cbdMD Extends Sponsorship With Professional Rally Driver Megastar Ken Block

Rhea-AI Summary

cbdMD announced a renewed sponsorship with rally driver Ken Block, enhancing brand visibility in his racing events. Block will display the cbdMD logo on his fire suit and rally car while promoting the brand through various marketing initiatives. He expressed confidence in cbdMD products, integrating them into his health regimen and opting for part of his sponsorship in the company's stock. cbdMD aims to leverage Block's 8 million social media followers to boost awareness of its CBD offerings for athletes and everyday users.

Positive

• Renewed sponsorship with Ken Block enhances brand visibility.
• Block's endorsement may attract his 8 million social media followers.

Negative

• None.

cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the “Company”), one of the leading, and most highly trusted and recognized cannabidiol (CBD) brands, announced today that the company is renewing its partnership with Ken Block, professional rally and rallycross driver currently with the Hoonigan Racing division. Through this renewed sponsorship with cbdMD, the brand is set to become synonymous with Block’s rally car races, with the cbdMD logo to appear on his official fire suit and rally car. The extended sponsorship deal will also include a wide range of additional integrated marketing opportunities to promote the cbdMD brand.

cbdMD Extends Sponsorship With Professional Rally Driver Megastar Ken Block (Photo: Business Wire)

“I’m thrilled to continue partnering with cbdMD and to extend my membership on Team cbdMD. Their products are current staples of my workout and physical therapy routines. I look forward to continuing to use my platform and working with cbdMD in an effort to help promote better health and wellness for everyone. And, as a believer in the Company, I have decided to take a portion of my sponsorship compensation in cbdMD common stock,” said Ken Block.

“We are extremely excited to extend our sponsorship with Team cbdMD athlete Ken Block. As a passionate advocate of cbdMD and our award-winning products, Ken is the ideal ambassador for our brand. We look forward to further connecting with Ken’s impressive 8 million social media following to continue to raise awareness of the overarching benefits of our CBD products for not only professional athletes, but for exercise enthusiasts, pets and everyday Americans,” said Ken Cohn, Chief Marketing Officer at cbdMD.

About Ken Block

Ken Block has had an illustrious career in rally racing. Ken Block is known for his versatility as an athlete, having competed in several action sports events, including rally racing, skateboarding, snowboarding and motocross. Ken Block’s business and rallycross success inspired his founding of Hoonigan Industries, an automotive lifestyle brand that has exploded in popularity in recent years, of which he currently serves as “Head Hoonigan In Charge (HHIC).”

About cbdMD, Inc.

cbdMD, Inc. is one of the leading, most highly trusted, and most recognized cannabidiol (CBD) brands, whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD botanical skincare products, CBD bath bombs, and CBD pet products. cbdMD is also a proud partner of Bellator MMA and Life Time, Inc., and has one of the largest rosters of professional sports athletes who are part of “Team cbdMD.” To learn more about cbdMD and our comprehensive line of over 100 SKUs of U.S. produced, THC-free¹ CBD products, please visit www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products. To learn more about cbdMD and their comprehensive line of U.S. grown, THC-free¹ CBD oil products, please visit www.cbdmd.com.

Forward-Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements,. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 as filed with the Securities and Exchange Commission (the "SEC") on December 22, 2020 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.

¹ THC-free is defined as below the level of detection using validated scientific analytical tools.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005175/en/

FAQ

What is the significance of cbdMD's renewed sponsorship with Ken Block?

The renewal of cbdMD's sponsorship with Ken Block is significant as it boosts brand visibility during high-profile racing events and leverages Block's substantial social media following.

How will cbdMD benefit from Ken Block's sponsorship?

cbdMD will benefit from increased brand exposure through Block's racing events and marketing initiatives, potentially attracting new customers and enhancing brand credibility.

What is Ken Block's relationship with cbdMD?

Ken Block is a sponsored athlete for cbdMD, using their products in his physical routines and promoting them to his audience.

What products does cbdMD offer?

cbdMD offers a variety of CBD products, including tinctures, capsules, gummies, topicals, skincare products, bath bombs, and pet products.