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DAYTONA BEACH, Fla., June 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- White Label Liquid, Inc. (OTC Pink: WLAB) ("the Company") followed up on a banner April with equally impressive sales statistics in May, once again breaking monthly sales records and bringing in over $1.3 million in revenues for its private-label CBD products and services. As the Company did the previous month, it recorded 300 percent-plus growth year-over-year as compared to May 2018, when WLAB brought in revenues of just around $400,000.
(Click here to see a video of White Label Liquid's manufacturing operations and learn more about the Company.)
With first quarter revenues of over $2.8 million for the private-label CBD manufacturer, WLAB is well on its way towards exceeding overall numbers for fiscal year 2018, when the Company brought in over $7 million. Less than five months into 2019 the Company is already halfway to that number.
"The strides we've made as a Company this year have really been a team effort from the bottom up," said White Label Liquid CEO Yaron Elkayam. "We've closed big deals with some of the bigger names in this industry, and we've put ourselves on the radar of some of the top tier CBD companies in the sector."
"We don't expect to slow down by any means, and predict rapid growth for the rest of 2019," he added.
The numbers also represent a significant share of the growing CBD industry which experts at BDS Analytics and ArcView Market Research project will surpass $20 billion by 2024, a slight increase from the recent forecast made by New York-based investment bank Cowen & Co., which estimated that the market could pull in $15 billion by 2025.
White Label Liquid's expert team provides businesses looking to enter the CBD space with a variety of private label, hemp-derived CBD products to help them meet and exceed a broad range of their customer needs and desires. The Company's new, 51,000-square-foot, all-in-one operations facility manufactures CBD in-house, using industry standard, "good manufacturing practices" ("GMP"). White Label Liquid, Inc. offers business owners cutting-edge solutions with CBD products that are available in over 20 categories and 300 SKU's.
About White Label Liquid, Inc.: White Label Liquid is a leading one-stop manufacturing service providing premium custom-blended products containing hemp-derived CBD oil, all of which are sold to a wide variety of companies including major and small brands, chain stores, vape shops, distributors and dealers worldwide. The Company has the capability to produce up to 50,000 units per day in various packaging sizes and shapes using custom labels and customized presentation packaging. It merged last year with the former Simply Innovative Products, Inc. to create a publicly-traded company under the White Label Liquid, Inc. name dedicated to sharing its veteran industry expertise for the benefit of customers and shareholders alike.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
White Label Liquid, Inc.