American Premium Water Corp. (OTC:HIPH) Announces Exploration of Strategic Alternatives for FashionCoinX and other Crypto Assets
PLAYA VISTA, Calif., May 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – American Premium Water Corporation (OTC: HIPH) (“APWC”) announces that it is seeking to explore strategic alternatives for the FashionCoinX platform and the THRD coin utility token. The Company has begun preliminary discussions on structures that would maximize shareholder value for the assets.
CEO American Premium Water Corporation, Ryan Fishoff commented, “In an effort to further the Company’s mission to become the worldwide leader in producing and marketing consumer CBD products, the Company is exploring strategic alternatives for FashionCoinx and THRD Coin. A year and a half ago, with the Company more focused in the fashion space, these assets made sense. However, over the past year the Company has shifted its focus towards becoming a global leader in CBD-infused products. These assets (FashionCoinX and THRD Coin) are not in alignment with the current strategic direction. We have begun preliminary discussions with companies already in the sector, with a potential structure that will maximize shareholder value. It has also become clear in discussions with advisors over the past few months that having these assets in the Company’s portfolio will inhibit the long term goal of uplisting to the NASDAQ by the end of 2020. We are just at the beginning of this process, but it will not distract the Company from executing its business plan, which is focused on increasing brand awareness and distribution of all its products in the US and Europe.”
The Company has committed significant resources towards European expansion. According to a recent report by the Brightfield Group, one of the pre-eminent CBD research organizations, the European market for CBD products is expected to grow 400% through 2023. Since the beginning of 2019, the Company has been heavily focused on the region, setting up a sales team that has successfully secured a large, two-container order with a UK distributer, an agreement with Lynne Franks (www.lynnefranks.com) to jointly develop CBD-infused women’s well-being products, and the partnership with Hanlon’s Brewery (www.hanlonsbrewery.com) that successfully tested a CBD-infused beer prototype, which is slated to go into full production later this year. Mordor Intelligence estimated, the European beer market is estimated to be around $185 billion in annual dollar volume. The Company joins industry giants like Constellation Brands, Molson Coors and Heineken, all whom have announced plans to manufacture non-alcoholic CBD and THC beers.
“The Company was a market front-runner focusing on the nascent European and British CBD market. We saw the opportunity before most, and our focus on this region has already paid dividends for the Company. Our team has done a great job getting a head start over there; the Company is well positioned to capitalize with the many partnerships across multiple product categories that we have. Aside from what has been announced, the Company is engaged in other discussions that I believe could yield significant upside in the near and long term should they come to fruition. Our focus on the UK and Europe has not come at the expense of our efforts stateside. The Company continues to engage distributors for its products and has had many positive conversations, specifically about our Lalpina’s new 20mg CBD infused water. The Company has also fast-tracked development of the CBD Pet Water in partnership with LinkRes Pets. I am hopeful that I will be able to provide an up on the development of a prototype soon. The launch of Vanexxe (www.vanexxe.com) has been successful, and we are currently in talks a number of large retailers about distribution. While the Company is focused on expanding distribution, we are also continuing to evaluate acquisition opportunities. Any opportunity must fit within the Company’s strategy to becoming the worldwide leader in the production and marketing of CBD-infused products. Any potential transaction will be judged how it holds against that criteria and if it will enhance shareholder value. I look forward to providing shareholders with updates in the near future on progress on all these discussions,” concluded Mr. Fishoff
About American Premium Water Corp.
American Premium Water (OTC: HIPH) is a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of hydrogen and Nano technologies paired with cannabidiol (CBD) to treat health disorders and enhance quality of life. This business model aims to market emerging fashion brands by leveraging classic retail partners and incorporating disruptive blockchain technologies to expand the retail footprint. The company’s portfolio includes the LALPINA Hydro and LALPINA Hydro CBD brands (www.LalpinaInc.com), LALPINA Productions, LALPINA Records, Canyon Create (www.canyoncreate.com), Vanexxe (www.vanexxe.com) and Gents (www.gentsco.com).
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation.
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