HICKSVILLE, NY, May 12, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Can B Corp (OTCQB: CANB) (“Can B Corp” or the “Company”), a diversified health and wellness company would like to update shareholders about the status of the Company during these unprecedented times. Can B Corp, like most service and product companies, has been directly affected by the COVID-19 pandemic. We are pleased to announce the Company has received funding under the Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to help close the gap in lost revenues. Our employees remain available to return to work once the applicable federal, state, and local authorities announce it is safe to do so, and we intend to gradually reach and maintain a fully operational status. In the interim, the entire executive team has agreed to a 50% or greater salary cut while we work our way back into full engagement and production. The core production staff and executive team continue to develop opportunities and fulfill orders as allowable by the applicable guidelines, and the sales and marketing teams are fully sequestered, yet virtually engaged in product planning and roll-out.
The Company is actively taking online orders for our full line of CBD products and shipments have been executed in a timely manner to all our customers, while adhering to strict sanitary protocols and guidelines. The leading analytics firm for the CBD Industry, the Brightfield Group, has recently reported a significant increase in e-commerce sales for CBD products during the latest reporting period. The number one reported reason for the increase of CBD use was dealing with anxiety, which seems to be an unintended by-product of the pandemic.
As our country, state, counties, and towns begin to reopen, our Company will provide updates on all of our operating divisions. The company remains vigilant, committed to success, and motivated to deliver shareholder value.
CEO Marco Alfonsi commented, “I want to thank all of our employees, vendors, and shareholders for the patience and support shown during these difficult times. I remain optimistic and undeterred that we will put forward another record year of growth. I believe in our company and our people. We continue to work every day and look forward to having everyone back in the saddle as soon as possible. Please know that we are here for our customers and committed to continued progress and success.”
About Can B Corp.
Can B Corp is a health and wellness company dedicated to delivering the highest quality CBD products, consumer products, and related medical equipment. Products are sold to consumers online, via retailers, marketing partners, events, and through doctors and other medical and health and wellness organizations. Our products are designed, grown, and produced to the highest industry standards. Further, we are committed to serving our customers and marketing partners with not only the best products but the best service and experience in the marketplace now and in the future.
Can B Corp owns and operates a manufacturing facility under Pure Health Products in Lacey, Washington where all CBD based products are blended and packaged. Can B Corp owns and operates Duramed Inc, which sells medical supplies and devices. Can B Corp owns and operates NY Hemp Depot and Green Grow Farms, which are licensed to grow and cultivate Hemp in the State of New York.
For more information about Can B Corp, please visit: www.Canbiola.com or www.CanBCorp.com
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price.
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IR@canbiola.com(646) 397-2309Source: Can B Corp
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