Weed Inc (OTCMKTS:BUDZ)
Weed Inc (OTCMKTS:BUDZ) has completed the acquisition of Sangre Agro Tech as it continues to reinforce its asset base in response to the legalization trend that is sweeping North America and Australia. The acquisition brings to the table years of expertise and innovation in the fields of genetics, plant pathology, and unique agricultural practices.
Sangre AgroTech Acquisition
Sangre AgroTech has been working on a 5-year $10 million cannabis Genomic study as it seeks to complete genomic classifications of cannabis. Sangre’s research team is now expected to help WEED Inc. develop and come up with cannabis-derived compounds that can be used to treat various diseases.
“[…] As WEED’s first major acquisition, the ‘Brain Trust’ of our dedicated staff of PhDs at Sangre AgroTech will prove instrumental in achieving WEED’s goal of creating NEW strain-specific, disease-specific treatments, and cures over the next several years. Several patentable strains, along with accompanying THC and CBD compounds, look to be developed and achievable in our 5-year time frame,” WEED Inc. CEO Glenn E. Martin in a statement.
Scientific studies carried out by the two company’s research teams are expected to expand the portfolio of relevant medicinal strains in the treatment of various unmet medical conditions. Sangre AgroTech Chief Science Officer, Dr. Patrick Williams, believes a clear understanding of annotated genome of Cannabis strains is essential if the researchers are to come up with medicinal products for things like brain cancer, chronic pain, and PTSD.
Australia Expansion Drive
The acquisition of Sangre AgroTech comes months after Weed Inc (OTCMKTS:BUDZ) reiterated plans to expand its business portfolio into Australia with the formation of a new subsidiary in the country. Australia was the first country to legalize cannabis for strain specific and cannabis research.
Weed Inc (OTCMKTS:BUDZ) is currently in the process of applying for seven cannabis research, import/export manufacturing licenses. The Australian subsidiary is to work closely with Sangre AgroTech in completing a global genomic classification of cannabis.
“The cures are out there, from Autism (ASD) to Epilepsy. I am optimistic about WEED’s global corporate strategy to become a world leader in funding and finding cannabis research discoveries,” said Mr. Martin.
The recent developments highlight how focused the vertically integrated cannabis company is about its global goals. The company stands to enjoy immense growth given that it already has a head start on the development of medical cures utilizing marijuana.
Weed Inc (OTCMKTS:BUDZ) stock shed 14.81% in market value in Wednesday trading session to end the day at $1.14 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.