Orlando-based holding company Branded Legacy, Inc. (OTCQB: BLEG) has entered a joint venture with a beverage company to produce, extract and purify kratom and its alkaloids.
On Wednesday, the company announced its venture with the beverage and snack company Apple Rush Co., Inc. (OTC Pink: APRU) and expects to add $300,000 in revenue a year.
Kratom is found on the leaves of the Mitragyna speciosa tree native to Southeast Asia. The effects of kratom vary depending on the species and the amount consumed but it can cause sedative or stimulating effects. Kratom is sometimes used for chronic pain, treating opioid withdrawal or recreationally but is not currently controlled under the Controlled Substances Act but some states prohibit its use.
The company recently announced it had sold Elev8 Hemp, LLC to Apple Rush Co, Inc for 100 million restricted common shares which will be distributed to shareholders of Branded Legacy.
“Our recent acquisition of Total Refinement Solutions (TRS) was basically to own the means of production for our CBD and Delta 8 products. Through our recent transactions with Apple Rush Co., Inc., the discussion of TRS helping with some Kratom products began,” Branded Legacy chairman Brandon Spikes said.
“We have been approached by several companies about white labeling products for them. TRS now gives us that ability and we will begin negotiating white label opportunities to add an additional revenue stream and continue our rapid growth,” Spikes explained.
Update: Exciting times in the plant! New equipment arriving for Kratom and Hemp extraction and purification. Working to purify Kratom in our lab. $APRU #doinitright #themissingelementyouneed pic.twitter.com/6pOZqLNpnh
— Apple Rush Company (@RealAPRU_NEWS) November 22, 2022
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“When I realized what they were capable of doing I approached them with the idea of doing a JV together. One thing led to another and here we are. We are very pleased to be working with TRS on some significant orders we have received for Kratom products,” Apple Rush CEO Tony Torgerud said.
Apple Rush produces sparkling juices and drinks for wholesale and retail clients in the United States.