On Apr. 1, Primco Management Inc. (OTCQB: PMCM) announced that it has begun construction on Suzie Q's, its first medical-marijuana collective, in the final phase of the Washington State Liquor Board Tier I Producer/Processor licensing process.
Once completed, the new upgraded and fully compliant facility will pave the way for the issuance of the Producer/Processor License.
It was Mar. 19 when Primco first announced it had 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.
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.
On Apr. 3, PMCM’s share price closed at 0.005 cents, down 0.0006 cents, from its close of 0.0056 cents the previous day.
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Nuvilex Inc. Stock Volume Soars on News of Master Services Agreement
On Apr. 1, Nuvilex, Inc.’s (OTCQB: NVLX) stock volume soared Apr. 3, with 22,585,620 shares changing hands, nearly double its three-month average volume of 12,293,872 shares.
The upsurge in stock volume come only two days after the Silver-Spring, Md.-based biotech company announced that it has signed a Master Services Agreement with Translational Drug Development in which the company will conduct preclinical and clinical studies in support of the development of Nuvilex's pancreatic cancer and other treatments utilizing Cell-in-a-Boxtechnology.
This is just the latest of several upbeat press releases from the company that is working on optimizing the anticancer effectiveness of cannabinoids announced
Gets $2 Million in Initial Funding
On Feb. 24, the company announced that Lincoln Park Capital purchased 8 million in restricted shares of Nuvilex in exchange for an initial $2 million out of $27 million set aside to advance the company's late-phase pancreatic cancer clinical trials.
Over the last year Nuvilex has issued a bevy of positive press releases about how it is positioning itself and recruiting and hiring the top researchers in the medical-marijuana field. But so far, the company has not produced any concrete products or services for the industry. Neville’s cannabis business appears to still be in the developmental stage. Still, it has hired the brain power that eventually could make it a real player.
On Apr. 3, NVLX’s share price closed at 45 cents, up 6 cents from its close of 39 cents the previous day.
Novus Robotics Inc. Stock Volume Soars
Meanwhile, Canadian –based Novus Robotics Inc. (OTCQB: NRBT) stock volume soared Apr. 3, with 522,529 shares changing hands, more than double its three-month average volume of 252,543 shares.
What is fueling this sudden surge in volume is unknown because the Canadian –based company that designs, manufactures, and markets industrial and consumer products has not issued any press releases, made any news and doesn’t have a listed Web site. In fact, it hasn’t listed any new financial reports since Dec. 31, 2012.
On Apr. 3, PNRBT’s share price closed at 24 cents, down 2 cents, from its close of 26 cents the previous day.
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