PHOENIX, March 04, 2019 (GLOBE NEWSWIRE) -- (WWW.OTCMASSMEDIA.COM) – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG) is excited to announce that it has entered into a strategic partnership with Fastcorp Vending (“Fastcorp”), the world leader in frozen vending machine sales and a pioneer of innovative vending technology systems armed with advanced robotics.
According to management, the partnership will augment the Company’s mission to become the leader in the CBD vending machine market, which will augment its traditional CBD stores, mall kiosks, and e-commerce sales portals.
“100 million Americans will use one of 7 million vending machines each day,” noted the Company’s CEO, Nelson Grist. “The CBD market is poised for massive growth according to all available analysis, and automated vending machines clearly represent the most cost-efficient and highest-margin means of distribution for CBD. Our research suggests that CBD vending machines can be positioned according to consumer behavior patterns based on accessibility and demand. And, once established, the overhead is negligible. In short, we are thrilled to partner with the top innovator in the vending machine technology market.”
Fastcorp vending technology (fastcorpvending.com) features advanced robotics, WIFI network capability, seamless touchscreen interfaces, and advanced cashless payment options including Apple Pay and Google Pay.
Fastcorp CEO, Brian Weinstein, commented, “We are excited to be partnering with For The Earth in this emerging CBD market. This partnership aligns perfectly with our strategic objectives and we are confident that our technology is a perfect fit for their present and future needs.
FTEG management also believes that the CBD market suffers from a taboo limitation for some consumers due to its association with the cannabis plant. That suggests many consumers interested in CBD may favor a means of consumption that does not necessitate interacting with a full-service in-store purchase process. Vending machines may offer a strong alternative solution for such individuals.
Mr. Grist continued, “We are pressing aggressively at both ends of the equation right now: establishing our own extraction and production operation and broadening our interface with the end-market consumer. Nailing into place the best vending machine partner and strategy is a huge part of successfully navigating that equation.”
About For The Earth Corporation
For The Earth Corporation is an emerging integrated CBD producer and retailer in the United States. The Company is in the process of establishing a vertical framework that will extend from cultivation to extraction and production to a strategic retail footprint that includes multiple locations in Las Vegas and New York featuring mall kiosks, vending machines, e-commerce, and full store locations serving both the human and pet CBD markets. Two mall leases have been signed recently in Las Vegas, with another vending machine location secured in New York City. The Company plans to expand its New York vending machine penetration by the end of 2019. In addition, the Company has begun early-stage work to establish a state-of-the-art CBD extraction and production facility in Eugene, OR.
About Fastcorp Vending
Fastcorp Vending has been an industry leader in robotic retail and vending technology for decades. The DIVI machine contains the world’s most versatile and customizable technology, allowing endless possibilities in the automated retail space. Fastcorp Vending works with brands to create specific solutions that cater to their customers. Using our unique product storage and delivery system, the customer is presented with a contemporary user experience unlike that of a conventional vending machine.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See For The Earth’s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.