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Hemp Inc. (OTCMKTS:HEMP) Surging On Massive Opportunity In Hemp Sector

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Hemp Inc. (OTCMKTS:HEMP) bounce back after a steep pullback is gaining momentum. The stock could as well break out of the current tight trading range, on renewed and strengthening investor confidence about the company’s long-term prospects. The stock has been trading in a $0.02 to $0.04 trading range for the better part of the year. Unlike other stocks that took a significant hit in the sector early in the year, Hemp Inc. held steady. With sentiments in the industry turning bullish in recent months, the stock could as well break out heading into the New Year.

Upward Momentum Catalysts

One of the catalysts fuelling the upward momentum is a report indicating that the stock is a ‘Buy’ heading into the New Year. Though not a marijuana company, investors have started taking note of the company’s huge potential in the burgeoning hemp-derived cannabidiol CBD market. The state of Oklahoma legalizing industrial hemp production is a development that has helped strengthen the stock’s sentiments in the market. The legalization is of great importance as it essentially increases agricultural revenues as well as employment opportunities for the company. Hemp Inc. has rallied by more than 100% over the past one month after initially coming under immense selling pressure that saw it plunge below the $0.03 mark. The phenomenon run now faces immediate resistance at the $0.04 level.

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A breach of the critical resistance level would be a significant development, as it will reaffirm the emerging uptrend. A rally followed by a close above the $0.04 mark should open the door for the stock to continue climbing high as bulls assume full control above the tight trading range.

Why is Hemp Inc.?

Burgeoning Hemp Market

Renewed investor interest comes on investors taking note of the fact that hemp-derived cannabidiol will dominate the cannabis sector in the years to come. The hemp market is on course to hit the $591 million mark on revenues, this year and could be worth more $22 billion by 2022. Hemp Inc. is a key player in the sector remains well positioned to be one of the biggest beneficiaries of the expected growth. “We are thrilled to be at the forefront of the hemp-derived CBD market that has already demonstrated record-breaking growth positioning us towards the very top of this multi-billion dollar industry,” said Hemp, Inc. CEO Bruce Purloin. In a bid to take advantage and gain big from the expected growth, Hemp Inc. has inked strategic partnerships with farmers across the U.S. The company has consequently started providing hemp education as well as infrastructure for cultivating processing and manufacturing hemp. Hemp Inc. has also started processing more than 100,000 pounds of industrial hemp from farms contracted in Oregon attesting to its growing empire. Its operations currently consist of 8 greenhouses made up of about 3,000 square feet each. The company has also inked a 500-acre strategic growing partnership with Veteran Village Cons Community to grow Hemp in Arizona.

Bottom Line

Hemp Inc. has continued to execute on its strategic vision of expanding its footprint across the U.S. Diversification has turned out to be the order of the day as the company continues to pursue revenue opportunities beyond its Headquarters in North Carolina. The building of an industrial hemp infrastructure that was nonexistent is a development that has strengthened Hemp Inc. growth metrics in the burgeoning sector. The company remains well positioned to benefit a great deal as an early mover as the nation continues to embrace the hemp-derived cannabidiol products. It thus does not come as a surprise that investors are starting to push the stock up the charts on taking note of the company’s long-term growth prospects. After the recent spike, the stock looks set to power above the tight trading range that formed early in the year on strengthening investors’ confidence.

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Kushco Holdings Inc. (OTCMKTS:KSHB) Reaffirms Its F2019 Revenue Estimate Of Between $145 Million And $150 Million

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KushCo Holdings Inc. (OTCMKTS:KSHB) has reconfirmed its annual revenue guidance for the fiscal year that ended August 31, 2016, of around $145million to $150 million in sales.

Major milestones and initiatives in 2019

KushCo made significant milestones in fiscal 2019 after it launched several major initiatives. The company rebranded and changed its name to “KushCO Holdings Inc.” with its main operating subsidiary now being Kush Supply Co. It also opened new corporates headquarters in Cypress California.

The company opened a regional distribution center in Taylor Michigan and a product sourcing office in China. The company has enjoyed efficiencies and cost-cutting across its business thanks to the implementation of a new Warehouse Management System across the various warehouse locations.

In a bid to enhance its growth, KushCo joined the Sustainable Packaging Coalition and partnered with Sungrown and IEKO. This will enable it to provide combustible products to its growing consumer base. They also partnered with CA Fortune to introduce retail services to CBD and Hemp brands. KushCo also secured credit facility with Monroe Capital of around $50 million, which is the first for a cannabis company.

KushCo’s long term strategy focuses on creating more value for its customers

KushCO CEO and Chairman, Nick Kovacevich, stated that besides the significant milestones and the transformative initiatives; they have managed to equally grew their business, thus effectively positioning themselves for success. He said that KushCo’s revenue growth for the fiscal year remained strong.

The CEO indicated that the company is currently in a better position, and they are excited about it. He said that KushCO currently has the right people, customer base as well as a growth strategy to enable them to expand. Kovacevich affirmed that they are growing and executing because of the work they have put in establishing a foundation and their optimal long-term strategy, focusing on the creation of value to customers.

Cannabis businesses are partnering with KushCo because of the value they present. Kovacevich stated that they would continue doing everything to create more value for customers and remain key to their success.

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The Wait Is Over For MedMen Enterprises Inc.’s (OTCMKTS:MMNFF) Proposed Acquisition Of PharmaCann

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MedMen Enterprises Inc. (OTCMKTS:MMNFF) has announced the expiry of the waiting period concerning the proposed acquisition of PharmaCann under the HSR Act. The expiry of the waiting period under the act fulfills the condition necessary to finalize the transaction.

Acquisition to enhance MedMen’s geographical footprint

MedMen CEO and co-founder, Adam Bierman stated that this is a significant step in the cannabis industry. He said that he was optimistic that it would open the way for other companies in what is seen as a highly dynamic and acquisitive industry.

The CEO further affirmed that MedMen had created a desirable footprint which has positioned its brand among the best in the biggest cannabis market in the globe. He added that the acquisition of PharmaCann would make MedMen be even a bigger brand for consumers. With the acquisition, MedMen now doubles the number of states where it currently holds licenses. This further extends the company’s geographic footprint as well as creates a massive opportunity for MedMen shareholders. Bierman concluded by saying that they are delighted they are almost closing the transaction.

MedMen entered an agreement to acquire PharmaCann last year

The company announced in December last year that it had entered into a definitive business combination deal to acquire PharmaCann. In March this year per the HSR Act, the companies received a “Second Request” from the Antitrust Division in the Department of Justice. On August 9 PharmaCann and MedMen confirmed significant compliance with the request for additional information. The waiting period, according to the HSR Act expired on September 9, 2019. The period automatically extended for 30 days following the declaration of substantial compliance by the companies with the Second Request.

According to the terms of the transaction, PharmaCann stockholders will receive around 168.4 million shares of the combined company. This will be based on MedMen’s fully-diluted outstanding shares as of June 29, 2019. However, the total stock is subject to adjustment depending on the company’s fully-diluted outstanding stock as of the date of closing the transaction.  

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Valens Groworks Corp (OTCMKTS:VGWCF) Enters Five Year Contract With Iconic Brewing For Production Of Cannabis-Infused Beverages

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Valens GroWorks Corp (OTCMKTS:VGWCF) has announced that it has signed a binding five-year white label cannabis beverage deal with Iconic Brewing’s cannabis division. Iconic Brewing is one of Canada’s best innovative beverage companies.

Iconic Brewing to produce 2.5 million cannabis-infused beverages

The white label contract requires Valens to provide Iconic with formulation services, top quality extracts, as well as SoRSETM emulsion solution for its cannabis-infused drinks. On its part, Iconic Brewing will have the obligation of branding and marketing the final products across Canada.

According to the terms of the agreement, the company should produce at least 2.5 million cannabis-infused beverages over five years. There is an option of expanding the partnership with new product offerings soon.

Valens CEO, Tyler Robson indicated that the partnership with Iconic Brewing is a major milestone for Valens. This is because Iconic Brewing is among the fastest-growing beverage companies in eastern Canada, and therefore they will be vital in helping Valens in the creation of a new product line of cannabis-infused beverages.

Valens and Iconic Brewing seeks to leverage each other’s strength in production

Robson lauded the ability of Iconic Brewing to formulate and predict trends which he said are second to none. This is evident from the success of their current beverage products enjoy. Their offerings include Picnic Wine Co, Liberty Village, Cottage Springs Vodka Soda, and Cabana Coast. The CEO added that for Valens to service the agreement, it will employ its proprietary emulsion solution SoRSETM Technology. The technology creates oil-based ingestible products as well as beverages that offer a steady experience with quick onset and offset.

Iconic Brewing’s head of cannabis division, Cole Miller stated that they were delighted to partner with Valens to create a new product line of cannabis-infused drinks. He affirmed the company’s unwavering dedication to enhancing the safe and reliable experience for new cannabis users through their low dosage and unparalleled product education. He added that with the proprietary emulsion technology of Valen, they are ready to deliver their promise of creating the world’s best cannabis-infused beverages.

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