Breaking #CBD #Stock News - Sun Kissed’s (OTCMKTS: $SKDI) Hakuna
Increases Output 300%-500%With Completion of Clean Room Expansion, Production
Costs Drop 30% on Average
NEW YORK, April 20, 2020 – ( Investorideas.com newswire) – Breaking cannabis/CBD stock news -
Sun
Kissed Industries Inc. (OTCMKTS:SKDI) (“Sun Kissed”, “SKDI”), an
emerging leader in the CBD Food and Beverage marketplace, is excited to
announce that its recent acquisition, Products Group Inc, DBA/ Hakuna Supply (“Hakuna” or the “Company”), has completed
expansion and installation of its new Clean Room facility, which includes a
newly installed industrial mixer, a Nespresso Capsule filling machine, and a
Bagged Coffee filling machine.
Read this news
featuring SKDI in full at https://www.investorideas.com/news/2020/cannabis/04201OTCSKDI-Hakuna.asp
The U.S. CBD-infused drinks market, one of the
fastest-growing segments in the CBD industry, is forecast to reach $1.4 billion
by 2023, according to Zenith Global.
The new Clean Room facility has sharply increased the Company’s revenues
and productive output:
·
Nespresso Capsule production increased from 2,000/day to
10,000/day
·
Bagged Coffee filling machine driving 500% increase in per
day bagged coffee production
·
New capability to produce single serve instant coffee pouches
·
Cost of goods sold expected to drop approximately 30% on a
per unit basis
“The results of our hard-working team have resulted in
significantly increased output across all our product lines and decreased
order-to-shipment time frames,” commented Hakuna CEO, Ilan Freeman. “In
addition, we have seen demand increase over the past couple of months ahead of
our expanded marketing efforts.”
The newly expanded and enhanced Clean Room went into full use
at the beginning of April. Hakuna online sales have increased 30% since the
COVID-19 ‘lock-downs’. The expanded facilities and new equipment, along with
increased marketing investments, have Hakuna projecting increased revenues
across all online product lines on a month-over-month and year-over-year basis.
Hakuna, a wholly owned subsidiary, is an award-winning
CBD-products company, currently nominated for “Best Hemp-Derived CBD Product”
by the California Cannabis Awards after winning the DOPE Magazine Best New
Product award for Southern California in the non-cannabis/non-tech category in
2017. Hakuna was also just awarded “Runner Up” at the Los Angeles Coffee &
Donut Festival People’s Choice Coffee Awards for 2019. Hakuna generates
significant revenues with a substantial distribution footprint, including over
110 established retail distribution partners across over 20 states in the
domestic US market.
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTCMKTS:SKDI) is an emerging
leader in the CBD-based products marketplace. The Company is pursuing
meaningful technology acquisitions as part of an aggressive M&A strategy
designed to position Sun Kissed as a dominant player in a well-defined,
high-growth niche within the rapidly expanding CBD sector.
About Supply Group, Inc. /DBA Hakuna
Hakuna is a well-established retail CBD Company, based out of
California. It sells a range of leading consumer products spanning the premium
CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies, and CBD Flower product
markets. Hakuna is currently nominated for “Best Hemp-Derived CBD Product” by
the California Cannabis Awards after winning the DOPE Magazine Best New Product
award for Southern California in the non-cannabis/non-tech category in 2017.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements,
including information about management's view of Sun Kissed Industries Inc.'s
future expectations, plans and prospects. In particular, when used in the
preceding discussion, the words "believes," "expects,"
"intends," "plans," "anticipates," or "may,"
and similar conditional expressions are intended to identify forward-looking
statements. Any statements made in this news release other than those of
historical fact, about an action, event or development, are forward-looking
statements. These statements involve known and unknown risks, uncertainties and
other factors, which may cause the results of Sun Kissed, its subsidiaries and
concepts to be materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have material adverse
effects on Sun Kissed’s future results. The forward-looking statements included
in this press release are made only as of the date hereof. Sun Kissed cannot
guarantee future results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these forward-looking
statements. Finally, Sun Kissed undertakes no obligation to update these
statements after the date of this release, except as required by law, and also
takes no obligation to update or correct information prepared by third parties
that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
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