Earlier today, Laguna Blends, Inc. (CSE: LAG) (LB6A.F) (OTC: LAGBF) announced the appointment of Bryan Loree to the positions of chief financial officer and corporate secretary. He will also join the company’s board of directors, effective immediately. Loree has roughly a decade of experience providing chief financial officer, accounting, financing and management services to a number of issuers on both the TSX Venture Exchange and the Canadian Securities Exchange, as well as a selection of private businesses. Loree will replace Stuart Gray, Laguna’s founder and chief executive officer, who formerly served as the company’s acting chief financial officer.
“It’s a pleasure to have Mr. Bryan Loree join our management team,” Gray stated in today’s news release. “His financial and accounting experience is impressive and will strengthen Laguna’s ability to seek quality business opportunities, financings and increase sales to profitability.”
In recent weeks, Laguna has remained focused on its overall growth strategy, including its strengthening position in the $63 billion global functional beverage market and its highly-anticipated entry into the $121 billion global skin care industry. Last month, the company signed a non-binding letter of intent to acquire the exclusive license brand name and existing inventory of CannaCeuticals of California, USA (“Canna”), a Swiss heritage firm leveraging cosmeceutical-grade cannabidiol (CBD) in a line of revolutionary skincare products. Upon closing of this transaction, Laguna will look to introduce these products to its existing affiliate marketing network, which accounted for unaudited sales of $105,000 during the 11-week period ended May 31, 2016.
The efficacy of Canna’s CBD face serum was studied in a recent clinical trial. The results, which were highlighted by Laguna, included a 100 percent overall improvement to the appearance of skin within 14 days of use. An impressive 85.71 percent of test subjects noted an improvement to their skin’s appearance within the first week. Adding a product of this quality to Laguna’s existing offerings, Caffe and Pro369, is expected to accelerate its existing sales strategy and strengthen the company’s overall brand exposure, and the Canna acquisition could foreshadow a number of other promising milestones for Laguna in the months to come. Ray Grimm Jr., president of Laguna, reiterated this optimism in a recent news release.
“The momentum we have gained in the last 30 days is testament to our commitment to the Laguna Blends brand, our affiliates, and our shareholders,” he stated. “With regard to our negotiations with Canna, we have a lot more potential and milestones on deck, and we look forward to updating our shareholders in the near future.”
For more information, visit www.lagunablends.com
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