FBEC Worldwide Inc (OTCMKTS:FBEC) is a company with a unique product called the WolfShot. The WolfShot is an energy shot infused with hemp. The beverage company is committed to making more proprietary products, such as the WolfShot, and reaching specific target markets domestically and internationally. Through creative marketing and customer satisfaction, the company has formulated many growth strategies that will be geared towards specific demographic groups.
The company has stayed true to its promise to grow, as they have announced two letters of intent (LOI) recently. The first one was with CBD Globe Distributors Ltd. to sell the Company’s WolfShot in both Europe and the United Kingdom. The LOI states that FBEC Worldwide Inc (OTCMKTS:FBEC) would also collaborate with CBD Globe Distributors’ CBD product line, the Ma Brand, and manage sales, marketing and distribution in the United States. The second LOI was aimed at forming a strategic Joint Venture with the recognized hemp energy shot brand, DuBe(R). This partnership would also result in entering a new infusion into the market, CBD infusion.
The best part about FBEC Worldwide’s expansion is that one LOI even turned into a Joint Venture Agreement. On November 16th, the company announced that a Joint Venture agreement was signed with CBD Globe Distributors Ltd. As a result, FBEC Worldwide will own 50.1% of the new Joint Venture LLC and receive 50% of the net profit from its projects. Here’s what CEO Jason Spatafora had to say:
“Executing this Joint Venture enters FBEC Worldwide, Inc. into the rapidly expanding CBD industry. I have been searching for the best way to cost effectively capitalize on this growing market and CBD Globe Distributors offers a turnkey operation built around their ultra-high-end CBD Ma brand. I couldn’t be more excited to work with a company with such a high quality product.”
All of this great news was reflected in the market as well. On October 27th, FBEC was at a low of $0.0262 and had a volume of 404k. On November 19th, FBEC grew 167% and saw a high of $0.07 with a volume of three million shares. With the company working to expand, it would not see a surprise to see FBEC grow at similar rates in the future.
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