CHARLOTTE, N.C.–()–cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) (the “Company”), one of many main and most extremely trusted and acknowledged cannabidiol (CBD) manufacturers, introduced at present that its CBD pet merchandise model, Paw CBD, has skilled one other report quarter of internet gross sales. Paw CBD’s September 30, 2020, estimated preliminary quarterly internet gross sales are anticipated to vary between $1.6 million and $1.65 million, or a sequential quarterly development of between 30% and 34% from the $1.23 million in internet gross sales within the prior quarter ended June 30, 2020.

“We are seeing an incredible growth trajectory in our Paw CBD brand. We now project total net sales of the Paw CBD brand to reach approximately $6 million for calendar 2020. Based on an article published on October 12, 2020, by Hemp Industry Daily, which used data provided by market analytics firm Nielsen Global Connect, estimated the hemp-derived CBD market for pets will total $40 million to $60 million in 2020. Therefore, based on these estimates, we expect Paw CBD will represent an approximate 10% to 15% market share in the pet U.S. CBD market in calendar 2020. This is an incredible achievement considering Paw CBD was launched less than one year ago,” mentioned Martin A. Sumichrast, Chairman and Co-CEO of cbdMD, Inc.

About preliminary unaudited monetary data: The preliminary monetary data contained on this press launch has been ready internally by administration and has not been reviewed or audited by our unbiased registered public accounting agency. There will be no assurance that precise outcomes for the interval introduced herein won’t differ from the preliminary monetary data introduced herein and such modifications could possibly be materials. This preliminary monetary information shouldn’t be seen as an alternative to full monetary statements ready in accordance with GAAP and isn’t essentially indicative of the outcomes to be achieved for any future interval. Our audited consolidated monetary statements for the fiscal yr ended September 30, 2020 shall be contained in our Annual Report on Form 10-Okay to be filed with the Securities and Exchange Commission on or earlier than December 29, 2020.

About Paw CBD

Paw CBD is the pet division of cbdMD, Inc. whose veterinarian-formulated merchandise embody tinctures, chews, and topicals in various strengths and formulation. Committed to bringing high-quality choices for the animals in your life, Paw CBD is proud to provide premium, non-THC1 CBD merchandise, specifically created to preserve your pets’ ongoing wellbeing and happiness. To be taught extra in regards to the complete line of Paw CBD pet merchandise, please go to pawcbd.com or observe Paw CBD on Instagram and Facebook.

About cbdMD, Inc.

cbdMD, Inc. is among the main and most extremely trusted and acknowledged cannabidiol (CBD) manufacturers whose present merchandise embody CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bathtub bombs and CBD pet merchandise. cbdMD can be a proud associate of Bellator MMA and Life Time, Inc., and has one of many largest rosters {of professional} sports activities athletes who’re a part of “Team cbdMD.” To be taught extra about cbdMD and our complete line of over 100 SKUs of U.S. produced, Non THC1 CBD merchandise, please go to www.cbdMD.com, observe cbdMD on Instagram and Facebook, or go to one of many 6,000 shops that carry cbdMD merchandise.

Forward-Looking Statements

This press launch incorporates sure forward-looking statements which are based mostly upon present expectations and contain sure dangers and uncertainties inside the that means of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements will be recognized by means of phrases akin to ought to, could, intends, anticipates, believes, estimates, tasks, forecasts, expects, plan and proposes. These forward-looking statements should not ensures of future efficiency and are topic to dangers, uncertainties, and different elements, a few of that are past cbdMD, Inc.’s management and troublesome to predict and may trigger precise outcomes to differ materially from these expressed or forecasted within the forward-looking statements together with, with out limitation, our capability to meet our internet gross sales steerage for our Paw CBD manufacturers, enlargement of the patron marketplace for CBD merchandise and our capability to enhance our market share, the validity of the estimations of the hemp derived-CBD marketplace for pets contained in Hemp Industry Daily’s cited article, challenges associated to the impression of the COVID-19 setting, our restricted working historical past, our capability to develop our enterprise and considerably enhance our internet gross sales, our capability to successfully leverage our model partnerships and sponsorships, our capability to successfully compete in our market, and our capability to report worthwhile operations sooner or later. You are urged to rigorously evaluate and take into account any cautionary statements and different disclosures, together with the statements made beneath the heading “Risk Factors” in cbdMD, Inc.’s Annual Report on Form 10-Okay for the fiscal yr ended September 30, 2019, as amended, and its Quarterly Report on Form 10-Q for the interval ended June 30, 2020, each as filed with the U.S. Securities and Exchange Commission (“SEC”), and our different filings with the SEC. All forward-looking statements contain vital dangers and uncertainties that would trigger precise outcomes to differ materially from these within the forward-looking statements, lots of that are typically outdoors the management of cbdMD, Inc. and are troublesome to predict. cbdMD, Inc. doesn’t undertake any obligation to replace any forward-looking statements besides as could also be required by legislation. The data which seems on our web sites and our social media platforms, together with, however not restricted to, Instagram and Facebook, or data which is contained in Hemp Industry Daily’s cited article, isn’t a part of this press launch.

1 Non-THC is outlined as under the extent of detection utilizing validated scientific analytical instruments.



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