(NF) New Age Farm to acquire Drink Fresh Water $22-billion 2018-09-24 10:55 ET - News Release
Mr. Joshua Bartch reports
NEW AGE FARM SIGNS LOI TO ACQUIRE CBD INFUSED BEVERAGE COMPANY DRINK FRESH WATER LLC
New Age Farm Inc. has signed a letter of intent dated Sept. 20, 2018, to fully acquire Drink Fresh Water LLC (DFW), a cannabidiol-infused beverage company. Drink Fresh Water, a California-based CBD beverage company, currently offers its flagship product, Fresh Water, which is a hemp-derived, CBD-infused, nano-amplified purified alkaline water. Drink Fresh Water's products can currently be found in over 100 retail stores across the nation and are additionally available for on-line purchase. According to research company Brightfield Group, the global CBD market will top $22-billion in the next four years. This is attracting large investments from international beverage conglomerates looking to enter into the beverage sector of the industry.
Joshua Bartch, New Age Farm's chief executive officer, stated: "We feel this potential acquisition couldn't have come at a better time as beverage companies are currently soaring due to the huge upside potential in the space. The team at DFW have done an amazing job with the initial build, branding and overall concept of the company. We are looking to continue to build on their success as well as bring it to the next level."
The company and Drink Fresh Water are working toward negotiating the terms of the acquisition.
About New Age Farm Inc.
New Age Farm is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at its agri-campuses in Washington State.
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