CARLSBAD, Calif., Dec. 21, 2018 /PRNewswire/ -- Radiant Creations Group (RCGP) announced today that it has entered into anagreement to acquire 100% of the outstanding shares of NEWYOU, LLC. in exchange for common shares of RCGP. The transaction has been unanimously approved by the Boards of Directors of both companies. NEWYOU, LLC. (newyounow.com) is a leading marketer
"We are delighted for the merger of these two organizations," CEO Ray Grimm said. "The CBD market in the U.S is growing exponentially. According to cannabis industry analysts the Brightfield Group, the U.S. hemp-derived CBD market has nearly doubled in size between 2017 and 2018, and a new estimate indicates the hemp-CBD market alone could hit $22 billion by 2022. Timing and growth couldn't be better for us and we are moving rapidly to take advantage of the momentum."
In the last few weeks, the growth of the hemp-CBD market saw a major boost with the official passage of the long-awaited 2018 Farm Bill, which legalized industrial hemp—cannabis that contains less than .03% THC. The removal of hemp from the controlled substances list is a victory for farmers, enthusiasts and the growing number of companies in the hemp-CBD marketplace.
Details regarding any further new business models and/or acquisition for the Company will be disclosed when implemented.
Safe Harbor Act: Statements in this press release that are not based on historical fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. We believe the expectations reflected in our forward-looking statements are reasonable, although we cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including risks related to our ability to raise additional capital, liquidity, revenue growth, operating results, industry, regulations, technology and products, any of which could cause us to not achieve some or all of our goals, or cause our previously reported actual results and performance to change or differ from future results, performance, or achievements, including those expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this press release, and we undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release, unless otherwise required by law
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SOURCE Radiant Creations Group
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