TULSA, OK, June 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Limitless Venture Group, Inc. (OTC PINK: LVGI), through its wholly-owned subsidiary, Summit Harbor Holdings, Inc. (SHHI), has acquired 100 percent of Black Ghost Enterprises LLC and its subsidiaries Boo Beary Products and One Way Holdings.
Boo Beary Products LLC (BBP) is a company created by Eddie “Boo” Williams, former NFL Tight End for the New Orleans Saints and the New York Giants. After leaving the NFL, Williams discovered the health benefits of hemp and created a line of high-quality, health grade CBD products to relieve ailments related to his football injuries.
After experiencing relief and better physical and mental health, Williams made it his mission to help others experience the same relief through access to his premium CBD health grade products. Boo Beary Products is currently generating revenue with three products that can be found in several locations across Florida and Louisiana, and has several dozen additional products ready for manufacturing.
All products are produced by Gamma Pharmaceuticals in Miami, Florida under ISO certified standards and cGMP. BBP products are third-party tested by Evio Labs and are health grade. Early stage sales have exceeded $30,000 and are predicted to skyrocket with the help of Green Ocean Company, a marketing firm and subsidiary of SHHI specializing in online and social media marketing.
Green Ocean Co. (GOCo) has already begun to redesign the branding and marketing strategy for BBP products in preparation for an upcoming national marketing campaign that will feature Boo Williams as the brand representative. GOCo has taken on the challenge of scaling BBP with great excitement. Their strategy is designed to drive sales and includes a web-based ordering platform for online consumer retail purchase, as well as business to business wholesale sales for national distribution.
Boo Williams has graciously agreed to stay on as CEO of Boo Beary Products in order to promote the BBP brand through his many community and NFL connections. “I’m looking forward to this partnership with LVGI because I know we can do great things and help a lot of people. Together we’re going to take things to a whole new level,” Williams stated.
As part of the acquisition of Black Ghost Enterprises and its subsidiaries, LVGI has established a partnership with Boo Beary Kares (BBK), a 501(c)3 nonprofit corporation that is diligently working to meet the needs of others across the United States. Boo Williams formed BBK in 2018 and will remain CEO.
Boo Beary Kares is currently working on Logan’s Retreat, a temporary housing facility for many families who were displaced by the hurricanes along the Florida and Gulf coast. Along with major donations, a portion of every BBP product sold will help to support the building and long-term management of Logan's Retreat.
LVGI and SHHI are excited to partner with BBK to help the families who are still experiencing the devastating effects of those storms and to work with other BBK projects. “We are incredibly excited about the financial future of LVGI and SHHI, but we are equally pleased with the opportunity to advance the social mission of LVGI and give back through this new partnership with Boo Beary Kares,” stated Joe Francella, CEO of LVGI.
Compounding LVGI’s partnership with BBK, SHHI subsidiary Emergent Design Build LLC (EDBS) has been contracted to design Logan's Retreat. EDBS’ preliminary designs have already been approved and are currently awaiting bids and will include unique design and construction elements that will utilize many hemp based products that are currently on the market.
Through SHHI's memorandum of understanding with Ceramic Cement Corporation and with additional research and development from EDBS, it is our intent to utilize as much hempcrete, hemp insulation and any additional hemp building products possible for Logan’s Retreat.
The hemp components will provide the aesthetics, insulation, and other benefits only hemp-based products can offer. EDBS is doing great work to drive revenues for LVGI and they are a major contributor to the success of BBK’s Logan’s Retreat project.
Finally, the acquisition of Black Ghost Enterprises also includes its subsidiary One Way Holdings. One Way Holdings is a funded investment operation focused on the selection and purchase of development projects across the U.S. for the building and sale of hemp residential and commercial properties.
One Way Holdings is a critical component to taking hemp construction to the next level and also brings with it a significant footprint in the states of Arkansas, Tennessee, and beyond as we move into ideal hemp fiber producing areas.
Matt Habuda, COO of SHHI says, "The acquisition of Black Ghost Enterprises is fantastic. Not only does SHHI now have access to produce and distribute top quality, high grade, tested and approved CBD products with a well known national spokesperson for Boo Beary Products, it also launches our entrance into hemp building and the hemp products industries."
Joseph Francella, CEO of LVGI adds, "this acquisition brings about another piece to achieving our goal of creating a fully diverse and fully integrated company of industrial hemp and hemp products.”
The vision of SHHI continues to develop into the machine we hoped it would. SHHI continues to build a two vertical system focused on industrial hemp infrastructure and hemp product development. We are very excited that this mission is already being worked diligently by all of the SHHI subsidiaries.
PROJECTED Q4 REVENUES
LVGI continues to execute its mission to leverage the public aspect of our company to generate working capital for the execution of additional projects in the works. These additional revenue generating methods include: consultation, ancillary farming and processing operations, and product R&D and testing. These steps are being taken to ensure LVGI achieves target revenues on an ongoing basis.
With this continued growth for LVGI, we fully expect to top $400,000 dollars in revenues for the fourth quarter, which includes pipeline revenue, inter-company billings and in-record revenues for LVGI. “This is record annual, let alone quarterly revenues, and it’s only getting bigger and better,” Francella added. We expect these SHHI subsidiaries to grow their respective businesses and revenues exponentially next fiscal year, along with explosive revenues from our farming operation under our wholly-owned subsidiary New Horizon Farms.
BooBeary Products Integration Timeline:
- Product line rebranding
- National launch
- Projected Revenues -$50,000
- Wholesale distribution strategy launch
- Product line expansion
- Projected Revenues - $150,000
- Brand expansion continues
- Additional product line expansion
- Projected Revenues - $300,000
Boo Beary Products Projected Quarterly Revenues (July-September 2019): $500,000
Please stay engaged with us as we continue on this journey by visiting our websites at www.lvginc.com and www.summitharbor.com. Also be sure to follow our company Twitter feeds @SHHINC and @LVGINC_, as well as the feeds of our executive team @mhabuda and @joeceolvgi to be kept abreast of our latest achievements and operations.
Forward-Looking Statements: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
For more information, contact: Elizabeth King Elizabeth@ElizabethKingConsulting.com.