Mr. Ray Grimm reports
LAGUNA OPENS OFFICE AND DISTRIBUTION CENTER IN ESCONDIDO, CA
Laguna Blends Inc. has opened its Southern California office and distribution centre in Escondido, Calif. The 13,916-square-foot office and warehouse allows Laguna to successfully expand its business-to-business and on-line sales business within the United States and Canada. This facility is conveniently located adjacent to the I-78 and I-15 freeways, allowing easy access to San Diego, Los Angeles, Orange and Riverside counties. Laguna will be subleasing space to Carlsbad Naturals LLC for additional bottled water storage and distribution. Laguna and Carlsbad intend to take advantage of co-working together by sharing certain office personnel as the companies continue growing the cannabidiol water market. Ray Grimm, president and chief executive officer of Laguna Blends, stated: "This is a strategic move to have an office and a warehouse combined with Carlsbad. Combining personnel and distribution resources will allow both companies to operate more efficiently. Having the creative and communications team working together with both companies will create the synergy needed to explode the branding efforts of each company."
The company would also like to announce it has agreed to extinguish a total of $330,000 of debt relating to loans from an arm's-length party by issuing 2.2 million common shares of the corporation at a deemed price of 15 cents per share.
About Laguna Blends Inc.
Laguna Blends is a market leader in the distribution of hemp and CBD products. Lagunas growth strategy includes acquiring and incubating companies that formulate and/or manufacture hemp products. Laguna Blends markets hemp products utilizing its B2B network along with driving traffic to its Club 8 on-line marketplace.
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