NEW YORK, Nov. 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Sun Kissed Industries Inc. (OTCMKTS:SKDI) (“Sun Kissed”, “SKDI”, or the “Company”), an emerging player in the CBD marketplace, is excited to announce that its soon-to-be subsidiary, Hakuna Supply/Products Group, Inc. (“Hakuna” or “Hakuna Supply”), an award-winning CBD-based products company, is releasing for sale its new “Fingerprint Lock Box” biometric sensing storage device for cannabis, hemp, and CBD products in time for the 2019 Holiday Shopping Season.
Sun Kissed and Hakuna are nearing the signing of their Definitive Agreement, by which Sun Kissed will acquire 100% of the issued and outstanding shares of Hakuna, a private CBD products leader booking strong revenues with over 110 established retail distribution partners across more than 20 states in the domestic US market.
“I’m truly excited that the Hakuna acquisition appears set to be finalized sooner than expected as Hakuna continues to roll out powerful new products,” stated Carl Grant, CEO of Sun Kissed. “As we get ready to close the acquisition, our attention will quickly turn toward marketing the many award-winning top-tier products Hakuna has crafted, with this beautiful new state-of-the-art biometric sensing Fingerprint Lock Box representing yet another success story as shoppers get set for the Holiday Season.”
Management notes that the new Hakuna Fingerprint Lock Box sits at the intersection of major market trends, with the biometric sensing market already projected to grow from $3.5 billion in 2019 to $7.1 billion by 2024 at a CAGR of 15.3%, according to recent research from MarketsandMarkets, and overall sales within the legalized U.S. cannabis industry expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018, according to New Frontier data.
The Fingerprint Lock Box is a perfect holiday gift idea, with a sleek and stylish look, and a robust design built to keep products safe and secure behind a lock controlled through a fingerprint-triggered biometric sensing mechanism, with an included back-up metal key for extra assurance. The box can be charged by a USB-compatible, portable, removable wireless charger located at its base.
“We are working closely with Hakuna to provide for a smooth transition as we get set to integrate Hakuna’s operations and prepare to invest in growing the company into one of the biggest CBD players in the US domestic market,” continued Mr. Grant. “That shouldn’t be a stretch given the company’s massive existing distribution footprint and its award-winning product line. We look forward to updating current and prospective shareholders as events transpire.”
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTCMKTS: SKDI) is an emerging leader in the CBD-based products marketplace. The Company is pursuing meaningful acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in a well-defined, high-growth niche within the rapidly expanding CBD sector.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements, including information about management's view of Sun Kissed Industries Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
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