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ORLANDO, Fla., Sept. 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Elev8 Brands, Inc. (OTCQB: VATE), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages along with an array of CBD topicals and tinctures, announces a new hemp infused single serve coffee as well as advancement into CBD whole bean coffee.
Elev8 Hemp, LLC is eager to expand its coffee presence into the single serve market. The Company has received many requests over the past year and is very pleased to be rolling out these new products. The roll out will being in October with its House Blend and Pumpkin Spice hemp coffees. The remaining flavors will be introduced in the middle of the fourth quarter.
According to Statista, recent figures show single-serving coffee brewing machines such as Keurig were the second most popular brewing system after the standard drip coffee makers. These figures report 26 percent of American coffee drinkers using single serve machines in 2018.
Ryan Medico, CEO of Elev8 Brands, Inc., stated, “This was always our plan to expand into the single serve market. As exciting as this is, we are also very pleased to be creating a CBD infused whole bean coffee. We plan to enter as many areas with coffee and tea as possible and this was an integral piece that we were missing. We plan to have this product available by November.”
Blessed Bean Coffee, LLC has seen substantial growth in 2019. By customer demand, the Company has entered the single serve private label market by purchasing its own automated single serve cup machine capable of producing up to 1200 cups per hour.
Robie Leavitt, President of Blessed Bean Coffee, LLC, stated, “We are anticipating another spike in revenues with this new single serve machine as we did when we launched our private label drop shipping program back in July. We have since obtained several new private label customers and secured a large two-year contract. The plan in the fourth quarter is to purchase a larger roaster to keep up with this growth leading into 2020.”
Elev8 Brands has seen growth this year in both Elev8 Hemp as well as Blessed Bean Coffee. Elev8 Hemp’s revenues year over year is currently over 85% growth rate. The introduction of its CBD whole bean coffee, hemp infused single serve coffees and the expansion of the ready to drink CBD infused beverages are just a few of the reasons the Company has forecasted revenues of $400,000 in the fourth quarter. Elev8 Hemp’s network currently consists of 18 distributors throughout 12 states.
Medico concluded, “In the third quarter we made some significant changes to our brand across the board. We took the time to do this now so we will be prepared for the next several years of growth. Its is very exciting to see multiple new products coming out of Elev8 Hemp in the upcoming months as we will see all our hard work come to fruition.”
About Elev8 Hemp, Inc.
Elev8 Hemp’s mission is simple: craft the highest-quality, organic hemp products for consumers in search of a healthier, happier lifestyle. Everyone needs to get the proper amount of healthy proteins to keep them feeling better and more energetic. We source only the best organic hemp protein powders—naturally full of powerhouse amino acids and Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with an abundance of minerals, vitamins, antioxidants, and fiber.
Mother Nature creates this pure hemp with a rare, perfect balance for optimal nutrition and exceptional taste. Elev8 Hemp takes these raw, natural products and transforms them into delicious CBD-infused beverages that will become your new favorite daily drink. CBD-infused coffees and teas are our specialty, and we take our mission very seriously. Let us do what we do best and let achieving a healthier lifestyle be as simple as remembering your morning cup.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.