For The Earth Corporation (OTC Pink: FTEG) operates as an emerging CBD producer, marketer, and retailer within the United States. Shares of the CBD company skyrocketed 366.67%, during trading on Monday, February 25, 2019. Over the past month, For The Earth Corporation has seen average daily volume of 66.38 million shares. However, volume of 977.25 million shares or dollar volume of $1.37 million, exchanged hands during trading on Monday.
Shares of For The Earth Corporation soared on Monday, after the company announced it is in the final stages of transition its business model to focus on vertically-integrated CBD operations. The company is focused on continuing to expand its retail footprint through its network of end-market consumer: mall kiosks, stores, vending machines, e-commerce, and other physical locations across Las Vegas and New York City. Furthermore, the company has filed a Form 1-A with the SEC with the goal of utilizing a Regulation A crowdfunding method to raise funds. Here is the full press release detailing of the CBD business transition:
For The Earth Corporation Press Release:
PHOENIX, AZ, Feb. 25, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG) issues the following Letter to Shareholders from the CEO:
Dear Valued Shareholder,
As we continue to manage our transition into the CBD space, we would like to start by thanking our committed shareholders for sticking with us as we navigate the final stages of this process.
Our vision matches up with our financial reality and our market opportunity analysis in a very compelling manner, and we couldn’t be more excited as we look ahead at coming quarters. Today, I would like to outline that vision, what we are doing about it, and how we plan to frame that message to the marketplace.
The CBD market is expected to grow by enormous multiples over the next three years. According to our analysis, we can maximize our shareholders’ ability to benefit from that growth as it blossoms by establishing ourselves as an integrated vertical CBD organization now.
As our recent press releases demonstrate, we have already begun to carve out our retail footprint by establishing a variety of transaction points with the end market consumer, including mall stores, mall kiosks, vending machines, and e-commerce storefronts, with physical locations in both Las Vegas and New York City, where our research suggests there is already a high ratio of knowledgeable consumers interested in CBD products.
On the other side of the equation, we also plan to put in place our own production process, which is an essential piece of the puzzle for an integrated go-to-market CBD model. Expect many related details to be released over the coming period.
We are also very focused on communicating our story to the market effectively. As such, we would like to announce our new expanded shareholder communications initiative. We believe this move will powerfully benefit both Company shareholders and Company management.
As we prepare to significantly ramp up operations, we understand this implies a duty to our shareholders to ensure both transparency and visibility are elevated correspondingly. We have a great story in the making, and so we have a responsibility to communicate that story to our shareholders and the wider investment community.
In part, this initiative comes in response to an increase in shareholder and public requests for more details about our operations and objectives following recent Company accomplishments.
However, in addition to fulfilling these requests and our duty to support full transparency, this initiative will also consist of a proactive media and messaging outreach that will include a broad array of digital and non-digital communications strategies. To that end, the Company has engaged EHC Branding Agency (ehcbrandingagency.com) as a partner to assist in this process.
Finally, we filed Form 1-A with the Securities and Exchange Commission to make a Securities offering under Regulation A earlier this year. As an update, this measure not been approved as of yet, and the Company is currently not doing any offerings of any kind.
We will certainly notify shareholders of changes to the status of this filing as soon as we have more information. But, at present, our float remains at 1.021 billion shares, and our focus remains on maximizing shareholder value and not on diluting our shareholders.
The bottom line is this: we recognize our responsibility to sufficiently ensure that current and prospective FTEG shareholders have access to any and all information necessary to make informed decisions as we navigate the final steps of what we believe will be a powerful and exciting transition toward greater value for our shareholders, our team, and our customers.
Nelson Grist, CEO
About For The Earth Corporation
For The Earth Corporation is an emerging integrated CBD producer and retailer in the United States. The Company is in the process of establishing a vertical framework that will extend from cultivation to extraction and production to a strategic retail footprint that includes multiple locations in Las Vegas and New York featuring mall kiosks, vending machines, e-commerce, and full store locations serving both the human and pet CBD markets. Two mall leases have been signed recently in Las Vegas, with another vending machine location secured in New York City. The Company plans to expand its New York vending machine penetration by the end of 2019. In addition, the Company has begun early-stage work to establish a state-of-the-art CBD extraction and production facility in Eugene, OR.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See For The Earth’s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.