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Boon Acquires Cali-Care Group $2M in Revenue With Projected $6M in Revenue

Boon Acquires Cali-Care Group $2M in Revenue With Projected $6M in Revenue
Boon 收购 Cali-Care Group 的收入为 200 万美元,预计收入为 600 万美元

GlobeNewswire ·  2022/10/24 20:07

SAN JACINTO, CA, Oct. 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Boon Industries, Inc. (OTC PINK: BNOW) ("Boon" or the "Company"), announces the acquisition of Cali Care Grp Inc., a California Corporation, and the appointment of William Reed and Paul Goyette.

Justin Gonzalez, former CEO and Chairman, stated, "After several months of negotiations, the company has moved forward to appoint William Reed as our new Chairman and CEO. I will remain on the Board of Directors and work with Mr. Reed in building revenue."

On September 7, 2022, and pursuant with the 8K filing on August 3, 2022, the Company appointed William J. Reed to serve as the Chairman of the Board of the Company and as its Chief Executive Officer, President and Secretary. Mr. Reed, 44, has over 20 years of experience in the cannabis industry building logistics management solutions. He founded the Cal Care Group, LLC and Cal Care Group Inc. where he continues to serve as its president and officer. Paul Goyette was appointed as Director and is an attorney that has been practicing law since 1988. He is currently the CEO of Goyette, Ruano & Thompson, Inc., a California-based law firm that he founded in 1992.

On October 1, 2022, and pursuant with the 8K filing, the company acquired Cal Care Grp, Inc., and William Reed, as the sole shareholder of Cal Care Grp, Inc., a licensed delivery and distribution company with locations in Southern and Northern California.

William Reed, newly appointed CEO and Chairman, stated, "Paul Goyette and I have been working together for several years, and we will build Boon into a solid company with a purpose. We are all looking forward to working together to grow Boon and increase revenue and assets. I have built Cal Care Grp over the years in developing the company's business model, resources, credibility, and increased cash flow year after year. Revenues for 2021 were $2M+ and on target for the same in year ending 2022. Our auditor will include the revenue and new assets on the consolidated financial statements ending 12/31/2022. We have new contracts that will produce $1M in Private Label sales, $3M+ in Retail sales and $2M+ in our distribution sales. Further, with the acquisition of Cal Care Grp, this allows Cal Care to private label Boon's BIODOX product and quickly ramp-up sales in the agriculture space."

About Boon Industries

Boon Industries, Inc. (OTC: BNOW) is a bioscience company that manufactures commercial chemical products with various applications in commercial sterilization for agriculture, warehousing, hospitality and medical facilities. Cal Care Grp Inc. is a wholly owned subsidiary of Boon Industries and is in the business of agricultural distribution, retail and private label delivery.

Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes," "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Company Contact

William Reed, Chairman and CEO
Boon Industries, Inc.
568 N. Greco Court
San Jacinto, CA 92582