Well-Positioned with Diversified Products and Multi-Channel Distribution for Growth in 2021
Hicksville, NY – (NewMediaWire) – February 02, 2021 – Can B Corp. ( ) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce an overview of highlights for 2020 and provide a preview for 2021. While the Covid-19 pandemic caused a decline in sales in 2020, Can B has increased its operating efficiencies and lowered expenses which may provide a reduction in operating losses in 2021.
Marco Alfonsi, Can B’s Chief Executive Officer, commented, “Our team is very excited for 2021 as we have made improvements in our capital structure and cash position to start off the year. We have built a solid vertically integrated platform for controlling our products from seed to sale with a multi-prong channel strategy in bringing health and wellness products to consumers. Our Duramed division is targeted to roll distribution into Michigan and in Florida. Additionally, we are in several discussions with potential corporate opportunities and strategic partnerships that may accelerate our growth.”
2020 Recap of Highlights
Closing of a $2.8 million debt financing from an institutional investor.
The investment enabled Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing A-1 offering, should provide the capital needed for the company to return to growth in 2021.
Pure Health Products is targeting GMP certification in early 2021.
Can B believes that every CBD manufacturer may be required to meet GMP Certification in the future. In addition, is in the process of securing additional white label customers as well as adding to its own branded line of products.
Tripled Production Capacity at its Facility in Lacey, Washington.
Allows for increases in private label and direct-to-consumer. Completed installation of new high-speed equipment to expand production at its Pure Health Products (“PHP”) facility in Lacey, Washington. The new production line equipment increases capacity by 8,000 units per day and adds speed and efficiency with automated processes. Upgrading from manual to automated equipment for tinctures, salves, cryogels, and massage oils greatly increase the production output by over three hundred percent (300%). The increase in capacity enables the Company to expand its capabilities for private label and direct-to-consumer products for other distribution companies and brands.
Expansion for its Division ultrasound program, the SAM Pro 2.0, to Michigan.
The revolutionary Sustained Acoustic Medicine (“SAM”) wellness solution is an FDA approved device proven to accelerate tissue healing, reduce chronic pain, and is reimbursable by health insurance companies. This marks the first availability of Duramed beyond its initial success in New York and New Jersey. The opening of Michigan was made possible for no-fault insurance via an agreement with an established medical equipment purveyor in Michigan.
Collaboration with Dr. Karl Zarse in launching ImmuneX2, a super immune boosting AM/PM supplement.
According to Dr. Zarse, a renowned certified member of the American Board of Interventional Pain Physicians, his product, , produced by Pure Health Products is correlated with optimizing your immune system before you need it. The product began shipping in late December. is a high concentration immune booster and is positioned for AM/PM dosing for consistent serum concentration. It’s pre-packaged for maximum convenience and offers free member access for ongoing education that updates in real-time.
In January 2020, Can B signed an exclusive license agreement with Lifeguard Licensing Corp. for the use of the well-known LifeGuard™ brand name and logo for a host of products that will include CBD and non-CBD formulations. This includes topicals, beverages, and ingestible products as well as a full line of sunscreens, lip balms, replenish supplements, and water. We have completed the 3D Design of the unique packaging of our “Skin Preserver” Sun Block line, as well as our Lip Balm line. The products are planned to launch in a value-add package with the unique and identifiable LifeGuard™ rescue buoy with lanyard rope. We’re currently working to finalize a manufacturer for our lip balm and lifestyle water line. Initial product renderings may be viewed at . The planned National Retail launch is by end of 2021.
Can B SuperFood – Phase I Completion of Production Upgrades
Can B installed new state-of-the-art, high-speed, automatic bottling and capping equipment and new bulk processing equipment for the production of the Can B Superfood line, which is now available at https://canbsuperfoods.com. This line allows for full in-house formulation and production for our high-quality Superfoods. We are also pleased to announce that with our new equipment installations, Phase One of upgrading the manufacturing capacity to triple the current capacity is complete. Phase Two is well underway. Phase Two will allow the PHP facility to become GMP compliant and pave the way for an anticipated growth as the country evolves from this COVID-19 pandemic crisis. Phase Two will also encompass the planned vertical integration of Pure Health Products as we have just received our second batch of pure isolate from our very own hemp production, Green Grow Farms, which will sustain our production and sales for the months to come.
Pure Leaf Oil brand products made available at Bargain Barns Inc. d/b/a United Grocery Outlet.
The initial product offerings are 3 oz. Roll-On pain relief products and the first order has been delivered and sold out in several stores. Pure Leaf Oil, a product of Pure Health Products, LLC, is fulfilling reorders currently. In business since 1974, United Grocery Outlets are a highly reputable closeout grocery merchant buying and selling most products sold in supermarkets. From its distribution center in Athens, Tennessee, it operates retail outlets in Tennessee, Georgia, North Carolina, Kentucky, Virginia, and Alabama. They currently operate 38 stores in 6 States.
About Can B Corp.
Can B Corp. ( ) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard® Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit: and , follow Can B Corp on and or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
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Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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