Purpose-driven beauty and wellness firm, Element Apothec, announced on September 7, 2022, announced an official partnership with cannabis parent company, CBD of Denver (OTCMKTS:CBDD). The company is the owner of multi-brand cannabis eCommerce and marketing company mellow.
On Wednesday, CBDD stock slid 3.85% to $0.0025 with more than 6.72 million shares, compared to its average volume of 17.14 million shares. The stock moved within a range of $0.0025 – 0.0026 after opening trade at $0.0026.
Element Apothec Announces First European Partnership with CBD of Denver
Mellow Group is operating as a multi-brand e-commerce marketplace as well as a complete service digital & performance marketing agency. This firm was recently acquired by CBD of Denver.
Mellow will be distributing the company’s collection of wellness and premium beauty products. It features categories including topicals, tinctures, and natural skincare products. The master distribution agreement includes the distribution and launch of the Element Apothec line of products in Europe and the UK. Element Apothec will be developed as a global recognition for authentic brands and quality ingredients.
Paul Gurney, CEO of CBD of Denver said that the company is excited about welcoming Element to its mellow portfolio in Switzerland and Germany. The CEO added that the agreement will combine technology and retail for enabling mellow to continue the award-winning work achieved by Element in other markets. As per Gurney, it will position Element as a leading luxury hemp-based beauty as well as wellness brand in European markets.
Element Apothec Co-Founder and CEO, Davina Kaonohi said that building global beauty as well as wellness brand based has been a dream. The CEO said that the partnership with mellow will make this a reality.
“We are extremely excited to welcome Element Apothec to the mellow portfolio of brands in Germany and Switzerland. This agreement will combine retail and technology/e-commerce distribution to enable mellow to continue the award winning work that the Element Apothec team has achieved in other markets, and in doing so, will position Element Apothec as the leading luxury hemp-based beauty and wellness brand in the European markets. There is no other company present in the industry in Europe with an offering close to that of Element Apothec. We have much more in store ahead,” said Paul Gurney, CEO of CBD of Denver.
CBDD stock is trading below the 20-Day and 50-Day Moving averages of $0.0027 and $0.0032 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0037. The company has a total market capitalization of $210K.