Turner Venture Group Announces Completed Acquisition of Bloomi Labs LLC
Turner Valley Oil and Gas (OTC PINK:TVOG), recently rebranded as Turner Venture Group, announced the full acquisition of Bloomi Labs LLC in an all-equity transaction. Bloomi Labs specializes in CBD product development, offering its flagship product, BloomiClean™, an ethyl-based hand sanitizer infused with CBD, aloe vera, and vitamin E. The acquisition aligns with Turner’s strategy to penetrate the health and wellness market, leveraging Bloomi's marketing relationships and distribution channels. The global hand sanitizer market is projected to reach $15.3 billion by year-end 2020, presenting significant growth opportunities.
- 100% acquisition of Bloomi Labs LLC enhances portfolio in health and wellness.
- BloomiClean™ positions Turner in the growing hand sanitizer market, projected at $15.3 billion for 2020.
- Established relationships with social media influencers and retail channels support distribution expansion.
- Manufacturing agreement avoids stock dilution, aligning incentives for cost reduction and volume increase.
- Initial stages of Bloomi Labs may yield uncertain revenue.
- Dependence on market growth forecasts may pose risks if projections do not materialize.
KERRVILLE, TX / ACCESSWIRE / October 9, 2020 / Turner Valley Oil and Gas, Inc. (the "Company") ("Turner") (OTC PINK:TVOG), now doing business as Turner Venture Group, Inc., is pleased to announce the
BLOOMI LABS LLC
BloomiClean™ is made using organic products, with CBD from an Illinois hemp farm, which is THC-free and produced in a FDA qualified facility. The product is turn-key for retail sales, online sales and the marketing strategy has been initiated with an official launch date soon. Turner has cultivated multiple social media influencers and celebrity relationships as well as major corporate retail operatives from drug stores, CBD shops, beauty supply and many others that are eager to forge distribution relationships. Retail distribution expansion efforts have been developed with a significant network of distributors is being formed to map out new markets and build the supply chain efforts.
Bloomi Labs LLC is pleased to announce it signed a special manufacturing agreement with a confidential St. Louis manufacturer to provide products at cost, in exchange for a profit sharing agreement, which requires not issuance dilution of stock from Turner. This way parties are aligned in helping to drive down costs and increase volumes. Currently maximum capacity is 30,000 bottles per month.
Distributors, retail shops, influencers, consumers or otherwise interested parties should contact Rick Hupe at info@BloomiClean.com
MARKET SIZE
"Global hand sanitizer Market was valued at US
For more information: https://www.prnewswire.com/news-releases/hand-sanitizer-market-size-worth-us-15-3-billion-by-2026-cagr-9-15-univdatos-market-insights-301111046.html
"The global cannabidiol market was valued at USD 4.6 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of
For more information: https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market
ACQUISITION PLAN
The Company is operating as a Venture Holding Company that acquires equity interests in innovative products and companies within the health, wellness, sanitation, infrastructure and critical supply chain segments. The Company's second planned acquisition is a supply chain and ecommerce company. This Company comes with major distribution agreements with established labs and manufacturers for critical supplies for its commercial client lists. Completion of these contracts are expected to be announced in the near future.
"We are pleased to have completed Phase 1 and launched Phase 2 including the completion of the acquisition of Bloomi Labs, LLC. This brings us to a revenue producing company, which while early stage, has a lot of upside potential based on the existing marketing plans," CEO James B. Smith stated in regards to progress toward previously outlined Company milestones.
Please refer to most recent website announcements for more information:
https://tvoginc.com/2020/06/turner-announces-corporate-updates-and-advancement-plan/
https://tvoginc.com/2020/07/turner-venture-group-announces-settlement-of-convertible-debts/
https://tvoginc.com/2020/09/turner-venture-group-announces-settlement-of-former-management-debts/
About Turner Valley Oil and Gas, Inc.
Turner (OTC PINK:TVOG) is a Venture Holding Company that acquires equity interests in innovative products and companies within the health, wellness, sanitation, infrastructure and supply chain technology segments. Turner's cornerstone acquisition of Bloomi Labs, LLC has proprietary formulation of a CBD Hand Sanitizer manufactured domestically.
Disclosures
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
Key Links:
OTCMarkets Profile: http://www.otcmarkets.com/stock/TVOG/profile
Full Disclaimer: https://TVOGinc.com/contactus/disclaimer/
Corporate Website: http://TVOGInc.com
Twitter: http://twitter.com/tvoginc
CONTACT:
James B. Smith
CEO, Chairman
Turner Valley Oil And Gas, Inc.
D.B.A. Turner Venture Group, Inc.
Address: 317 Sidney Baker South Suite 400-264
Kerrville, TX 78028
Phone: 1-281-826-4289
Email: TurnerVentureGroupInc@gmail.com
SOURCE: Turner Valley Oil and Gas, Inc.
View source version on accesswire.com:
https://www.accesswire.com/609967/Turner-Venture-Group-Announces-Completed-Acquisition-of-Bloomi-Labs-LLC
FAQ
What is the recent acquisition by TVOG?
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