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Santo Mining Corp (OTCMKTS:SANP) Finalizes MoU with Yunnan Industrial Hemp

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Santo Mining Corp (OTCMKTS:SANP) has finalized a joint venture MoU with renowned entity Yunnan Industrial Hemp targeting the U.S. hemp market. Under the deal terms, both firms will work together in advancing a global brand for all the CBD and hemp offerings Yunnan Industrial Hemp manufactures. The firm is planned to finalize a definitive deal in the imminent 2 to 4 weeks in Beijing and define a roadmap to market.

The details

Frank Yglesias, the CEO of Santo, stated that the fact that Yunnan Industrial can produce over 2 tons of premium grade CBD a year is impressive, they will be forming a team in the imminent weeks of professional Financial and Marketing experts to design a goto-market plan for the U.S. This JV will be a subsidiary unit of PODWERKS and the business structure will be developed during the upcoming weeks. The company will be reporting the structure and new directors.

Matthew Arnett, the CMO of Santo, added that the Hemp Business Journal predicted that the CBD industry will become a $2.1 billion market in retail sales by 2020 with sales of $450 million coming from hemp-based sources. The association with entities like Yunnan Industrial will help company become a force to recon with in the cannabinoid market. Their first objective will be to advance a delivery system for their cannabinoid to make them unique in the market.

Andy Suo, the GM of Yunnan Industrial, expressed that they are impressed with the pleasant understanding of China and its values that PODWERKS officials have, this is the base of this JV and its success, they are committed in making this deal a win-win for all.

Yunnan Industrial Hemp is a wholly-owned subsidiary unit of Yunnan Hanpu Health Products Co., Ltd. It is presently Chinas only government approved institution that can process, deal and plant in industrial hemp offerings on a large scale.


 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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