Galexxy Holdings Executes a Binding Term Sheet to Acquire ABC Wholesale LLC
Aug 10th, 2022 9:00 EST
Newport Beach, CALIFORNIA, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Galexxy Holdings Inc., (“Galexxy,” “GXXY”) (OTC: GXXY) is pleased to announce that it has signed a binding Term Sheet to acquire a majority controlling interest in ABC Wholesale LLC. (ABC). ABC is based in Gainesville, Georgia, where it produces and is successfully marketing a range of quality CBD consumer products.
ABC’s acquisition, which is being structured as a GXXY subsidiary, will generate profitable revenues, and enable access to new markets in 11 eastern states through 20 wholesale distributors that sell ABC products to a significant number of retail outlets. The ABC acquisition will also provide white labeling and cross-marketing opportunities between both ABC and Wellbeing Farms’ product ranges for their respective markets.
Ross Lyndon-James, Galexxy’s CEO stated: “This is a very positive acquisition for us and is consistent with Galexxy’s strategic business expansion plans. We look forward to advising shareholders with more commercial details and further new business developments in the near future”.
Headquartered in Newport Beach, California with manufacturing facilities in Murietta, California, Galexxy’s shares are publicly traded on the OTC Markets (OTC: GXXY). Galexxy entered the rapidly developing markets for premium CBD consumer products in April 2021 and recently completed its acquisition of Wellbeing Farms LLC., on August 4, 2022.
Galexxy Holdings Inc.Ross Lyndon-JamesE: [email protected] M: (949) 456 3972
Forward-Looking InformationThis press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.