Fri, 29 May 2020

Hemp Haze(TM) Products Granted Federal Label Approval

ACCESSWIRE
10 Feb 2020, 21:55 GMT+10

FORT WORTH, TX / ACCESSWIRE / February 10, 2020 / Global Resource Energy Inc. (in process of changing the company's name to G Beneficial, Inc.) (OTC PINK:GBEN) is proud to announce that all steps have been completed and TVM, LLC's Hemp Haze™ Brand has received approval from both The Alcohol and Tobacco Tax and Trade Bureau (TTB) which is a bureau of the United States Department of the Treasury, which regulates and collects taxes on trade and imports of alcohol, tobacco, and firearms within the United States, and The Texas Alcoholic Beverage Commission (TABC) which is a Texas public agency responsible for regulating, inspecting, and taxing the production, sale, and use of alcoholic beverages within the state.

The TTB approval grants the company the ability to apply to sell in all 50 states and The TABC approval of the new labels means that the newly revamped packaging will be on Texas shelves very shortly. The previously labeled products are still on the shelves in Georgia as well as Texas. The company is moving forward to securing the new labels for placement on the shelves in Georgia.

The passage of the 2018 Farm Bill in the US is propelling growth in the spirits industry. Hemp Haze™ is proud to be one of the first to create a foothold in a market still in its infancy. With the Hemp Haze™ new branding direction, the company is seeking product placement within the Ready-to-drink section of retailers.

The U.S. trails some other countries when it comes to the size of the RTD cocktails market, which possibly hints at how much potential for growth there is. Sales of RTD cocktails in the U.K., for instance, were about 2.6 times greater than in the U.S. in 2016.

Over the five years leading to 2018, industry revenue has increased at an annualized rate of 2.5% to $5.1 billion. Per capital expenditure on alcohol has steadily grown over the past five years, increasing at an annualized rate of 1.7% to $682.3 per person in 2018. While percentages continue to increase year over year, it is considered that growth for 2020 will be consistent with previous forecasts.

The Hemp Haze™ products are available online through the company's website hemphazed.com and can be directly shipped to 39 states.

About GBEN

Global Resource Energy, Inc. is a Nevada Corporation currently focused in the wellness product retailing industry. We seek to invest in well-positioned wellness companies with strategic improvement potential and partner with management teams to create value by driving revenue and earnings growth.

About TVM, LLC

TVM is a Texas based company currently producing four flavors of hemp infused ready-to-drink cocktails. TVM was the first to receive TTB approval for a hemp infused alcohol product. TVM, LLC is a wholly owned subsidiary of Global Resource Energy, Inc. (GBEN).

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'estimate,' 'believe,' 'intend,' or 'project' or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Contact:

Global Resource Energy, Inc.
Investor Relations
info@gbeneficial.com

SOURCE: Global Resource Energy, Inc.



View source version on accesswire.com:
https://www.accesswire.com/575848/Hemp-HazeTM-Products-Granted-Federal-Label-Approval

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