CORAL SPRINGS, FL, Aug. 23, 2016 /CNW/ - As cannabis and legal marijuana operations continue to gain momentum across the globe, companies and investors are turning to South America as a potentially lucrative operating market for the newest and most innovative products & operations. The Cannabis / Legal Marijuana Industry has recently seen a surge again in activity as new companies are emerging with new and innovative products and services. The markets have seen the latest movers in the industry to include South American Gold Corp (OTCPink: SAGD), Canna Security America (OTC: CSAX), GrowLife, Inc. (OTC Pink: PHOT), Terra Tech Corp. (OTCQX: TRTC) and Rocky Mountain High Brands, Inc. (OTC PINK: RMHB).
South American Gold Corp (OTC: SAGD) signed an agreement to become the exclusive South American distributor of Microbial Mojo GoGo, an agreement that the company estimates could easily lead to over one million dollars in new revenue to the company.
Read the full SAGD Press Release at: http://financialnewsmedia.com/profiles/sagd.html
Microbial Mojo GoGo is a unique liquid fulvic and humic acid extracted through a patented process. This unique extraction process amplifies the known effectiveness of liquid humic acids on plant growth by leaving the naturally occurring growth hormones intact. The product can deliver a physiological response in plants that can be seen in as little as 30 minutes after foliar application and growth responses that can be seen with the naked eye in as little as 24 hours. This agreement is an important step in implementing our strategic plan to become the exclusive distributor of high-value products which have shown the ability to develop high returns on investment to cannabis cultivators throughout South America's growing rapidly expanding market, " said SAGD's CEO, Cynthia Berain.
"While we will launch our distribution efforts in Uruguay, we believe that other countries in the region will continue making moves to further liberalize their cannabis laws," continued Ms. Berain. "By signing this exclusive distribution agreement for all of South America we've positioned ourselves strategically to benefit from this anticipated growth into more populous markets in the region."
In other cannabis/marijuana operations developments of note in the markets:
Canna Security America (OTC: CSAX) closed up over 8% yesterday at $0.065 on above average daily trading volume. CSAX recently entered into an amended and restated settlement with its now-former Chief Executive Officer (CEO), Dan Williams. The settlement, which includes Williams' resignation as CEO, also paved the way for new ownership from three investment groups who now own 50.19% of the Company, as reported in CSA's 8-K filing [JH1] of August 18, 2016. Capitalizing on the momentum created with the new ownership, and the vision of the board, CSA also acquired Colorado-based physical security firm, Big Al's Security (Big Al's).
GrowLife, Inc. (OTC: PHOT) closed even on the day yesterday at $0.0095 on just over 3.6Million shares traded by the market close. PHOT is a cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Through a nationwide network of local representative, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media (farming soil), industry-leading hydroponics equipment, plant nutrients, and thousands more products to specialty grow operations.
Terra Tech Corp. (OTC: TRTC) closed down 4% yesterday on slightly above 2.8Million shares traded by the market close. TRTC, a vertically integrated cannabis-focused agriculture company, recently announced its second quarter 2016 financial results for the period ending June 30, 2016. Derek Peterson, CEO of Terra Tech, commented, "We reported record revenues of $9.7 million in the second quarter of 2016, representing an increase of 93% compared to the prior year period. This excellent result was primarily driven by higher cannabis sales from our two new Blum dispensaries in Oakland, California, and Las Vegas, Nevada. In addition, our overall gross margins also grew from 5% to 17% year-over-year. This was the first reporting period that our top-line results benefited from our brick-and-mortar retail store locations and we are very pleased with the traction our dispensaries have generated. We expect to experience further benefits from our vertically-integrated, seed-to-sale structure, such as improved margins and better brand recognition in the market, as our retail operations scale. Looking ahead to the second half of 2016, we will open a further three Nevada-based dispensaries by the end of the summer season, including our next location at 3650 South Decatur Boulevard, Suite 6 & 7, Las Vegas, Nevada, which will host its Grand Opening later this week, on August 20th, 2016.
Rocky Mountain High Brands, Inc. (OTC: RMHB) announced last week that it has entered into an agreement with Water Event Pure Water Solutions (Water Event) of Carrollton, Texas to provide multiple services on behalf of the Company with both its Eagle Spirit Spring Water and its Rocky Mountain High Beverages. ROCKY MOUNTAIN HIGH BRANDS, INC., is a consumer goods company specializing in brand development of health conscious, hemp-infused food and beverage products.
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