IDVV Sells CBDWinery

Rhea-AI Summary

International Endeavors Corporation (OTC PINK:IDVV) announced the sale of its CBD Winery asset to Belu Organics Inc. This strategic move allows IEC to transition out of the CBD sector and concentrate on finalizing its MOU with ECO Resorts and Clean Energy. As part of the deal, IEC will receive up to 20% of future sales revenue from the CBD Winery brand. Additionally, IEC has no plans for a reverse stock split in the foreseeable future.

Positive

• IEC to receive up to 20% revenue share from future CBD Winery sales.
• Strategic transition to focus on MOU with ECO Resorts and Clean Energy.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / August 24, 2020 / International Endeavors Corporation "IEC" (OTC PINK:IDVV) today announced that it has sold its CBD Winery asset to Belu Organics Inc. in connection with which Belu Organics granted IEC a revenue agreement to the Company's use of the CBD Winery brand name, website and future sales.

Bill Martin, Vice President of International Endeavors Corporation (IEC) stated "I'm pleased to announce sale of this asset as we transition out of the CBD / MMJ sector to focus on finalizing our MOU with ECO Resorts and Clean Energy. We benefit from this transaction as Belu already has a footprint in the CBD industry to help grow the line, and IEC will receive a percentage of revenue up to twenty percent from any future sales."

Other Corporate Updates

The company would like to update its shareholders that it has NO plans in the foreseeable future of doing a reverse split.

About Eco Resorts

ECO-CAMPS IS THE LEADING PROVIDER OF OFF-THE-GRID ECO-FRIENDLY SOCIAL DISTANCING ACCOMMODATION
We combine glamorous camping under canvas with the comforts and conveniences of a hotel, delivering unforgettable experiences for our guests in incredible locations

ECO-CAMPS offers a selection of unique properties around the world by partnering with owners of unique properties to create one of a kind glamping destinations where other forms of accommodation can't be built.

For more information visit www.Eco-Camps.com.

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 other 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. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:

Bill Martin, Vice President
Phone: 1-619-343-3199
Email: billmartin@internationalendeavorscorp.com

SOURCE: International Endeavors Corporation, Inc.

View source version on accesswire.com:
https://www.accesswire.com/603070/IDVV-Sells-CBDWinery

FAQ

What recent asset sale did IDVV announce?

International Endeavors Corporation announced the sale of its CBD Winery asset to Belu Organics Inc.

How much revenue will IDVV receive from the CBD Winery sales?

IDVV will receive up to 20% of revenue from future sales of the CBD Winery.

Is IDVV planning a reverse stock split?

No, IDVV has stated that it has no plans for a reverse split in the foreseeable future.

What is IDVV focusing on after selling the CBD Winery?

IDVV is focusing on finalizing its MOU with ECO Resorts and Clean Energy.