The huge stock volume is being fueled in part by the Houston-based oil drilling company’s Apr. 7 announcement that it will launch a franchise program for edibles marijuana distribution with a marketing program geared toward licensed distributors in legalized marijuana states.
Drilling Company Promoting Marijuana Candy Bars
Last month, the company signed an agreement with Low Carb High, Inc. to help develop its healthy marijuana edibles brand. The company produces candy bars, and protein bars etc. for consumer consumption.
Smart Ventures said it will begin putting together a multi-level marketing program and franchise distribution network. The program would introduce aspiring entrepreneurs to the concept of franchise locations.
The franchise program would require franchisees to pay a $25,000 to $50,000 franchise fee and plus 20% royalty on sales of its products and all franchisees would perate under the parent brand name. The franchises will also carry and distribute products which will feature a variety of candy bars manufactured by a leader in the edible cannabis candy industry.
On Apr. 7, SMVR’s share price closed at 0.0123 cents, down 0.0004 cents from its closing price of 0.0127 cents the previous day.
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Sino Gas International Holdings Peppered with Potential Lawsuits
In the energy sector, Sino Gas International Holdings Inc. (OTCQB: SGAS) stock volume soared Apr. 7, with 201,561 shares changing hands, more than twice its three-month average volume of 90,122 shares.
Peppered With Potential Lawsuits over Acquisition
The Beijing-based natural gas company that provides energy to residential and industrial customers in in the People’s Republic of China is being peppered with investigations from various U.S. law firms. As of Apr. 8, at least nine law firms had issue press releases regarding their investigations.
The investigations are being made to determine if shareholders have potential legal claims against the board of directors of Sino Gas regarding possible breaches of fiduciary duties and other violations of law related to the company’s entry into an agreement to be acquired by Prosperity Gas Holdings Limited, in a transaction valued at approximately $74.9 million.
It should be noted that no lawsuits have yet been filed and that no allegations of any wrong doing by Sino Gas have been established or proven.
On Apr. 7, SGAS’s share price closed at $1.21, unchanged from its closing price of the previous day.
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Green Cures Inc. Appoints New Management Team
Meanwhile, Green Cures Inc. and Triton Distribution Systems Inc. (OTCPINK: TTDZ) announced the appointment of Mr. Robert Calkin as new chief executive officer, Meki Cox as new chief technology officer, Romeo O Cruz as new treasurer & board member, Dr. Wendy Osegueda as new South and Central America chief of operations & board member and the addition of Dr. Jhasmin Santizo to the board of directors.
The announcement of the new management team came less than a week after Green Cure’s Mar. 29 closing of its acquisition for controlling interest in Triton. The company is in the process of it changing its name and ticker symbol.
The California-based medical marijuana company said it would also the cancel approximately 300 million common shares owned by Green Cures Inc. and being acquiring assets (including intellectual property and products) into the company.
Name Change Strategy
Green Cures believes a new name and trading symbol for the company will help the market to identify its business focus following the restructuring and reorganization. The name of the company is to be legally changed to “Green Cures and Botanical Distribution, Inc.”
Triton and Green Cures also announced that Triton plans to acquire certain assets, including rights to domain names, certain trademarks with pending registrations and intellectual property, and certain existing products, which will be used in Triton's business.
The assets to be acquired include AllBotanical.com, AllCannabis.com, FutureMarijuana.com, CBDoil.us, and CBDcolorado.com, as well as exclusive licensing rights to all Green Magic and Green Cures products from Green Cures Inc., in order to enable the Company to move quickly with business operations following the restructuring plan completion. Management believes that acquiring these assets will enable the Company to begin commercial operations and implement its business plan, while offering initial products, allowing the Company to move forward more quickly in this fast-paced industry.
Additionally, Triton's management anticipates that the website Allbotanical.com will initially feature a total of 10 products, ready-to-ship, from the Green Magic line, along with additional products from other distributors. The Company intends to offer Green Magic Products to the public with an active Liability, and Packagers Protection Policy; therefore, the launching of Allbotanical.com is rescheduled for an expected date of April 14, 2014.
The company is also providing an update on the previously announced distribution of the shares of common stock of another publicly traded company, Privileged World Travel Club Inc., to stockholders of the company. Management is working to determine the best time and methods to make such a distribution, while balancing factors involved, including the costs and time required for undertaking such a distribution transaction, the performance of Privileged World Travel Club in the market and more.
On Apr. 7, TTDZ’s share price closed at 0.0455 cents, up 0.0059 cents from its closing price of 0.0396 cents the previous day on volume of 110,584,273 shares.
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The CannaBusiness Group’s Subsidiary Nor Cal Connection Moves Corporate Offices
Finally, The CannaBusiness Group Inc.’s (OTCPINK: CBGI) stock volume fell Apr. 7, with just 5,695,656 shares changing hands, significantly less than its three-month average volume of 7,819,183 shares.
CBGI’s share price closed at 12 cents, down 1 cent, from its share price of 13 cents the previous day.
The downward trend comes on the heels of an announcement Apr. 7 that the company’s subsidiary Nor Cal Connection corporate offices are being relocated to 905 Cotting Lane, Suite 160 Vacaville, Ca 95688. The building, will also house Nor Cal Connection's new warehouse and order fulfillment facility. It is anticipated that the move will be completed by April 15.
Jeff Jirod, Nor Cal Connection's chief executive stated, “This move is a huge step forward for the company. The office space accommodates our new team and the new on-site warehouse will improve management, operational and cost efficiencies.”
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