HempAmericana Inc (OTCMKTS:HMPQ)
HempAmericana Inc (OTCMKTS:HMPQ) rallied 11.18% as investors reacted to a number of strategic partnerships the company has recently inked. Selection of the company as the featured investment on a crowd funding site, minivest.com, also continues to fuel bullish momentum.
Monday’s rally helped uphold a rally that shares of HempAmericana Inc (OTCMKTS:HMPQ) began early this month. The stock is currently trading at the higher end of $0.01-$0.02 trading range ahead of immediate resistance at $0.03.
HempAmericana Inc (OTCMKTS:HMPQ) is a development stage company with stakes in the multibillion industrial hemp market. The company researches and develops industrial hemp in addition to providing hemp bags, hemp clothing, and hemp rolling paper products.
HempAmericana’s Strategic Partnership
The researcher and developer of industrial hemp products is currently finalizing negotiations for two strategic partnerships in Maine and New York. The partnership in Maine is for the development of a unique C02 low temperature, fluid oxygen, extraction machine. The company is on course to receive hundreds of thousands of dollars for the one of a kind extraction machine.
The strategic partnership in New York is for the growing of industrial hemp on 650 acres of land. The property in question also includes a 50,000 square foot facility where HempAmericana plans to operate an onsite extraction lab.
“We’re lowering our cost and increasing margins by shifting production from international to domestic. We plan on capturing a significant market share of the extraction business by scaling our extraction lab model to all 50 states and making them accessible to domestic and international companies,” said CEO, Salvador Rosillo.
The signing of strategic partnerships in Maine and New York comes at a time when HempAmericana is aggressively pursuing investment partners. The listing of the company in minvest.com strategically positions the company to receive investments of up to $500,000 from both institutional and retail investors.
Growing HMPQ Shareholder Base
Listing on Minivest.com according to the chief executive officer marks yet another milestone which could see the company attracting a diverse group of investors. The executive also expects the listing to help strengthen the company’s current shareholder base.
In addition to pursuing strategic partnerships and investments, the company HempAmericana Inc (OTCMKTS:HMPQ) has also started to sell its own CBD oil off its newly designed website. The company has also purchased an extraction machine that it plans to use to further strengthen its product line.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.