Weed Inc(OTCMKTS:BUDZ) has formed a strong base at the $1 mark where it has traded for several months on moderate volume. Investors are waiting for a pop as BUDZ does have a history of big moves.
On March 20 BUDZ announced it has entered into an exclusive license and assignment agreement with Yissum, the technology transfer company of the Hebrew University of Jerusalem Ltd., Israel. Under the terms of the agreement, WEED, Inc. agrees to exclusively license and, purchase from Yissum, certain patents, technology and know-how (upon payment of certain installments) relating to formulations for the administration and delivery of lipophilic compositions (including cannabinoids) developed by Prof. Elka Touitou at the Hebrew University of Jerusalem. Under the agreement, WEED is obligated to pay multi-million dollar consideration to Yissum, which is payable in installments and includes a product sales-related milestone payment, with WEED only receiving the exclusive license rights and the assignment rights to the above intellectual property after payment of the relevant installment payments.
Weed Inc(OTCMKTS:BUDZ) bills itself as a USA-based alternative reporting public company. WEED Inc. is a multi-national, multi-faceted, vertically-integrated world class Cannabis organization. WEED is structured as a holding company doing business through its divisions, wholly-owned subsidiaries, and strategically placed collaborative partners to achieve and promote our global brand. WEED is dedicated to its global goals and outreach across the full spectrum of the Cannabis industry to find treatments and medical cures utilizing the Cannabaceae plant family. WEED does not grow, harvest, produce, or sell any substance in violation of US Federal law under The Federal Controlled Substances Act, and meets all standards of international law for WEED, Inc. subsidiaries in foreign locations.
WEED operates a wholly-owned subsidiary Sangre AT, LLC which is a plant genomic research and breeding company comprised of top-echelon scientists with extensive expertise in genomic sequencing, genetics-based breeding, plant tissue culture, and plant biochemistry, utilizing the most advanced sequencing and analytical technologies and proprietary bioinformatics data systems available. Sangre AgroTech’s world-respected team provides decades of expertise and innovation in the fields of genetics, plant biology, plant pathology, phytoecology, and sustainable and environmentally sound agricultural practices. Using annotated genomic data and newly generated phenotypic data,
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Last year Sangre Agrotech completed their acquisition of property in La Veta, CO., as stated in our last press release for development of its Cannabis genomic research facility, The Sangre Bioscience Center. La Veta, located in southern Colorado’s Spanish Peaks region, is the new home for Sangre AT, LLC (dba “Sangre AgroTech”), the Company’s wholly-owned subsidiary. Sangre AgroTech has begun its 5-Year, $15+ million Cannabis Genomic Study to complete a global genomic classification of the Cannabis plant genus.
The site includes a 10,000+ sq. ft. building that will house the genomic research facility, a 4,000+ square foot building for plant product analytics and plant product extraction, a 3,500 sq. ft. corporate office center, and 25 RV slots with full water and electric, which the company plans to convert into a series of small research pods. This acquisition provides WEEDS’ Sangre AgroTech with the opportunity to expand its research mission through the construction of additional research laboratories and cloning facilities.
On March 20 WEED also announced it has entered into a consulting agreement with Prof. Elka Touitou, of the Institute of Drug Research, School of Pharmacy, The Hebrew University of Jerusalem. Prof. Touitou will serve as the chairperson of WEED, Inc.’s Scientific Advisory Board and will advise and support WEED, Inc. with respect to its scientific research and product development for this project.
Mr. Glenn E. Martin, CEO of WEED, Inc. said,
”WEED, Inc. has made history in the Holy Land! After several months of intense and productive negotiations along with several trips to Israel, WEED and Yissum have successfully concluded this multi-million USD exclusive license and assignment agreement. Further I’m pleased to announce that we believe this historic arrangement with WEED, Inc. and its wholly owned subsidiary WEED Israel Cannabis Ltd., for this exclusive license and assignment of five patent families held by Yissum based on the innovations of Professor Elka Touitou, will now allow us to move forward to help and benefit patients.”
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Currently trading at a $111 million market valuation BUDZ has $794k in the treasury, minimal assets and no revenues to date. BUDZ is an exciting story deceloping in small caps; the Company is a multi-national, multi-faceted, vertically-integrated world class Cannabis organization whos wholly-owned subsidiary Sangre AT, LLC acquired a research facility and has begun its 5-Year, $15+ million Cannabis Genomic Study to complete a global genomic classification of the Cannabis plant genus. We will be updating on BUDZ when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BUDZ.
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Disclosure: we hold no position in BUDZ either long or short and we have not been compensated for this article.