In a recent press release, HeavenlyRx announced that it has entered into a letter of intent to acquire Pure Kana, a top-ranked national CBD brand. The acquisition is expected to close by the end of 2019.
According to the press release, PureKana is a “rapidly growing” CBD brand that is located in Scottsdale, Arizona. The company has a large consumer base, which include a large demographic of youth. As for the brand’s CBD products, they are derived from organic-grown hemp that is free from genetically modified organisms. Once the hemp is harvested, it is processed and undergoes an extraction process. The end product is a rich and ultra-concentrated CBD formula.
HeavenlyRx CEO Paul Norman shared in the press release,
“PureKana has grown into one of the most important brands in the CBD industry. With a dynamic entrepreneur and business leader like Cody Alt leading the helm, his vision to bring PureKana into the mainstream is a great fit for HeavenlyRx. PureKana's powerful online presence when combined with our reach to distribution into mainstream channels will create a leading player in the marketplace.”