Leafbuyer Technologies Announces Letter of Intent to Acquire Leading CBD Trade Show
June 5, 2019
Combination to Double Company’s Current Revenue
DENVER–(BUSINESS WIRE)–$LBUY #CBD–Leafbuyer Technologies, Inc. (“Leafbuyer” or “the Company”) (OTCQB:LBUY)
announced today a non-binding letter of intent to acquire majority stake
in Las Vegas-based trade show operation CBD.io. CBD.io operates one of
the largest and most visible expos in the CBD and vape industries.
The agreement additionally includes an ownership stake in an e-commerce
website for wholesale and retail CBD products. Additional terms of the
deal were not disclosed.
CBD is the common name for Cannabidiol, a prevalent, non-psychoactive
cannabinoid found in cannabis. Preliminary
research shows CBD may help relieve pain, anxiety, and other
ailments.
“CBD has become a pop culture phenomenon, and trade shows are a
lucrative and unsaturated sector of the industry,” said Kurt Rossner,
CEO of Leafbuyer. “CBD.io is a profitable company and has a proven
financial model that will increase Leafbuyer’s top line and be a
powerful driver for earnings. The significant advantage of this
acquisition is the ability for Leafbuyer to drive tremendous brand
exposure to another fast-growing segment of the industry. Last year,
CBD.io sold nearly 200 booths, this year we will cross sell our platform
of over 400 clients and look to double that. We will be uniquely
positioned to offer a true 360 solution to customers. Our product
clients can access millions of consumers through digital and in-person
methods to spread brand awareness and increase profits.”
The acquisition would double Leafbuyer’s current revenue run rate.
“In 2018, CBD.io hosted one of the largest and most successful hemp and
CBD industry expos in the United States. We’re expanding this year to
focus on more speakers and educational series, host nearly double the
booths, and bring more value to our trade show clients,” said CBD.io CEO
Robb Hackett. “CBD is a hot commodity in the United States, as well as
other countries around the world. With Leafbuyer, we have our sights set
on locations for trade show expansion in both Europe and Asia in 2020.”
The next CBD.io
trade show will be held at the Las Vegas Convention Center on
November 22-23, 2019.
About Leafbuyer Technologies, Inc.
Leafbuyer.com
is one of the most comprehensive online sources for cannabis deals and
information. Leafbuyer works alongside businesses to showcase their
unique products and build a network of loyal patrons. Leafbuyer’s
national network of cannabis deals and information reaches millions of
consumers every month. Leafbuyer is the official cannabis deals platform
of Dope Media, Sensi Magazine, and Voice Media Group.
Learn more at Leafbuyer.com.
Cautionary Statement Regarding Forward-Looking Information
Safe Harbor Statement
This press release may contain forward-looking statements which are
based on current expectations, forecasts, and assumptions that involve
risks and uncertainties that could cause actual outcomes and results to
differ materially from those anticipated or expected, including
statements related to the amount and timing of expected revenues and any
payment of dividends on our common and preferred stock, statements
related to our financial performance, expected income, distributions,
and future growth for upcoming quarterly and annual periods. These risks
and uncertainties are further defined in filings and reports by the
Company with the U.S. Securities and Exchange Commission (SEC). Actual
results and the timing of certain events could differ materially from
those projected in the forward-looking statements due to several factors
detailed from time to time in our filings with the Securities and
Exchange Commission. Reference is hereby made to cautionary statements
set forth in the Company’s most recent SEC filings.
Contacts
Leafbuyer Technologies, Inc.
Andre Leonard, +720-432-5593
aleonard@leafbuyer.com