(MENAFN- Baystreet.ca) A California-based micro cap just announced that it acquired a controlling interest in G.K. Manufacturing from Cannabis Sativa, Inc. Shares of CBDual Biotechnology Corp's parent company, THC Farmaceuticals, Inc. (OTCPK:CBDG) popped on the news as the company continues its expansion into the sector.
THC focuses on placing ATMs that are owned and operated by the company in third-party-owned high-traffic commercial areas. With the organization of its subsidiary and the acquisition of certain assets the Company has expanded its business to include the research and development of technologies to facilitate the legal production and sale of hemp, medical marijuana and /or legal recreational marijuana.
Traders were bullish on the news as shares popped up to a session high of $0.3468/share (+72.45%) following the announcement. This move is one of the first signs of life following the multi-week pullback it has experienced since February.
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