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SUNRISE, Fla., Feb. 20, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) through its subsidiary Elite Products International, Inc. (“Elite”) announces it has granted distribution rights to Hemp Premier, Inc. (“HPI”) to sell its products which contain cutting-edge CBD Hemp extracts in the form of edibles, topicals and cosmetics at Mall Carts and Kiosks in Florida and New York.
PSIQ is launching this new program to raise mainstream consumer awareness on the potential health benefits of CBD Products, while significantly enhancing its distribution footprint through a new and diverse segment of the rapidly growing market.
For purposes of the agreement, Mall Carts and Kiosks shall be considered a store operating out of an enclosed booth of varying size and shape with the Distributor located in the center and customers having the ability to approach the Distributor across a counter. Mall Carts and Kiosks maximize the benefits of selling in a high traffic area to targeted customers, with low cost market entry and lease term flexibility, all in a small footprint. Kiosks range in size from the traditional 3‘x 6’ cart on wheels to very involved, specially fabricated larger units with lighting and decor that complement the mall and design features that draw in consumers. There are thousands of kiosks in malls, airports, rail stations, and sports venues selling everything imaginable, from sunglasses to ice cream.
According to IBIS World, over the past five years, the Mall Carts & Kiosks industry has grown by 2.7% to reach revenue of $12bn in 2018. In the same timeframe, the number of businesses has grown by 3.0% and the number of employees has grown by 3.8%. The Mall Carts & Kiosks industry consists of Apparel and fashion accessories, small personal electronics and accessories, personal care products and services, other products and services and toys, games and entertainment. The majority of products supplied by Mall Carts and Kiosks is discretionary items. Therefore, a rise in household disposable income increases the propensity for consumers to purchase these goods, leading to growth in demand. Per capita disposable income is expected to increase in 2018, creating a potential opportunity for the industry. For more information, please see https://www.ibisworld.com/industry-trends/specialized-market-research-reports/consumer-goods-services/apparel-accessories-stores/mall-carts-kiosks.html.
HPI is an operator of Mall Carts and Kiosks promoting the sale of cutting-edge CBD industrial hemp extracts in the form of edibles, topicals and cosmetics.
“Our goal by entering the Mall Cart and Kiosk Industry in the United States is to broaden our distribution footprint, increase revenues, spike brand awareness and educate consumers on the benefits of CBD products in general, and our brand in particular. We believe the relationship with Hemp Premier, Inc. will generate significant Revenues for both companies,” stated Dan Oran, CEO of PSIQ.
ABOUT HEMP PREMIER INC. (“HPI”)
HPI is an operator of Mall Carts and Kiosks promoting the sale of cutting-edge CBD industrial hemp extracts in the form of edibles, topicals and cosmetics. HPI intends to capitalize on the recent surge of Hemp based CBD products & translate that attention to retail sales in the common areas of Malls & Shopping Centers. HPI intends to sell Elites full line of Hemp based CBD products (www.elitehempproducts.com). HPI intends to open its first Mall Cart or Kiosk at the Mall at Bay Plaza in Bronx, NY. Michael Campbell, the owner/operator of HPI has over 20 years of experience in various retail concepts developing specialty brands & businesses for Mall Carts and Kiosks with Simon Property Group, Macerich & General Growth Properties.
ABOUT PROFILE SOLUTIONS, INC.
Profile Solutions, Inc., through its subsidiary Elite Products International, Inc., is a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company's products contain cutting-edge CBD industrial hemp extracts in the form of edibles, topicals and cosmetics. Financial information can be found at www.otcmarkets.com/stock/PSIQ/profile . Please visit the company website at www.profilesolutionsinc.com,
Facebook at www.facebook.com/EliteProductsINTL/,
Instagram at www.instagram.com/elite_hemp/,
Linkedin at www.linkedin.com/in/elite-hemp-products-3a863914a/,
Twitter at www.twitter.com/Elitehemp_intl
Blog at www.elitehempproducts.com/blog.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR INFORMATION, PLEASE CONTACT:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351