Global Quest Ltd (OTCMKTS:GLBB)
The momentum around Global Quest Ltd (OTCMKTS:GLBB) shows no sign of slowing down weeks after the company announced the formation of a subsidiary dedicated to the distribution of nutrient supplements. Renewed investor sentiments on the stock in the recent past seem to have been fueled by a recent distribution agreement that the company signed with Camino Products LLC.
The exclusive distribution agreement is for the distribution of the company’s AminoD Sleep and AminoD Relief natural remedies throughout the U.S. The first batch of shipments are set to arrive in outlets over the next 8 weeks.
In a bid to increase sales, Global Quest Ltd (OTCMKTS:GLBB) says it plans to broaden its product line(s) as it attempts to leverage the Camino distribution channels. The company is also marketing its products for their medicinal capabilities reiterating that they are designed to help provide relief from inflammation as well as sleeping disorders.
“These nutrient supplements are distributed under the Global Quest brand name and patients may purchase them directly from doctors, dispensaries or via Global Quest’s website. Patients can also choose to sign a subscription agreement for convenient monthly deliveries direct to their homes,” Global Quest in a statement.
The Global Quest Ltd (OTCMKTS:GLBB) bid to target dispensaries, in additional to retail consumers, with its line of supplements is part of an effort that seeks to diversify its revenue stream. The company is also selling products directly from its site and has a subscription program in place.
Separately, regulatory filings show that Teller, a Colorado limited liability company, and Richard C Wiener signed a purchase agreement for the purchase of Global Quest Ltd (OTCMKTS:GLBB) stock. According to the agreement, Mr. Weiner purchased 7 million shares held by Teller for $0.001 a share representing 69.65% of the outstanding shares.
Global Quest Ltd (OTCMKTS:GLBB) stock rallied by 4% in Wednesday trading session and ended the day at $0.26 a share.
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.