Cannabis Kinetics Corp (OTCBB:CANK) hit the OTCBB in September of this year at $1.25 per share and has been slowly trending up on the rumored $300,000 promotion from Investor-edge. According to message board posters some have been receiving sales phone calls from some outfit in Indiana on CANK.
CANK entered the Cannabis sector just in time for November after changing their name from Ventures, Inc back in May. The Company also affected a 1 for 10 forward stock split on May 10 in tandem with the reverse merger.
Cannabis Kinetics Corp (OTCBB:CANK) is a fully integrated cannabis management company with an office location in the Westminster suburb of Denver, Colorado. Founded and managed by experienced marijuana industry professionals, the Company has targeted various opportunities in the Colorado marijuana marketplace with a focus on the management of recreational and medical marijuana retail dispensaries, the management of licensed marijuana cultivation facilities, production and distribution of hemp and marijuana infused food & beverage and ancillary products.
Additionally, CANK will provide management of retail and wholesale operations for grow stores and intends to pursue additional business opportunities within manufacturing, equipment leasing, real estate, product licensing and distribution, and other strategic acquisitions. Cannabis Kinetics anticipates expanding this business model into other select marijuana friendly states.
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On October 17 CANK announced that it has signed the definitive agreement for the purchase of the operating assets of The Big Tomato, an established Denver area store, warehouse distribution facility, and online hydroponics and indoor garden supplier.
As per terms of the binding Merger Agreement, Cannabis Kinetics will acquire all the operating assets of The Big Tomato for a total purchase price of $2,400,000 in cash ($400,000 payable at closing and the balance payable over two years in eight (8) equal installments of $250,000 commencing six months from the closing), and 3,000,000 restricted common shares of Company stock.
“The successful acquisition of the The Big Tomato and its established operations will be a significant, positive milestone event for all Cannabis Kinetics stakeholders. The acquisition will mark the start of our strategy to build momentum for both The Big Tomato and our proprietary Monarch brand on a national basis,” commented Eric Hagen, CEO of Cannabis Kinetics Corp. “In addition to providing an immediate revenue stream of approximately $200,000 per month to the Company, this acquisition provides access to The Big Tomato’s incredibly knowledgeable and experienced staff to build and leverage our cannabis sector consulting business in each new market we plan to expand into.”
Conclusion: CANK hit the OTCBB just in time for November as its widely expected the sector will light fire again once again providing investors spectacular gain opportunities. CANK has been slowly moving up off $1.25 on accelerating volume and it smells like promo.
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The rumored phone room from Indiana and the $300,000 Investors edge Promotion should help to push this one up. One thing longs are betting on is that the Cannabis sector will heat up again as The Florida Right to Medical Marijuana initiative, Amendment 2 is on the November 4, 2014 ballot in the state of Florida as an initiated constitutional amendment. The measure, upon voter approval, would legalize medical marijuana in Florida.
If pot stocks heat up again and there is much to suggest they will, CANK might be the perfect trade vehicle to cash in on this coming trend. Currently trading at a $37 million market valuation CANK is one pot stock that deserves to be on investors radars here.
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Disclosure: we hold no position in CANK either long or short and we have not been compensated for this article.