Black Bird Biotech Provides Shareholder Update Ahead of MJBizCon 2022 in Las Vegas

Rhea-AI Summary

Black Bird Biotech, Inc. (OTC: BBBT) provided a shareholder update highlighting its biopesticide, MiteXstream, which received positive attention at the August 2022 Cannabis Conference. The product is now available at Ace Hardware in Montana, with plans for a national rollout in Spring 2023. Sales through Amazon average 120 units monthly. The company is exploring acquisition opportunities in the cannabis sector to bolster its operations. A search for a qualified CEO is underway, emphasizing the importance of passion for MiteXstream. Investing in strategic growth is prioritized.

Positive

• MiteXstream received positive feedback at the Cannabis Conference, enhancing market interest.
• Product availability at Ace Hardware stores in Montana indicates expanding distribution channels.
• Plans for a national presence with Ace Hardware by Spring 2023.
• Amazon sales show promise with 120 units sold monthly, allowing for targeted marketing improvements.
• Exploration of acquisitions within the cannabis industry may enhance business growth.
• Search for a qualified CEO to strengthen company leadership and vision.

Negative

• Current Amazon sales of 120 units per month are considered insufficient for strong revenue growth.
• Recent expansion of authorized shares raises concerns about potential shareholder dilution.

FLOWER MOUND, TX / ACCESSWIRE / November 3, 2022 / Black Bird Biotech, Inc. (OTC:BBBT), manufacturer and distributor of plant-based MiteXstream^TM biopesticide, is pleased to provide the following shareholder update.

BBBT's President, Fabian Deneault, stated, "At the August 2022 Cannabis Conference, MiteXstream^TM seemed to be the ‘belle of the ball.' We were pleased that so many attendees and other vendors expressed such positive comments about our game-changing product. In fact, one vendor said, ‘you're going to put us out of business.' We intend to do that."

Bee Tested, Bee Safe. Mr. Deneault continued, "Over the Summer, we saw a flood of online articles and other media stories focused on the worldwide problem of pesticides killing honey bees. This Fall, our ‘Bee Tested, Bee Safe' tagline has begun to take hold. Those media stories seem to have raised awareness of the extreme risks that traditional pesticides pose to bees. Specifically, our bee-focused approached has captured the attention of Ace Hardware® Stores in Montana and neighboring states, where MiteXstream^TM is already on the shelves or will be this coming Spring. This local success has put us in a position to be a vendor at the Q1 2023 national Ace Hardware® show.

We also continue to sell MiteXstream^TM through our Amazon® Store with good product reviews, for example:

‘Pleasantly surprised by the efficiency per cost for this. Having mite problems in my greenhouse,

and this knocked it down by about 95 percent after a week.'

Amazon sales have averaged about 120 units each month, which is certainly not a ‘wow' moment for us. However, we have been using Amazon primarily as an online marketing test - key words, pricing, etc. With the information gathered over the past few months, we intend to be far more aggressive with an intelligent online marketing heading into next year's growing season. We have also learned that customers like MiteXstream^TM."

It's all about sales and ever-expanding distribution channels; we know that; we are all about that.

Overcoming the many challenges in the current economic climate will test our company's resolve, but we have the one thing that so many small companies do not have but crave: a foundational, game-changing product."

Everything-But-The-Plant. "We also determined at the Cannabis Conference that there are potential acquisition opportunities within the Cannabis Industry," said Mr. Deneault. "Our Board of Directors has approved a plan for our company to establish a cannabis-centric operating division anchored by MiteXstream^TM, which we would build through acquisitions of, or operating partnerships with, companies who operate within the cannabis industry but who do not grow cannabis. This month's MJBizCon 2022 in Las Vegas will be our first opportunity to target opportunities. The implementation of this strategy is the primary reason behind our recent move to expand the authorized capital: shares and cash will be necessary to achieve success. And because our lenders require up to six-times debt coverage with reserved (non-usable for us) shares, an expanded number of authorized shares will provide needed flexibility that we do not have right now. That said, it is not our Board's intention to operate a share printing press. The Board will secure value for shares."

Executive Talent. Mr. Deneault concluded, "Our Board of Directors has instructed the company officers to conduct a search for a qualified CEO - the only caveat: the person must be passionate about MiteXstream^TM, the product, not just its commercial potential. We hope to have made progress in this search by early next year, in time for the growing season sales push."

News and Updates. For news and updates, shareholders, prospective investors and prospective business partners are encouraged to follow @BBBT_Corporate on Twitter and @BlackBirdBiotech on Instagram. Also visit BBBT's corporate website, BlackBirdBiotech.com, for additional information about the company.

About BBBT

Black Bird Biotech is positioned to exploit market segments with powerful, re-imagined biotech products. Its EPA-registered biopesticide, MiteXstream^TM, eradicates mites and similar pests, including spider mites (a lethal pest in cannabis, grapes, hops, coffee, strawberries and many other agricultural crops), and eliminates molds and mildews. MiteXstream^TM is a pesticide, but it is not a poison - it's a pesticide re-imagined. The MiteXstream^TM Edges: it is HONEY BEE SAFE and it can be used through the day of harvest without concern for residual "pesticide" violations, including as it pertains to state cannabis testing. MiteXstream^TM is the foundational element of the company that carries vast potential worldwide as a highly effective, safe and extremely cost-effective replacement for many traditional "poisonous" pesticides.

Forward Looking Statements:

This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:

Eric Newlan
Vice President
833-223-4204
eric@newlanpllc.com
BlackBirdBiotech.com

SOURCE: Black Bird Biotech, Inc.

View source version on accesswire.com:
https://www.accesswire.com/723753/Black-Bird-Biotech-Provides-Shareholder-Update-Ahead-of-MJBizCon-2022-in-Las-Vegas

FAQ

What recent updates did Black Bird Biotech (BBBT) announce?

Black Bird Biotech announced positive feedback on its biopesticide MiteXstream and plans for national distribution.

How is MiteXstream performing in terms of sales?

MiteXstream averages 120 units sold monthly through Amazon, indicating a need for more aggressive marketing.

What are Black Bird Biotech's plans for 2023?

The company plans to expand MiteXstream's distribution and explore acquisition opportunities in the cannabis industry.

Is Black Bird Biotech seeking a new CEO?

Yes, Black Bird Biotech is searching for a qualified CEO who is passionate about MiteXstream.

What impact could the recent share expansion have on BBBT shareholders?

The expansion of authorized shares could lead to potential dilution for current shareholders.