Primco Management Inc. (OTCQB: PMCM) share volume shot through the roof Mar. 19, with 1,641,984,128 shares changing hands, more than 3.5 times its three-month average volume of 464,006,947 shares.
The surge in volume is being fueled in part by the Mar. 19 announcement that the Century City, Calif.-based multi-media and real estate development company has acquired Seattle-based Suzie Q's, a medical marijuana collective fully licensed by the City of Seattle.
Suzie Q's has been in operation for more than four years and serves over 1,500 patients. The agreement calls for the purchase of 100% of the assets of the co-op as well as the purchase and transfer of a Tier I Production License granted by the Washington State Liquor Board.
“The acquisition of Suzie Q's, one of the first fully licensed facilities in Seattle, gives us a base of operations which tie in perfectly with our plans in nearby Vancouver,” stated Primco’s CEO David Michery.
“Once we complete the acquisition of Suzie Q's, we believe that we can significantly increase the current revenue stream over the next few months. Primco is in the early stages of establishing a massive marketing campaign to launch our new brand. By delivering the highest quality medicine at competitive levels, the Suzie Q's brand will grow to become one of the most trusted names in medical cannabis,” he added.
Getting Its Ducks in a Row
This is just the latest move by Primco to enlarge its footprint in the medical marijuana industry.
The company entered into a joint venture with British Columbia-based CanMed Ventures on Feb. 24 to build and operate a 30,000-square-foot cultivation facility for the production of medical marijuana.
Primco said it expects to be fully licensed within 6 months and generating first-year revenues exceeding $20 million.
This is just Primco Management’s latest move to develop various properties in order to lease them to companies growing or selling legal marijuana.
Also Acquiring Property in Los Angeles
On Feb. 12 the company said it also planned to initially acquire property in the greater Los Angeles area with subsequent plans to extend its operations to Western states where medical marijuana is permitted by state law. The leased facilities will meet all zoning and licensing requirements for the ongoing, legal dispensing of medical cannabis. Primco will not engage in the cultivation or sale of medical cannabis or any of its byproducts.
PMCM’s share price closed at 0.0034 cents on Mar. 19, up 0.0014 cents, from its close of 0.002 cents the previous day.
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Recovering Housing Market Could Stimulate Video-Marketing Sector
Meanwhile, Parrish, Fla-based Real Estate Contacts Inc. (OTCQB REAC), a company that’s offering personal video channels for real estate agents to showcase their properties, enjoyed higher than average stock volume Mar. 19, with 111,826,304 shares changing hands, compared to its three-month average volume of 110,195,830.
If the real-estate market continues to recover in 2014 as forecasted, video technology companies that help Realtors showcase and sell their properties could become hot commodities.
That’s because 90% of the buyers who are searching for a home online say they seek out video listings first, according the National Association of Realtors (NAR).
Currently, 66% of real estate agents say they have their own Website to promote their properties, but only 4 percent of them use video to promote their listings on their sites, according to a survey taken the NAR.
Real Estate Contact recently launched www.realestatevideochannels.com, which it hopes will be in the position to eventually cash in on this potentially massive market. However, Real Estate Contacts has lots of competition from massive players such as YouTube that offers a free video channel to anyone who wants one. Still, if Real Estate Contacts focuses heavily on the real estate niche and offers real estate agents easy-to-use tools, it has a chance to establish itself in this burgeoning technology sector.
On Mar. 19, REAC shares closed at 0.0004 cents, up 0.0001 from its closing price of 0.0003 cents the previous day.
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Alternative Energy Partners Inc. and SK3 Group To Merge
In other news, Alternative Energy Partners Inc. (OTCQB: AEGY), doing business as PharmaJanes(TM), and SK3 Group (OTCPINK: SKTO), doing business as Medical Greens(TM), announced Mar. 4 that they have agreed in principle to merge the two companies for better market efficiencies and to create a single medical marijuana market support company.
The move is being made in part so the merged company can qualify for a higher (AMEX, NASDAQ) market listing.
Final terms of the merger are still being worked out and a merger agreement is expected to be signed within the next 30 days.
But the basic terms of the agreed merger call for SKTO and AEGY to merge into a newly formed holding company which will integrate the separate operations of both companies.
Applying for New Trading Symbol
Shareholders of each constituent party to the merger will receive shares of the new holding company, which will succeed to the SEC reporting obligation of AEGY and which will apply for a new trading symbol, a new CUSIP number, and continued electronic trading status with the Depository Trust Company.
The final exchange rate for the common shares of AEGY and SKTO will be based on the volume weighted average market value of each company on the record date, which has not yet been determined.
AEGY’s shares closed at 0.0068 cents on Mar. 19, down 0.0001 cents from its closing price of 0.0069 the previous day.
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Silver Falcon Mining Stock Volume Soars
In the mining sector, Silver Falcon Mining Inc. (OTCQB: SFMI) share volume also soared Mar. 19, with 43,503,540 shares changing hands, more than 3.5 times its three-month average volume of 12,009,295 shares.
The Bradenton, Fla.-based company is engaged in the exploration and development of gold and silver properties in the United States but has not issued any press releases or announcements since Nov. 4, 2013. So, it’s anybody’s guess what might behind it current uptick in stock volume.
Its last financial filing was Dec. 31, 2012 in which it reported an operating loss of $10.4 million.
SFMI’s shares closed at 0.0017 on Mar. 19, down 0.0002 cents from its closing price of 0.0019 the previous day.
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