Significantly decreasing product costs & opening distribution channel opportunities
Poko Group will now enter the enormous Wellness and Supplement market
LONDON, UK and BELFAST, NORTHERN IRELAND / ACCESSWIRE / December 7, 2021 / (CSE:POKO) – Poko Innovations, Inc., an award-winning international UK based CBD & Fintech company, is pleased to announce that their fully owned subsidiary Poko Group UK Ltd has recently entered into an agreement to purchase 20% of ROCKET SCIENCE SUPPLEMENTS LIMITED of Unit 23, Pitcliffe Way Industrial Estate, Upper Castle Street, Bradford, BD57SG (Rocket Science) in exchange for an undisclosed number of shares in Poko Innovations Inc. (POKO:CSE).
Rocket Science Supplements is a UK based contract manufacturer working within the VMS (vitamins, minerals, supplements) markets specializing in encapsulation, with the capacity to produce up to 80,000 (eighty thousand) capsules per hour. Their capsule options include both vegan and non vegan, CBD and non CBD health supplements, which will be available to Poko at base raw materials cost plus 10%, in return for shares in poko Inc. In addition to this the companies have agreed that Poko will have the right of first refusal to purchase the entire company at a later date. Rocket Science’s team has a proven track record in the Traditional Herbal Medicine space, and comprises Chemists, Drug Development Pharmacist and in-house compliance experts.
The deal is positioned to give Poko access to low cost production via Rocket Science who have the capacity to produce over 1 Million capsules per day, vegan softgel capsules and time release capsules. The agreement allows Poko Group to produce its own ranges subject to the costs mentioned above.
The partnership will strategically help Poko achieve its distribution goals through decreasing the cost of supplements supplied to the Poko group. This will allow Poko to approach larger distribution chains with more profitable, attractive pricing structures. In addition to this it will allow Poko to expand its product portfolio to include gut health, menopause and other high demand supplements to the market.
Strategic opportunities for Poko:
“This partnership is a very important step in our aim to increase our product footprint with UK & EU distributors who typically demand very high margins, and expand our retail footprint in the UK. It also allows Poko to bring more innovative ideas into development, allowing for a more robust product portfolio.”, David Hughes CEO and Co-Founder stated. “Having started early stage discussions with several large distribution networks in the UK, we have received many requests to expand our range to encompass supplements to boost our existing skincare range, so we believe that demand is there”.
Poko’s vegan and sustainable ethos meant that Rocket Science was a perfect match, allowing the company to create bespoke products not just for the Poko and Canndid range but also for customers of Cannmed Products, which is Poko’s whitelabel division.
Dominic Bartle, Director of Rocket Science Supplements says of the partnership, “I believe the Poko brands now have the low cost base that will enable Poko to become one of the leading wellness supplement brands in the UK. By working with the Rocket Science production & formulations team it has a substantial advantage of low product costs and flexibility to create custom formulations, giving it a huge advantage when talking to the large distribution networks.
Poko Groups ability to create quality brands has always impressed me, I feel with the exceptionally low production costs now available to Poko they can make serious inroads in the health supplements markets across UK & Europe. I feel it will be a very profitable relationship for both parties.”
The Poko Story
Poko Innovations Inc. in the 3 months since the closing of the private placement has been focused on planning and implementing the marketing strategies, expanding distribution channels in order to scale the business assets in 2022. Poko Innovations, Inc. is an award-winning international UK based integrated company with a robust portfolio of CBD brands, a financial services platform, LumiPay, a range of consumer brands and a roster of marketing and media sites.
The business is broken into independent units that work together to leverage their strengths: Poko comprises of four segments:
About The Poko Group, Ltd
The Poko Group is a collection of CBD focused companies that bring innovative, inspiring solutions to the CBD industry through the company’s leading platforms which, when working together, form a complete ecosystem.
The Poko Group has is an award-winning UK CBD company that has developed a unique business model comprising complete “turnkey solutions,” including fintech payment processing and white label opportunities. Poko plans to export its signature products to the EU and the USA. For more information, please visit https://www.pokogroup.com/.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could”, are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). 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.
Investor Relations:
Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: mike@plrinvest.com
LinkedIn
SOURCE: The Poko Group
View source version on accesswire.com:
https://www.accesswire.com/676367/Poko-Group-UK-Ltd-Agree-to-Purchase-20-of-Rocket-Science-Supplements
The Challenge awards a total of $1.5 million to support local workforce programs and close…
TIFFIN, Ohio, June 21, 2024 /PRNewswire/ -- Concordance Healthcare Solutions LLC, one of the largest…
RADNOR, Pa. , June 21, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider…
AUSTIN, TX / ACCESSWIRE / June 21, 2024 / Action Behavior Centers is thrilled to…
DUBLIN--(BUSINESS WIRE)--The "U.S. Electronic Medical Records (EMR) Market - Focused Insights 2024-2029" report has been…