Turner Venture Group announces agreement to acquire Hemp / CBD Company

AUSTIN, TX / ACCESSWIRE / January 3, 2022 / Turner Valley Oil and Gas, Inc. (the “Company”) (“Turner”) (OTC PINK: TVOG), now doing business as Turner Venture Group, Inc., is pleased to announce the acquisition of ‘A Hemp / Consumer Packaged Products Company (CPG) CBD (“Hemp Operator”) operating with 3 existing retail stores and a national commercial presence in e-commerce.

Retail locations

Since hemp / CBD became federally legal in 2018, this hemp operator has expanded to 3 retail outlets in the greater Houston market. The hemp operator’s retail outlets have allowed it to establish a loyal following, brand identity, product testing and gross profitability. The hemp operator has established a credit card merchant account and operating account for this business through a local federally insured community bank.

These locations served as case studies to model expansion potential by management to plan expansion to 10 locations in the short term, subject to funding and strategic direction. This footprint will boost sales and profits, but will also help establish a strong retail presence in the event of future reform leading to new product opportunities.

Production and product development

The Hemp Operator is an integrated manufacturer and distributor from seed to shelf of its full line of products. All products are made in the USA with ingredients made in America. The hemp operator has developed more than 100 products that have passed testing via Certificate of Analysis (“COA”) and other regulatory steps required to be able to sell in all 50 states. These products include tinctures, pain relievers, flowers, lotions, bath salts, edibles, drinks, and various other products that include their own recipe for CBD or other compounds.

Palliative Care Trials (Wholesale)

It is exciting to include that this hemp operator has started a trial with a major hospice provider who, upon completion of their trials, may be looking to expand their own brand of hemp, CBD and related products as a wholesale / white label operation. The intention of this group is to offer alternative CBD supplements to their patients as an alternative to traditional pharmaceutical treatments.

The story continues

Verification plans

Briggs & Veselka Co. has started the audit of the financial statements of the company within the past two years and supports the completion of the required SEC filings needed to move up to the OTCQB market. Add a link to their website.

Growth plans

The hemp operator wants to develop his business through a multi-pronged approach. This includes the establishment of wholesale distributors, increased e-commerce efforts, white-label customer programs, and additional outlets. Management strongly believes that sales can be accelerated profitably by providing full distribution opportunities with existing retail outlets and distributors of similar industrial products. These industries include not only current CBD outlets, but cosmetic, medical, and wellness products as well. There are also opportunities in the physiotherapy sector.

Closing steps

Turner has finalized its preliminary agreement to complete the acquisition. As part of the close-out process, Turner will initiate advanced due diligence, audits of the hemp operator activity, final legal documents such as management agreements and terms and conditions via purchase and purchase agreements. sale and various other requirements. These will be filed through the company’s website, OTC markets, press announcements, and EDGAR filings as needed or as authorized.

Management

In order to prepare for this acquisition and expand Turner’s operational team, James B. Smith has appointed Jordan P. Balencic, DO as CEO and Chairman of the Board, both effective January 1, 2022. The Dr Balencic is a doctor. entrepreneur with over 10 years of entrepreneurial experience in the health and wellness industry. He brings both experience in public and private companies in several sectors, including health, food and beverage and creative services. “As a former Turner Business Advisor, I am deeply honored and proud to join the team in this capacity,” said Dr. Balencic. long-term growth strategy. It is estimated that upon closing of this acquisition, a new COO and General Counsel will likely be appointed.

Interested parties

Additional information about the hemp operator and our current Reg D private placement can be obtained by contacting the company directly at [email protected] Interested parties will be required to sign a non-disclosure and non-circumvention agreement to protect the fidelity of our agreements with the operator as we go through the close and onboard process.

Please refer to the most recent announcements on the website for more information:

https://tvoginc.com/industry-news/turner-news/

About Turner Valley Oil and Gas, Inc.

Turner (OTC: TVOG) is a Venture Holding Company that acquires stakes in innovative products and companies in the hemp, health, wellness, sanitation, infrastructure and supply chain technology segments. ‘supply. Turner’s acquisition of Bloomi Labs, LLC has formulated a nationally made CBD hand sanitizer. The Company’s second acquisition includes an established CBD / Hemp operating with 3 existing retail stores and a nationwide e-commerce sales presence.

Disclosures

Certain statements contained in this press release are forward-looking and involve a number of risks and uncertainties. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.

Key links:

OTCMarkets Profile: http://www.otcmarkets.com/stock/TVOG/profile
Warning: https://TVOGinc.com/contactus/disclaimer/
Company Website: http://TVOGInc.com | http://BloomiClean.com
Twitter: http://twitter.com/tvoginc | http://twitter.com/BloomiClean
Facebook: https://www.facebook.com/TVOGinc/
LinkedIn: https://www.linkedin.com/company/TVOGinc/

Contacts:

Dr Jordan Balencic, CEO
Turner Valley Oil and Gas, Inc.
Address: 5900 Balcones Drive, Suite 4503, Austin, TX 78731
Phone: 1-830-291-8189
Email: [email protected] or [email protected]

THE SOURCE: Turner Valley Oil and Gas, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/680585/Turner-Venture-Group-Announces-Acquisition-Agreement-of-Hemp-CBD-Company