VANCOUVER, BC / ACCESSWIRE / April 4, 2023 / Lords & Company Worldwide Holdings Inc. ("Lords" or the "Company") (CSE:LRDS)(OTCQB:LRDSF)(FSE:4XM), is pleased to announce the launch of seven new lines of products with eighteen new SKU's across multiple product categories on Lords proprietary eCommerce platform. The new product offerings expand Lords existing product offerings in the CBD, dietary supplement and natural health and wellness products.
The new product lines will include a highly effective CBD tinctures, , gummies, and soft gels, and CBD bath bombs to relieve stress and anxiety allowing you to get a restful night's sleep. Lords face serum, body lotion, soothing balm, and massage oil will empower customers and help them maintain their youthful appearance and feel great.
The pandemic has severely disrupted essential health services, triggered an increase in the prevalence of anxiety and depression, lowered global life expectancy, physical and mental health. The increased demand for the healthy products and increased awareness regarding the importance of personal physical fitness, maintaining a youthful appearance and hygiene has boosted the growth of the personal care products globally. The sedentary lifestyle of the consumers, busy and hectic schedules and stress are always major drivers of the health and wellness market.
The global health and wellness market was valued at 4.88 trillion in 2022, Lords expansion of product categories in health and wellness is in response customer feedback and the growing global demand which is project to reach over 7.65 trillion by 2030[1].
Lord's new launch of eighteen new GVB Biopharma SKU's offer many of the products in high demand, which promote well-being for all demographics. Utilizing our CBD tinctures Lords face serum and body lotion will help consumers maintain their youthful appearance and feel great. Our line of Lords Man Up and Lean Up lines provide everyday males the supplements needed to maximize drive, ambition, testosterone, and focus. Through our strategic supply agreement with GVB Biopharma Lords is explore offering new bundle packages for cost savings to the consumer, while introducing new high demand health and wellness solutions.
Chris Farnworth, CEO, and international business development chief strategist, said, " There is no bigger or concentrated marketplace than global e-commence. The goal is to position Lords brands as a one stop shop for your health and wellness needs, offering high quality products and a competitive price point. Lords is committed to an intimate understanding of our customers needs and the delivery of quality products to our consumers. GVB Biopharma does, an incredible job delivering high quality products at attractive prices. Their approach to rigorous testing, certifications, and continuous research into new product offerings is a perfect fit for Lord's brands current and future product vision."
About
GVB Biopharma - is a 22nd Century Group, Inc. (XXII), a leading agricultural biotechnology company dedicated to improving human health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technology, today announced the acquisition of privately held GVB Biopharma. As a contract development and manufacturing organization (CDMO), GVB is believed to be one of the largest providers of hemp-derived active ingredients for the pharmaceutical and consumer goods industries worldwide based on total tonnage.
GVB has industry leading market positions and expertise in all facets of the hemp/cannabis industry, which include:
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Research and genetics
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Proprietary cryogenic hemp extraction
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Refining, conversion, and product formulation technology
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Leading supplier of Active Pharmaceutical Ingredients (API)
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Low-cost, scalable manufacturing capabilities
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Regulatory and compliance expertise
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Industry trusted high-quality products
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Current international capabilities
GVB's strengths complement 22nd Century's existing upstream and downstream value chains, which includes expertise in cannabinoid receptor science with CannaMetrix, plant research and proprietary genetics through its KeyGene partnership, breeding expertise with Extracts, and cultivation capabilities at Needle Rock Farms. The combination with 22nd Century establishes a global one-of-a-kind asset to serve the rapidly growing hemp/cannabis ingredient market.
GVB expects 2022 revenue of approximately $48 million, a 58% increase year-over-year, gross margin in excess of 44% and positive cash flow. The transaction is expected to more than double 22nd Century's revenue, be immediately accretive to adjusted EBITDA, and generate positive cash flow from the acquired assets in the near term.
"We are excited to combine with 22nd Century group, pairing our production and manufacturing capabilities together with the best hemp/cannabis plant science in the world," said Phillip Swindell's, Chief Executive Officer at GVB. "Since 2017, we have built a loyal customer base and continue to add new, rapidly growing customers as demand in our industry accelerates. We sold more than five billion doses of CBD in 2021, and we look forward to further scaling our business as a part of 22nd Century's comprehensive platform."
GVB is widely regarded as a best-in-class operator with an estimated 15% share of the hemp-derived active ingredients market. The company is a trusted supplier to leading CBD and cannabinoid brands, including Cookies, Nuleaf and Canaxis Pharma. GVB's formulation capabilities and GMP certified facilities are uniquely suited to manufacture vastly improved pharmaceutical and consumer goods products that leverage and monetize 22nd Century's proprietary plant genetics and research capabilities.
GVB is also well positioned to lead international expansion, including multiple international joint ventures in Europe to co-develop and co-own processing and distribution companies aligned to market needs. GVB currently has offices in the United Kingdom and Brussels.
The company operates three manufacturing facilities in Oregon and Nevada, including a 30,000 sq. ft. hemp ingredient manufacturing facility in Central Oregon, a 40,000 sq. ft. white-label, finished product manufacturing facility in Las Vegas, and an industrial-scale hemp extraction facility in Prineville, Oregon.
About Lords
The "Lords" brand develops, produces and markets lifestyle apparel and natural health products through our e-Commerce platform to retail, B2B and B2C, consumers in North America and Europe utilizing its proprietary direct-to-consumer platform. Through continuous strategic white labelling, Lords has a strong footprint in the nutraceutical product markets.
ON BEHALF OF LORDS & COMPANY WORLDWIDE HOLDINGS INC.
(signed) "Chris Farnworth"
Chief Executive Officer
For further information, please contact:
Lords & Company Worldwide Holdings Inc.
https://lordsholdings.com/
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties, and other factors.
Statements about the Company's future branded lifestyle apparel are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain a Cannabis Act license in a timely manner or at all, the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Lords & Company Worldwide Holdings
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