VANCOUVER, BC — AREV NANOTEC BRANDS INC. is pleased to announce that it has agreed to enter into an operating agreement with Vapen Kentucky, LLC (“Vapen KY”), a Kentucky-based producer of CBD isolate and distillate, to supply extracted CBD oils from their local operation and provide production services to the AREV in Kentucky for AREV’s BARE branded line of CBD infused nutraceutical products.
AREV will, upon signing the operating agreement, advance USD$30,000 to Vapen KY to be utilized to build out the production facilities, as necessary. AREV will provide Vapen KY with the specifications for the processing and operating facilities, the equipment necessary to produce AREV’s products, and training for Vapen KY’s employees.
AREV will pay a service fee for production staffing and occupancy services as well as purchase CBD extracted oils from Vapen KY at prices to be agreed upon in the operating agreement.
The terms of the Transaction are subject to the negotiation and execution of an operating agreement. Details of the operating agreement will be disclosed once finalized.