CHARLOTTE, N.C.--(BUSINESS WIRE)--cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the “Company”), one of the world’s leading and most highly trusted and recognized health & wellness CBD companies, announced today that it will donate up to $500,000 from its online sales to The Barstool Fund. In response to New York City’s shut down of indoor dining without a plan in place, David Portnoy and Barstool Sports have set up The Barstool Fund. The fund is not only helping restaurants and bars, but it is here for all small businesses around the country in need of help due to the effects of COVID-19. In under two months, Barstool Sports has raised over $30 million and has reached out to more than 150 businesses and counting.
“As fellow entrepreneurs and small business owners, we know firsthand how difficult the COVID-19 pandemic has been for so many small business owners here in America. Scott Coffman and I are honored for cbdMD to join Dave Portnoy in helping other businesses during this time of need. Small businesses are the backbone of the American economy; it’s good for America when small businesses thrive, and we urge other business owners to help however you can, as soon as you can,” said Marty Sumichrast, Chairman & Co-CEO of cbdMD, Inc.
“Beginning today, through the end of February, any topical purchased through cbdMD.com using code BARSTOOLFUND will receive a 25% discount. cbdMD, Inc. will then match the 25% discount in a cash donation to The Barstool Fund, up to $500,000. This way, not only do our customers win, but so do small businesses that The Barstool Fund will aid,” said Sumichrast. See offer details below for more information.
About cbdMD, Inc.
cbdMD, Inc. is one of the world’s leading, most highly trusted health & wellness CBD companies, whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD botanical skincare products, CBD bath bombs, and CBD pet products. To learn more about cbdMD and our comprehensive line of over 100 SKUs of U.S. produced, THC-free1 CBD products, please visit www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the expansion of the consumer market for CBD products and our ability to increase our market share, our limited operating history, our ability to expand our business and significantly increase our revenues, our ability to effectively leverage our brand partnerships and sponsorships, our ability to effectively compete in our market, our ability to achieve our net sales guidance, and our ability to report profitable operations in the future. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 as filed with the Securities and Exchange Commission (the "SEC") on December 20, 2020 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
1 THC-free is defined as below the level of detection using validated scientific analytical tools.
OFFER DETAILS:
Offer ends 11:59:59 p.m. PT on 2/28/21, or when $500,000 cap is reached. Void in MA, AL, IL, SC, MS & HI. 25% donation is based on price paid for product(s), excluding tax, shipping or other charges. Donation is to 30 Day Fund, Inc., DBA Barstool Fund, a 501(c)(3) charity, to help small businesses meet payroll, pay rent/utilities, and support employee benefits in all fifty states. Learn more about the program at https://www.barstoolsports.com/the-barstool-fund, and about 30 Day Fund, Inc. at https://va30dayfund.com/.
