Leafbuyer Technologies Inc. (OTCMKTS:LBUY) has announced the signing of a non-binding letter of intent for the acquisition of majority interest in CBD.io a trade show operation based in Las Vegas. CBD.io runs one of the biggest and most evident expos in the Vape and CBD industries.
Leafbuyer to leverage CBD.io’s financial model for profitability
The agreement also includes an ownership interest in an e-commerce platform for the retail and wholesale sale of CBD. CBD is a non-psychoactive cannabinoid that is prevalent in cannabis that research has shown can help in relieving anxiety, pain as well as other ailments.
Leafbuyer Technologies CEO Kurt Rossner said that CBD is growing to become a widespread phenomenon in pop culture whose trade indicates that the industry is productive and still unsaturated. He added that that CBD.io is a company that is profitable and has demonstrated that its financial model can increase the company’s top line and thus help in growing Leafbuyer’s earnings.
Rossner said that the upside of the acquisition is the capability for Leafbuyer gaining incredible brand exposure from one of the fastest growing segments in the cannabis industry. In 2019 CBD.io sold close to 200 booths, and in 2019 the company plans to cross-sell the platform to more than 400 clients a figure they will expect to double.
Leafbuyer positioned to offer clients more value
The CEO asserted that the company is well positioned to offer its customers a true 360 solution. Leafbuyer’s product clients can get access to millions of potential consumers through the in-person and digital methods to whom they can create brand awareness and thus increase profits.
CBD.io CEO Robb Hackett stated that last year the company hosted one of the biggest and most successful CBD and hemp industry expos in the US. He added that in 2019, the company is expanding its reach with a focus on educational series and more speakers as well as host almost double the booths and offer clients more value in the trade shows. Currently, CBD is a hot product in the US and focus in now to expand trade shows to Asia and Europe by 2020.