Under the terms of the agreement, the transaction value is $135,000 plus two million shares of stock. The acquisition is already proving to be successful as the first $100,000 sale has been made by Hemp, Inc.'s CEO, Bruce Perlowin .
"This transaction combines a world-class portfolio of branded clothing with Hemp, Inc.'s unique and unparalleled creativity for marketing across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value," said David Koral , Scrubnuts previous owner.
Perlowin, a 45-year veteran in the hemp industry, purchased the scrub company to provide sustainable, eco-friendly clothing made of natural fibers that are durable, elastic, and antimicrobial and transform it into the future clothing line of medical professionals worldwide.
Scrubnuts, originally owned by David Koral and Levi Koral , had successfully been making healthcare more joyful through fun clothing aimed at raising the spirit of patients and caregivers in clinical settings.
"Scrubs used to be white—the color of cleanliness. Then, one influential doctor switched to green thinking it would be easier on a surgeon's eyes plus, green has a very calming, soothing effect," said Perlowin.
"These scrubs will be the future of hemp clothing and I'm excited. We've been talking of partnering with the right clothing company over the years... Cartel Blue and many others. The future of hemp clothing will continue to ease suffering and promote healing through laughter and humor," said Perlowin.
Under Perlowin's leadership, Scrubnuts will evolve and pioneer into an even more advanced worldwide market with hemp scrubs, nurse's jackets, lab coats and more. In fact, Perlowin plans to donate an enormous amount of these scrubs to his Child Legacy project as one of the Benefactors of Humanity.
Also, Perlowin plans to give 10 percent of the sales proceeds to Patch Adams' Gesundheit Institute to aid in building a multi-million dollar free hospital in West Virginia. The institute is a not-for-profit health care organization specializing in holistic medical care based on the belief that one cannot separate the health of the individual from the health of the family, the community, the world, and the health care system itself.
Moreover, the acquisition of Scrubnuts will provide an outlet of sustainable clothing made of natural fabric for more eco-friendly clothing. The physical advantages of hemp fiber are its length, strength, durability, elasticity, and ability to withstand high temperatures without degeneration. It also has antimicrobial properties, as hemp is resistant to the growth of Aspergillus Niger... a fungus and one of the most common species of the genus Aspergillus. It causes a disease called black mold and is ubiquitous in soil, commonly reported from indoor environments. Furthermore, hemp can be grown without or very minimal herbicides and pesticides.
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