Reorganization Filed by RTXBQ Exit Strategy Includes Sales of Cannabis Energy Drink CHILLO
March 17 2014 - 9:20AM
Marketwired
Reorganization Filed by RTXBQ Exit Strategy Includes Sales of
Cannabis Energy Drink CHILLO
DALLAS, TX--(Marketwired - Mar 17, 2014) - Republic of Texas
Brands, Inc. (PINKSHEETS: RTXBQ), through its totally owned
Cannabis-Holdings.com website, has started delivering CHILLO-energy
drink product to various wholesale and retailers in the State of
Texas. Brisk Sales of the CHILLO-energy drink has been at the
forefront for the company to file a reorganization plan on Friday
with the courts, and the company is seeking to leave Chapter 11
reorganization status soon.
"Sales to new accounts have been strong, and we are just
beginning to get restocking orders through Chill Texas from several
retailers who have gone through the CHILLO inventory at a
surprisingly brisk pace," says Randy Safford COO. "The product
sells itself and retailers are hungry to get CHILLO on their
shelves, our phones are ringing and we have already received orders
for new product offerings that we have yet to announce.
"The Reorganization plan filed, we believe, will be looked upon
favorably and accepted by the courts, and Republic of Texas brands
will be able to exit Bankruptcy in the near term future. Here
are some of the highlights of the reorganization plan."
Upon confirmation of the Plan, the Debtor shall receive a cash
infusion of $50,000 from Jerry Grisaffi. These funds will be used
to cover overhead and to operate the company and make any Plan
payments, if needed.
Upon confirmation of this Plan, the Debtor will acquire the
company Chill Texas, Inc. for the exclusive distribution rights to
Chillo Hemp Energy Drink in Texas. The Debtor believes this new
avenue will provide sufficient income to pay the plan payments and
provide the Debtor inroads into the new hemp based products
market.
There are no plans for share cancellation or stock
reversals.
"Our totally owned Cannabis-Holdings.com has placed an order for
an additional tea based herbal drink sku in its product lineup, and
upon manufacturer shipment of the product it will be announced and
inserted at the Amazon.com and the Cannabis-Holdings.com
storefronts. We are very excited that our product lineup is
expanding and that more exciting sku's will be announced in the
very near future."
Click here to order CHILLO product via AMAZON.com:
http://www.amazon.com/gp/aag/main/ref=olp_merch_name_1?ie=UTF8&asin=B00DE1EZMG&isAmazonFulfilled=0&seller=A2KX6CKNKJOQAL
About CHILLO Energy Drink:
Chillo is a new hemp energy beverage designed to enhance any and
all recreational activities. The blend of vitamins and hemp seed
extract give Chillo the unique flavor and energy experience. Hemp
seeds are proven to improve health in the areas of metabolism,
digestion, and caloric balance. Drinking Chillo will boost your
system, relieving tension, while bringing about excitement,
motivation, and a great experience.
About Republic of Texas Brands Incorporated:
Our mission is to find the premier cannabis and hemp industry
innovators, leveraging our team of professionals to source,
evaluate and purchase value-added companies and products, while
allowing them to keep their integrity and entrepreneurial
spirit.
To see the new direction the company is going please visit the
company website at: http://www.cannabis-holdings.com and our
original website at: http://www.republicoftexas.com.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: Randy Safford COO Email Contact
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