentives, industrial stipends, and a variety of other valuable incentive programs currently being offered to help make this operational move more attractive to our shareholders and investment partners alike. We understand the complexities of such a decision but believe that the benefits offered in Puerto Rico will position our brand in a more financially viable light and help accelerate growth as a first to market enterprise in the Hemp and CBD space.”
Mr. Welch concluded, “We are actively working with the Department of Agriculture and Department of Economic Development and Commerce, along with private organizations like Invest Puerto Rico (www.investpr.org), who are dedicated to helping new multi-million-dollar ventures like ours grow and thrive. We are excited about the warm reception and the great strides that RMHB has taken in working with the people of Puerto Rico to realize this ground-breaking initiative. We look forward to returning to Puerto Rico to map out our available tax accreditation, review site selections, conduct partnership interviews with farmers, and develop a roadmap to be the first major Hemp and CBD market player in Puerto Rico. This strategy will make RMHB a worldwide leader in Hemp and CBD products.”
About Rocky Mountain High Brands
Rocky Mountain High Brands, Inc. (OTCQB: RMHB) Rocky Mountain High Brands (RMHB), a family of brands positioned to disrupt the hemp oil and hemp extract categories, is a consumer goods company that specializes in developing, manufacturing, marketing, and distributing high-quality, health conscious hemp-infused products that span various categories including beverage, food, fitness, skin care and more. RMHB also markets a naturally high alkaline spring water as part its brand portfolio. Our mission is to assist others in their journey to live productive, fulfilling and healthy lives.
The Company currently markets its HEMPd product line, which currently consists of hemp oil infused topicals and nutraceuticals, and a line of hemp extract infused beverages. RMHB also bottles and distributes a naturally high alkaline spring water under the name Eagle Spirit Spring Water.
For corporate information, please visit www.rockymountainhighbrands.com.
For product information, please visit: www.hempd.com and www.eaglespiritwater.com.
Information about Forward-Looking Statements: This release may include 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. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company’s filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company’s business, financial condition, and results of operations. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
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