CANNA CONSUMER GOO COM NPV (OTCMKTS:CBMJ)
CANNA CONSUMER GOO COM NPV (OTCMKTS:CBMJ) shed 30% in market value after announcing it had secured a new $500,000 funding commitment, from MGH. The company plans to use the amount to increase its buying power of mainstream media as it moves to pursue new clients and expand its reach in the multibillion cannabis industry.
The new funding appears to have spooked investors as it increases the company’s debt holdings. Wednesday’s sell-off brought an end to the bullish run that began early in the month. The stock is currently trading in a $0.02-$0.03 trading range. It awaits to be seen if the stock will continue to edge lower or if the selloff is a minor pull back.
Canna Broadcast Media/ Loudmouth is an established mainstream media placement company with relationships in Radio, Print, TV and online media. The company produces cannabis-based content that air in over 700 radio stations globally.
Growing Client List
Under the terms of the agreement, MFG is to transfer the $500,000 financing in pre-paid media placement opportunities and services. The cannabis broadcasting company can use the media assignment on television, radio, and digital display to market products for its clients.
“By receiving $500,000 in media funding, CANNA CONSUMER GOO COM NPV(OTCMKTS:CBMJ) is now able to increase its buying power of mainstream media for the cannabis industry which is expected to increase our margins, expand our reach, and allow us to place media for a greater number of clients,” said CEO, Mark Schaftlein.
The chief executive officer expects the funding to put the company in a stronger financial position as it pursues high net worth clients in the cannabis business. Canna funding solutions is one of the companies that has already bought media placement in CBMJ DBA worth $100,000. The placements are to be used to promote companies that the firm plans to invest in at the upcoming MJAC217 Investorhub International cannabis conference
CANNA CONSUMER GOO COM NPV (OTCMKTS:CBMJ) has already partnered Investorhub to bring mainstream awareness to the upcoming Los Angeles Premium Investment cannabis event. The company was selected as the official partner as it is the only media company in the cannabis space with access to mainstream network media.
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.