Loading, Please Wait...
Wholly Owned Subsidiary Diamond CBD, Inc. Continues to Dominate the U.S. Domestic Hemp CBD Oil Market
FORT LAUDERDALE, Fla., May 10, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--PotNetwork Holdings, Inc. (OTC Pink:POTN) On Friday May 11th, PotNetwork Holdings, Inc. is pleased to highlight the success of its wholly owned subsidiary, Diamond CBD Inc.’s expansive hemp derived CBD oil product line.
Diamond CBD, Inc.’s Diamond Vape Additive, Liquid Gold Vape Juice, Chill Gummies, Diamond CBD Tinctures and Biotech Creams, are the Company’s most successful products, according to the PotNetwork Holdings, Inc. 2018 Investor Relations FAQ. Diamond CBD’s products are being sold in thousands of retail locations across the United States.
According to the PotNetwork Holdings, Inc. 2018 Investor Relations FAQ, Diamond CBD, Inc.’s products are selling best in Texas, California, Florida, Georgia and New York. With clear success in the 4 largest states in the United States according to population and close to 25% of its revenues coming from ecommerce, Diamond CBD, Inc. is the clear market leader in the U.S. domestic hemp-based CBD oil market.
As Diamond CBD, Inc. diversifies the marketing of its products to new and underdeveloped verticals such as the pet supply industry, wellness centers, health food channels, and fitness centers, it’s welcome news that U.S. and international legislators are looking at cannabis and hemp with a renewed focus.
In April of 2018, United States Senate Majority Leader Mitch McConnell (R-KY) introduced H.R.5485 the Hemp Farming Act of 2018, which, when passed, is expected to remove federal Schedule I drug status, ultimately solidifying the domestic federal legality of hemp oil CBD products.
Also in April, the Federal Drug Administration (FDA) requested public comments regarding “the abuse potential, actual abuse, medical usefulness, trafficking, and impact of scheduling changes” of cannabis and related products, such as hemp CBD oil, ahead of the 40th meeting of the World Health Organization’s Expert Committee on Drug Dependence (ECDD).
The 40th WHO ECDD Conference is scheduled for June 2018 in Geneva, Switzerland and many hemp and cannabis industry experts expect that it will have long term ramifications on global policies and views towards these valuable natural substances.
PotNetwork Holdings, Inc. is acting swiftly to protect the supremacy of Diamond CBD, Inc. by taking steps towards expanding into new regional markets in the U.S. as well as Canada and Europe. The Company is also testing direct selling to end-user points-of-sale; that is, fleets of Company-owned sales vans in major U.S. metro markets that sell directly to brick-and-mortar retailers, stocked with products that are locally warehoused.
“We will continue to invest in innovation, line extensions and market awareness in order to reinforce our current industry leadership position and generate consistent incremental improvement in sales and profit in order to add to shareholder value,” stated Richard Goulding, M.D., President and Chief Executive Officer of PotNetwork Holdings, Inc.
About Diamond CBD Inc.:Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holding, Inc: PotNetwork Holdings, Inc. (OTC Pink:POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
PotNetwork Holdings, Inc.
Marisol Elwell, 1-800-915-3060