SOL Global Takes Over 10% Stake in Chicago-Based Hemp Company

SOL Global Investments (CSE: SOL) (OTCQB: SOLCF) announced that it is making a strategic investment in Chicago-based premium hemp company Sacred Hemp.

Story continues below

SOL has acquired a 10.3% stake in Sacred, which makes hempseed oil-infused products including pain relief balms and oils, feminine products, massage oils, salt soaks, and personal lubricants.

The company will assign its position in Sacred to its hemp/CBD-focused international subsidiary Heavenly Rx.

The company did not disclose the amount of its investment.

What Sacred Offers

Sacred’s product line includes its all-natural pain relief balms and lotions, made from a combination of natural hempseed oil extracts, essential oils, and menthol.

The company’s Therapeutic Massage Oil is designed for the most sensitive skin types and can help to reduce muscle inflammation and relieve muscle aches and pains.

Sacred also offers four different varieties of salt soaks, including its Acai Berry Soak and its Dead Sea Salt Soak, as well as two varieties of natural hemp oil-infused personal lubricant, designed to enhance intimacy without irritants or harsh chemicals.

The company’s female specific products include a PMS Pain Balm as well as an all-natural feminine wash.

Sacred Hemp CEO Silvia Orizaba said that SOL’s investment will help the company “pursue Food and Drug Administration approval for its hemp seed oil-derived pain relief balms and lotions, with the aim of becoming among the first hemp companies in the United States to receive FDA approval.”

“SOL’s investment will also help our company fortify and expand our existing product lines, as well as ramp up our consumer outreach efforts.”

Meanwhile, Andy DeFrancesco, chief investment officer of SOL, stated that Sacred’s hemp-derived products line “is the perfect addition to Heavenly Rx’s substantial portfolio of hemp and CBD companies.”

An ad to help with our costs