Apple Rush Company, Inc. acquires Pursuit Hemp Farms in its design to become seed-to-sale

Rhea-AI Summary

Apple Rush Company (OTC PINK: APRU) has announced the acquisition of Pursuit Hemp Farms, a family-run operation in Illinois with 1,400 acres dedicated to high-quality hemp cultivation. This strategic move is part of APRU's goal to establish a seed-to-sale model, enhancing its hemp product offerings. CEO Tony Torgerud emphasized the expansion of farming capabilities and research opportunities through this acquisition. The partnership is expected to leverage Pursuit Hemp's extensive experience in the industry, facilitating growth and development in hemp production.

Positive

• Acquisition of 1,400 acres from Pursuit Hemp Farms enhances farming capabilities.
• Partnership with experienced farmers expected to improve hemp product quality.
• Strategic move supports APRU's seed-to-sale vision and market expansion.

Negative

• None.

TITUSVILLE, Fla., Jan. 20, 2022 /PRNewswire/ -- The Apple Rush Company, Inc. (OTC PINK: APRU) (the "company") has acquired Illinois based Pursuit Hemp Farms, LLC.  Tony Torgerud, CEO of Apple Rush, stated, "We are off to a good start in 2022 with our first acquisition finalized. Pursuit Hemp Farms is a proficient farming operation having 1,400 acres of cropland available, which has been growing high-quality hemp since 2018, giving us the first prong in our seed-to-sale strategy."  Chad and Zach Baker, along with Justin Thomas have successfully built a hemp operation utilizing custom planting, weeding, and harvesting equipment to farm hemp. Chad Baker said, "We are excited to partner with APRU to produce quality hemp products. Our decades of farming experience and our successful growing of over 75 aces of hemp over the last couple of years, will aid in the progression of the Apple Rush Company. We intend to build a world class grow operation as the industry matures and regulations become more standardized."

Pursuit Hemp Farms is a family run farm that takes pride in hard work and producing the highest quality products. Baker stated, "We are always striving to make better products and push new technology into the farming industry any way we can, and the partnership with APRU will be extremely beneficial."

Tony added, "There is leeway for progress and R&D – having access to just under fifteen hundred acres to cultivate hemp will ultimately streamline our seed-to-sale vision for APRU. We are going to rapidly expand our capabilities through partnerships in different areas to fulfill our goals of growing, developing, manufacturing, and distributing products worldwide."

Lastly, Tony said, "APRU will be a seed-to-sale operation. We look forward to obtaining partners throughout the world as we continue to build our core brands. We will continue to close deals on the current projects we are working on to make the company stronger and vertically integrated."

About The Apple Rush Co., Inc. 
The Apple Rush Company, Inc., through its subsidiary APRU, LLC, is a distributor of cpg products under the trademarked Apple Rush brand and other labels. The Apple Rush brand has more than 40 years of existence in the natural beverage industry. As a historical leader in the organic and natural beverage sector our goal is to also become the leader in the distribution of anhydrous hemp oil products nationwide. For more information, please go to www.applerush.com. 

About APRU, LLC: APRU, LLC focuses on the development and sales of all natural Apple Rush sparkling juices, and research and development, of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives and other active ingredients such as kratom, kava, and ginseng. www.aprubrands.com, www.applerush.com, www.element-brands.com, or on Twitter @RealAPRU_News.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise. 

Investor relations Contact: 
Tony Torgerud 
888-741-3777 x 2

View original content:https://www.prnewswire.com/news-releases/apple-rush-company-inc-acquires-pursuit-hemp-farms-in-its-design-to-become-seed-to-sale-301464843.html

SOURCE Apple Rush Co., Inc.

FAQ

What is the significance of Apple Rush's acquisition of Pursuit Hemp Farms?

The acquisition enhances Apple Rush's farming capabilities and supports its seed-to-sale business strategy.

How many acres did Apple Rush acquire from Pursuit Hemp Farms?

Apple Rush acquired 1,400 acres from Pursuit Hemp Farms.

What is the expertise of Pursuit Hemp Farms?

Pursuit Hemp Farms has significant experience in cultivating high-quality hemp since 2018.

What are the future plans for Apple Rush after acquiring Pursuit Hemp Farms?

Apple Rush plans to expand its hemp production capabilities and pursue partnerships to grow its market presence.

When was the acquisition of Pursuit Hemp Farms announced?

The acquisition was announced on January 20, 2022.