WOW Inc. Expands Into World’s Largest Legal Cannabis Market and Becomes Title Sponsor For Southern California Football Franchise
DENVER, Sept. 14, 2020 (GLOBE NEWSWIRE) — World of Weed Inc. (OTC PINK: WOWU) has executed preliminary agreements and granted franchise rights to PDX Partners Inc. (OTC PINK: PDXP) and also has become the title sponsor for the Ontario Bandits Football Club, a wholly owned subsidiary of PDX Partners Inc.
California legal excise tax revenues surged 60.5% year-over-year to an estimated $305.30 million in 2019 (up from $190 million in 2018). There are now more than 600 open stores and delivery services, with an estimated 300 new stores expected to open in 2020. There are 5,400 licensed farms, ensuring adequate legal supplies.
The UFC signed its first cannabis sponsorship, bringing on Aurora Cannabis to promote its CBD products. The deal came three years after UFC fighter Nate Diaz shocked a post-fight news conference by sucking on a CBD vape pen after losing the main event to Conor McGregor.
Recently, news surfaced of the NFL and its players union agreeing for the first time to jointly study the use of marijuana as a pain management tool and the NHL Alumni Association in March said it was working with Canopy Growth, a cannabis company, for research on 100 retired players to see if CBD products could effectively treat post-concussion neurological disorders.
In golf, Bubba Watson played in a PGA Championship with a visor bearing the logo of cbdMD, a company mainstream enough that it is traded on the New York Stock Exchange and advertised on a digital billboard in Times Square. Scott McCarron was the first PGA Tour player to join the CBD parade, signing with hemp-oil supplier Functional Remedies. Scott Piercy, with four career wins on the PGA Tour, is touting Real Brands, a CBD company in which he’s an investor.
The Indianapolis 500 included cars sponsored by at least two different CBD marketers: Defy, a CBD-based sports performance drink, sponsored two cars from Arrow Schmidt Peterson Motorsports; and a Carlin Racing car carried advertising from CBD maker Craft 1861. An illustration of how confounding industry regulations are is that while teams can transact sponsorship deals, the drivers piloting their cars cannot use the sponsor products, because CBD remains a banned substance at the Indy 500.
“World of Weed Inc. will be the first cannabis specific company to embark on such a sponsorship with a professional sports franchise, and we believe the opportunity to expand our business model of acquiring cannabis producing farms and end line dispensaries of quality cannabis products as well as being the title sponsor for a professional sports franchise in Southern California to will bring exponential value, exposure, and limitless opportunities to the World of Weed brand and bottom line business growth due to expansion into the Southern California media and cannabis markets,” said Anthony Russo, CEO of WOWI, Inc. “In addition and most importantly is the fuel this puts behind our national trade marked Brands and Store fronts under the WORLD OF WEED name. We expect our first flag ship WORLD OF WEED stores to be started either in Colorado or California. We want both to be operational by close of 2021,” Anthony C. Russo further exclaims.
“As a retired NFL player it’s always been a dream to one day own a sports franchise and take the championship journey as an executive. The process of creating a new sports and entertainment franchise from scratch has been a very rewarding experience, and we believe that positioning the Bandits Organization corporate sponsor such as the World Of Weed cannabis company shows that our organization has a forward thinking philosophy, and we look forward to the immense opportunities that lie ahead for all corporate interests involved,” said PDXP and Ontario Bandits President Pat Johnson.
Safe Harbor Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk.
About World of Weed Inc.
World of Weed Inc. is a national cannabis brand supported by cannabis producing farms and dispensaries of quality cannabis products. WOWI’s nationally recognized brand will host quality products developed in cooperation with agricultural institutions, provide controlled growing and harvesting conditions, and develop selective distribution via knowledgeable dispensaries/stores . all under regulatory conformance.
About PDX Partners Inc.
PDX Partners, Inc. (OTC:PDXP) is a diversified holdings company dedicated to creating revenue and shareholder value by marketing and acquiring other long term growth assets. The company was founded in 1997.
DENVER, Sept. 14, 2020 (GLOBE NEWSWIRE) — World of Weed Inc. (OTC PINK: WOWU) has executed preliminary agreements and granted franchise rights to PDX…
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