KELOWNA, BC--(Marketwired - Aug 26, 2016) - Laguna Blends, Inc. (CSE: LAG) (OTC: LAGBF) (FRANKFURT: LB6A.F) (the "Company" or "Laguna") is pleased to announce a first tranche closing of its it non-brokered private placement (the "Private Placement"). The first tranche closing consisted of the issuance of 1,627,200 units at a price of $0.25 per unit for gross proceeds of $406,800. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.40 per warrant share until August 25, 2017.
All securities issued under the first tranche are subject to a hold period expiring four months and one day from the date of issuance.
In addition, the Canadian Securities Exchange has granted the Company an extension for the filing of final material with respect to the Private Placement to October 7, 2016. It is anticipated the Company will close the final tranche of the Private Placement on or before this date.
About Laguna Blends Inc.
Laguna is a network marketing company that generates retail sales through independent affiliates. Affiliates utilize tools and technology that enable them to build an international business from their own home or anywhere else in the world. This technology replaces the need for expensive travel and hotel meetings.
The Company is currently focused on the nutritional health benefits derived from hemp and CBD's.
Laguna's first product category as an entry to market are functional beverage products that contain hemp and other efficacious ingredients.
- "Caffe" is an instant, "just add water" hot coffee beverage that is infused with both whey and hemp protein. With 2 grams of protein in every serving, Laguna's proprietary product packs a powerful protein punch. Caffe, contains Instant coffee, whey protein hydrolysate, hemp protein, natural flavors.
- "Pro369" is a single serving, "on-the-go," plant based, instant, hemp protein that is served cold and comes in 4 delicious flavors. Pro369 is water soluble and can be directly mixed in water, added to milk, almond milk or coconut milk. Pro369 can also be blended in a shake or smoothie. Pro369 is also a source of Omegas, 3, 6 and 9 and contains ginseng.
Laguna Blends has been granted approval from Health Canada for four powdered Pro369 flavours: Chocolate Banana, Mixed Berry and Vanilla Caramel and Tropical Powder. Pro369 contains Hemp protein, natural flavors, stevia, and American ginseng.
The Minister of Health from Health Canada has granted Laguna a product license along with a Natural Product Number ("NPN") for all four of the Pro369 Flavours. They are all listed under the same NPN.
- A source of protein that helps build and repair body tissues.
- Source of amino acids involved in muscle protein synthesis.
- Assists in the building of lean muscle.
- An adaptogen to help maintain a healthy immune system.
- Supportive therapy for the promotion of healthy glucose levels.
The Company's second product category are Swiss made CBD Skin Care products, "CannaCeuticals."
Laguna has signed a distribution agreement with ISO International, LLC, a transaction under which Laguna has acquired the exclusive right to market, promote and distribute seven CBD skin care products of CannaCeuticals of California, USA ("Canna").
CannaCeuticals Swiss heritage is at the core of Canna's revolutionary skincare products. Its pure, cosmeceutical-grade CBD extract hails from the crisp, clean air of Switzerland, but Canna's heritage goes much further than that. Swiss culture is known for its precision and perfectionism, and CannaCeuticals radiates that same standard in every formula it produces. Canna's team of formulators are made up of chemists and product developers that analyze every detail, sourcing ingredients from all ends of the earth to create the most balanced, highly efficacious, anti-aging CBD skincare products in the world.
CannaCeuticals CBD7 anti-aging skincare products incorporate cannabidiol (CBD), a superior antioxidant and a potential anti-inflammatory agent, both of which are significant in anti-aging. Canna's Swiss heritage influences a sense of unity in its products, and it combines CBD with other essential anti-aging ingredients to create formulas that pack a powerful punch.
Hemp has long been recognized by the health and nutrition industry as a super food, cited in many publications as a balanced source of all ingredients required to achieve health and wellness.
HempOmega® is an environmentally sustainable, vegetarian source of Omegas 3 and 6 that boasts a superior nutrient profile. A water soluble, homogenous, powdered ingredient, it can be easily integrated and/or manipulated, with no unpleasant taste or chemical contamination -- opening up entirely new product formulation opportunities. Hemp Omega's greater ability to endure the digestive process delivers unmatched bioavailability, thereby maximizing its potential health benefits.
The Company currently sells its products through its independent affiliates in the USA and Canada.
HempOmega® is a Trademark owned by Naturally Splendid Enterprises, Ltd. and is used under license by Laguna Blends Inc.
ON BEHALF OF THE BOARD
Chief Executive Officer
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This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future the Company's business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. The statements in this news release are made as of the date of this release.