Shares of Cannabis Company Rise on New Agreement
Date
8/25/2021 1:15:13 PM
(MENAFN- Baystreet.ca)
Shares of Cannabis Company Rise on New Agreement
With increased legalization, the cannabis industry is on target for future growth. This company is one of the largest in the industry through world class products and distribution, and shares on rising after it announced a new agreement.
American Green, Inc. (OTCPK:ERBB), a leader in cannabis manufacturing and management, announced a new management services agreement with Curaleaf's two cultivation facilities in Arizona. Serving medical and adult-use customers in Arizona, Curaleaf Holdings is a leading international provider of consumer products.
The five-year agreement will provide American Green with approximately $2.1 million dollars in annual revenue and $10.4 million in revenue over the term of the agreement. American Green's premium cannabis is used in various Curaleaf and Select products, including some of their popular Live Resin offerings.
Traders were pushing shares up on the bullish news, up over 8% in late-morning trade at $0.0052.
MENAFN25082021000212011056ID1102680579
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.