On Feb. 27, Hemp Inc.'s (OTCPINK:HEMP) wholly owned subsidiary, the Industrial Hemp and Medical Marijuana Consulting Co. Inc., signed an agreement with Greene Concepts Inc. (OTC:LKEN) to provide professional consulting services for its new Hemp Web portal.
The thrust of the consulting agreement will center on Hemp’s subsidiary helping source hemp-based products, including hemp-based ink, hemp paper and other industrial hemp related products for Green Concept’s “hemp-centric” website, the Hemp Exchange (http://www.globenewswire.com/newsroom/ctr?d=10070361&l=1&a=http%3A%2F%2Fhemp-x.com&u=http%3A%2F%2Fhemp-x.com%2F).
Access to Many Hemp Products
“Hemp, Inc. has been evaluating products in this industry for the last 5 years,” said Hemp’s CEO said Bruce Perlowin. “We have a vast resource of companies that produce hemp products that can enhance the Hemp Exchange portal and we have close relationships with these companies,” he added, in a written statement.
This is just the latest move by Hemp to expand its footprint into various sectors of the vast legal-hemp/marijuana business.
Developing Vaporizer Products
On Jan. 28, VaporBrands International, Inc. (OTC Pink: VAPR) announced it has entered into a Letter of Intent to form a joint venture with Marijuana Inc. , another wholly-owned subsidiary of Hemp.
Under terms of the proposed joint venture, Marijuana, Inc. will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks.
In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.
This is yet another move by HEMP through a subsidiary that certainly strengthens its position in the marketplace. It also filled a much needed gap in its vertical offerings. While it’s too soon to measure how this will affect HEMP’s overall revenue, it is a positive move.
Feb. 28, HEMP closed at 13 cents, down 1 cent from yesterday’s close of 1 cent.
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Making Colorado Connections
Meanwhile, on Feb. 26, U.S. Energy Initiatives Corp. Inc. (OTCPink: USEI) announced that its wholly-owned subsidiary USEI Cannabis Initiatives Corp. met with several promising companies in the Colorado marketplace as part of its new partnership with a Colorado-based strategic development and sustainable marketing firm to market products in the industrial hemp and cannabis industries.
This latest press release comes on the heels of Santa Clarita, Calif.-based alternative energy company’s Feb. 3 announcement that it had decided to enter the medical-marijuana and hemp industries to capitalize on opportunities and relationships it has in the sector.
“We have extensive relationships with legal growers, dispensaries, product developers, marketers, patent holders and other professionals in this industry; and we believe that it is necessary that we develop these relationships and opportunities,” said U.S. Energy Initiatives’ CEO Anthony Miller said, in a written statement.
Miller then went on to say the potential of the legal-marijuana market was just too big of an opportunity to pass up. “Our goal is strategically plan to make our Cannabis subsidiary as a very lucrative division of USEI and develop our own proprietary products and services,” Miller added.
Won’t Abandon Biodiesel
Miller also assured stockholders that the company was not abandoning its core biodiesel business because Hemp too is an integral part of its business. “Hemp is the legally grown, non-intoxicating cousin of the marijuana species and it is an excellent feed-stock for producing biodiesel,” Miller said.
It remains to be seen if adding medical marijuana to its portfolio will strengthen U.S. Energy Initiatives bottom line. For now, the company is just one of a myriad of penny stocks that are seeing gold from legal marijuana. Colorado is being flooded with them.
On Feb. 28, shares of USEI closed at 0.006 cents, down 0.0003 cents from 0.0063, the previous day’s close.
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Much Hype Goes a Long Way
In the nascent legal-marijuana market, it’s easy to mistake perception for reality, visions for real-world strategies and enthusiasm for a product as real demand. Yet, some of these penny stocks will surely become winners, while the majority won’t.
If hype equaled reality then Plandai Biotechnology (OTCQB: PLPL) is on a golden path.
The Seattle and Australian-based company recently announced that it had entered into an agreement with Diego Pellicer and Diego Pellicer Worldwide to brand its Phytofare(TM) Cannabis extracts.
The release when on to tout Diego Pellicer, saying that it has been the leading name in cannabis products for more than 100 years.
“Being able to sell the Plandai cannabinoid extracts under the Diego Pellicer name brings immediate name recognition and branding into the medicinal cannabis industry,” Plandai CEO Roger Baylis-Duffield said, in a written statement
Maximum Media Hype
The media showed up in large numbers at a Seattle press conference where marijuana entrepreneur and Diego Pellicer co-founder Jamen Shively announced he would be creating the first retail brand of marijuana in the United States.
Shively, a former Microsoft executive, was flanked by the former president of Mexico, Vicente Fox as he presented his plans to capture 40 percent of the worldwide marijuana market and answered a host of questions from the media.
Since then there has been a bevy of press releases touting the credentials of its head executives without any tangible news of products development or significant deals being made.
Whether all this hype one day will translate into solid revenue remains to be seen.
On Feb. 28, the share value of PLPL closed at $1.43, down 3 cents from $1.46, the previous day’s close.
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