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Eco-Growth Strategies (OTC PINK:ECGS) has signed a national distribution agreement with Global Garden, a leading distributor of hydroponic supplies. This agreement enables Global Garden to distribute Eco-Growth's flagship product, 454 Bags, which is recognized in the cannabis post-harvest market. The collaboration aims to provide high-quality, eco-friendly solutions to growers across the U.S. Eco-Growth is committed to sourcing and manufacturing CBD products from premium North American hemp.
Eco-Growth Strategies (OTC PINK:ECGS) has launched a subsidiary, Eco-Growth Supplies, Inc., to cater to the growing hemp market. The flagship product, the 454 Bag, is a 454-gram recyclable bag designed for farmers and distributors. Made from a proprietary PET/PE blend, it offers superior odor control and protection compared to non-recyclable options. The company anticipates generating $2 million in revenue from this product alone in 2021. This launch aligns with the company's mission to promote environmentally friendly solutions in the CBD sector.
Eco-Growth Strategies (OTC PINK: ECGS) reported significant business growth from its subsidiary, Hara Flow, Inc., during the holiday sales period. The company achieved a 146% year-over-year increase in gross revenue and a 126% rise in orders. Notably, weekend sales surged by 700% over average sales, while customer turnout improved by 175% year-over-year. The leadership expressed confidence that this momentum will persist into 2021, suggesting a strong outlook for their CBD product line amidst the ongoing pandemic challenges.
Eco-Growth Strategies (OTC PINK: ECGS) announced a joint venture with Sedona Synergy, focusing on the extraction of hemp biomass. Eco-Growth will control a majority stake and has the option to acquire Sedona fully in the future. The venture aims to utilize advanced extraction technology for higher efficiency of CBD and other cannabinoids. Eco-Growth will supply extraction machines and cash for facility upgrades. The existing contract pipeline, valued at $4 million for one million pounds of biomass, will be shared based on ownership percentages.
Eco-Growth Strategies (OTC Pink Sheet: ECGS) has successfully completed the acquisition of HARA, a premium hemp-based CBD company targeting athletes and health-conscious consumers. This strategic move aims to enhance Eco-Growth's portfolio with high-quality CBD products while also expanding into the pet product sector. The acquisition aligns with the company's bolt-on strategy for growth and enhances its extraction capabilities through its subsidiary, XtractionOne Plus. The partnership is intended to leverage HARA's existing loyal customer base and product expertise.
SACRAMENTO, CA / ACCESSWIRE / September 9, 2020 / Eco-Growth Strategies, Inc (OTC PINK: ECGS), a nutraceutical firm focused on premium CBD products, has engaged Turner Stone & Company to conduct an eight-quarter audit of its finances, a necessary step for SEC registration. The audit will take 60 to 90 days. Additionally, Donald S. Bicking & Associates will provide ongoing financial advisory services. CEO William Delgado expressed confidence in these firms, viewing them as crucial for transitioning from the Pink Sheets to fully reporting status.
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