NEW YORK, NY, Nov. 04, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- First Foods Group, Inc. (OTCQB: FIFG) has announced today that its significant fundraising activities have culminated in a raise of $750,000 in October 2019. The funds will be used by First Foods to expand the production and distribution of its hemp-based premium chocolate supplement product line available now to consumers under the brand name, “Southeast Edibles.” First Foods has been refining its chocolate supplement recipes in its state-of-the-art production facility since March of this year.
First Foods is strategically expanding its market penetration capabilities by signing a master distribution agreement with CBD Unlimited, Inc. (OTCQB: EDXC), which is a leading researcher, manufacturer and distributor of a wide range of CBD products that have been scientifically designed and tested to perfect the delivery of accurate CBD dosage.
Through this injection of capital and close collaboration with CBD Unlimited, First Foods is positioned to expedite the aggressive development of distinctive chocolate supplement products. Southeast Edibles will offer a variety of premium chocolate flavors with different concentrations of CBD Unlimited’s top-rated CBD.
“First Foods Group will be a significant contributor to CBD Unlimited's growth strategy as we advance into the food category. According to Arcview Market Research, U.S. CBD sales are expected to hit $20 billion by 2024. As this forecast includes the increase in CBD-infused supplements, we are excited to accelerate into this market," commented Todd Davis, CEO & Chairman of CBD Unlimited. "We look forward to working closely with First Foods Group and leveraging their knowledge and expertise in CBD-infused supplement innovation.”
“We are excited to work with CBD Unlimited to bring our newly launched Southeast Edibles product line to market. Our thorough, thoughtful approach to developing only the highest quality chocolate supplements is an ideal match with CBD Unlimited's scientific approach to perfecting the accuracy of CBD dosage in all-natural supplement products. CBD Unlimited’s loyal customer base and expanding market access gives us confidence that they are an ideal partner to help bring our products to discerning customers who demand quality chocolate products that have an exceptional taste and deliver a consistent and reliable dose of hemp-based ingredients,” according to Harold Kestenbaum, CEO and Chairman of FIFG.
Company management has been and remains particularly focused on expanding their investor base and creating their own chocolate supplements from carefully selected raw materials, including cacao beans that come directly from well-established farms located throughout South America that enjoy long-standing, personal relationships with FIFG’s third-generation chocolatier. The Company’s Holy Cacao chocolate is infused with only the best hemp extracts.
FIFG’s premium chocolate supplements offer a broad spectrum of premium chocolate in dark, dairy-free milk, and white varieties that are all available with different concentrations of naturally occurring CBD. The Company has featured Southeast Edibles in a brand-new website and e-commerce shop, which is positioned today to fulfill purchase orders from inaugural buyers from targeted states.
About First Food Group, Inc.
First Foods Group, Inc. provides management services and funding options for emerging supplement brands and menu concepts. First Foods Group, Inc. is also growing its own new concepts, both through proprietary development and through mergers, acquisitions, and licensing arrangements. First Foods Group has assembled a team of distinguished professionals with experience and success at the highest levels of the industry.
About CBD Unlimited, Inc.
CBD Unlimited. Inc. develops and distributes all-natural products from the cannabis sativa L plant (hemp) with less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of high therapeutic value. The science behind these products involves nearly a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per serving.
In order to provide conformity with federal and state mandates, the company has incorporated its “Gorilla-Tek” platform into their business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that tracks high-risk, high-shrink, regulated and restricted products maintained under federal/state/local regulations. The platform provides asset protection, inventory management, compliance and an “end of sale” technology integration. Gorilla-Tek is tremendously efficient, as it provides up-to-the-minute accounting and product details and GEO-location for consumer apps. Gorilla-Tek increases productivity, while reducing costs for retailers and costs in time for customers.
Safe Harbor Notice
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
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COMPANY: First Foods Group, Inc.
Contact: 201-471-0988; info@firstfoodsgroup.com
SOURCE First Foods Group, Inc.
