Following a major new announcement on Tuesday, it is quite likely that the Real Brands Inc (OTCMKTS:RLBD) stock is going to come into focus among investors today and hence, investors could do well to take a look at the announcement that was made yesterday.
On Tuesday, RLBD stock ended flat at $0.0110 with more than 1.56 million shares, compared to its average volume of 407.65K shares. The stock moved within a range of $0.0099 – 0.0120 after opening trading at $0.0110.
Real Brands Signs Definitive Agreement for the Acquisition of Boulder Botanical & Biosciences Laboratories Assets
The company announced yesterday that it had inked a definitive agreement with regards to the acquisition of all the assets of the firm Boulder Botanical & Biosciences Laboratories Inc from Frankens Investment Fund LLC. Frankens had actually acquired Boulder Botanical back in April earlier on this year. Boulder Botanical is involved in white label and private label manufacturing of sports medicine herbal supplements and wellness products.
In this regard, it should be noted that the acquisition is also going to be inclusive of both the human and pet market products that are manufactured by Boulder Botanical. In addition to that Real Brands is also going to get the intellectual property and the research and development facility in Golden, Colorado spanning 27,000 square feet that belong to Boulder Botanical. The transaction is valued at as much as $12 million and on top of that, an operating capital commitment of $1 million has also been made.
Thom Kidrin, President & CEO of Real Brands Inc., stated, “Boulder Botanical has had an excellent reputation for creating quality sports medicine, health and wellness herbal supplements and cannabinoid formulations and its white-label manufacturing services exceeding industry standards. We expect to build upon that solid foundation. Boulder Botanical’s existing national distribution network serving CVS, Target, Costco, and other retailers, combined with Real Brands’ expertise in online sales and the metaverse, enables ready access to millions of existing customers and millions more potential customers online and in person. With this acquisition, we have increased our production capacity by 300%, have added a portfolio of 150+ brands, extensive IP, and a skilled R&D team to create hundreds more products to meet the demand of the burgeoning herbal supplement and CBD markets.”
RLBD stock is trading below the 20-Day and 50-Day Moving averages of $0.0129 and $0.0144 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0263. The company has a total market capitalization of $29 million.