Rocky Mountain High Brands Inc (OTCMKTS:RMHB) has signed a 3-year consultancy agreement with Eagle Processing & Distribution. As per the terms of the accord, Eagle Processing will assist Rocky Mountain in arranging the financing for production, inventory, purchase orders; logistics and order fulfillment; marketing, sales and distribution, risk management, customer service, and production of all the products.
Eagle received 50 million shares
As per the rule 144, Rocky Mountain has issued 50 million shares to Eagle for the services rendered in the initial eight months of the agreement. The company will negotiate compensation for the balance term.
Benefits of agreement with Eagle
Rocky Mountain expects to enjoy a reduction in overhead costs related to contractors, wages, storage, rent, insurance costs, and logistics because Rocky Mountain will bear these costs. CEO and President of Rocky Mountain, Michael Welch, said the company gets access to technical expertise, management expertise, supply chain, co-packaging capabilities, and sales and distribution channels of Eagle.
CBD Life unveils beverages in Mexico
On April 20, 2020, CBD Life has introduced California Saber Te Negro, California Limonada, and Rocket High in Mexico. With this launch, both Rocky Mountain and CBD Life have achieved a significant milestone. According to Michael, Rocky Mountain has introduced the beverages manufactured for CBD Life in Mexico under the Master Manufacturing agreement. CBD Life has created a marketing campaign and innovative look for these beverages. Michael said the inspirational marketing, great taste of the beverages, and distribution channels will make them a big hit. Also, the agreement with Eagle will provide expertise in manufacturing that helps Rocky Mountain to meet the production needs of CBD Life.
Rocky Mountain has moved into normal production run at its copacking facility. The company will ship ten truckloads of beverages that comprise California Black Tea, California Lemonade, and Rocket High from this production facility.
Creates an exploratory committee
The board of directors of Rocky Mountain has approved to create an exploratory committee to explore the possibility of building a supply chain in Puerto Rico to manufacture Rocky Mountain products and white label/ private label products for other firms. The team of Rocky Mountain has met the officials of the Department of Economic Development and Commerce in Puerto Rico to discuss the benefits of conducting business in Puerto Rico.