LAS VEGAS, NV--(Marketwired - Oct 26, 2016) - Efftec International, Inc. (OTC: EFFI) is pleased and excited to announce an agreement in principle to acquire HempLife® Industries, a rapidly growing distribution, marketing and sales company focused on consumer based hemp products. HempLife® Industries is based in the Midwest, in the Southern Indiana, Kentucky and Tennessee area which is undeniably the center of the growing industrial and consumer based hemp industry.
HempLife® Industries was founded by Mr. Anthony Skinner who brings over 20 years of experience involving all aspects of the marketing, sales and distribution of commercial hemp products.
Efftec International, Inc. will acquire HempLife® Industries' large and impressive portfolio of Trademarks and Web Domains, including NativeHemp™, CannaBoost™ and many other great brands which can be used as we develop our hemp and related markets businesses. This agreement involves a combination of cash and restricted stock and will be immediately accretive to revenue and earnings while improving our balance sheet by adding new and valuable assets.
Dr. John Morris Jr, CEO of Effect International commented, "This agreement allows us to add immediate value to our shareholders by improving our balance sheet while increasing sales and earnings with little overhead. In addition, we see tremendous synergies between Efftec's core businesses especially within "Red Light Bakers" with Hemp Life's core competency."
Efftec International, Inc. (OTC: EFFI) is a holding company whose mission is to continue its steady growth and become a market leader through strategic acquisitions and organic growth. The company's core business focus is on sales of hardware and nutrients into the hydroponics and indoor growth markets.
This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (I) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).