Demand Brands (OTCMKTS: DMAN) closed higher on Tuesday. Will it continue?
On Tuesday, DMAN gained 16.2% to end the session at $0.0093. Total volume for the session stood at 66.46 million shares – 10Xits average volume of 6.32 million shares. The stock opened at $0.0080 and moved within a narrow range of $0.0080 – 0.0144.
DMAN Issued News
On Tuesday, the company release news. Here are the key snapshots:
Demand Brands (DMAN) Acquires Lucky Chief
- DMAN announced that its wholly-owned subsidiary Pacific Technologies Group, Inc , has entered into an agreement with Viride Research Fund, LLC. (“Viride”), a leading company in the global cannabis industry.
- Under the agreement, DMAN, in exchange for an issuance of DMAN preferred and Common stock, will acquire Viriude and certain assets to be marketed under the brand “Lucky Chief™” http://www.luckychief.com, including Viride’s THC Genetics Library and its interest in an Extraction Lab and Dispensary.
- The acquisition of the synergistic assets is to advance a vertically integrated cannabis-focused consumer packaged business.
Ian Dixon, Chief Executive Officer of Viride, will join the DMAN Board and become its new CEO. Peter Erdekian will remain a Company Director and Lucky Chief™ Executives Trevor Norrbom will come on board as CTO, Marcus Childress as CFO and Andy Rudenstein as COO.
|SHARES OUTSTANDING||1.01 M|
|SHARE FLOAT (%)||–|
|% HELD BY INSTITUTIONS||–|
Recent Stock Performance
|+/- EMA(20)||0.0076 (+22.37%)|
|+/- SMA(50)||0.0064 (+45.31%)|
|+/- SMA(200)||0.0027 (+244.44%)|
|CCI20||267.7324||OverBought||Chaikin Money Flow||-0.2498||Sell|
|MACD||-0.0002||Sell||Money Flow Index||88.6537||OverBought|
|STOCH (14,3)||45.7447||Neutral||STOCH RSI||1.0000||OverBought|