Green Globe International Inc (OTCMKTS:GGII) was down a bit on Tuesday. The stock has been gaining momentum over the past 6-month with a gain of 1000%.
Market Reaction
On Wednesday, GGII stock ended lower by 7.69% at $0.0276. Volume was hefty with more than 244.53 million shares traded hands, compared to its average volume of 214.38 million shares. The stock opened at $0.0300 and moved within a range of $0.0256 – 0.0369.
Major Trigger:
Herb & CBD Hemp Cigarette Industry Leader Hempacco Announces Completion of Reverse Merger with Shareholders of Green Globe International, Inc., Ticker GGII
Key Highlights:
- announced the completion of their previously announced consolidation where GGII acquired Hempacco.
- GGII acquired Hempacco for 70,312,160,174 shares of common stock already issued to Hempacco shareholders.
- The shares are restricted securities which will not be eligible for resale under Rule 144 for at least one year following the date that Green Globe files registration-statement disclosure information regarding Hempacco, its business operations, and financial statements, with the SEC (and assuming the other requirements of Rule 144 are met at that time), unless the shares are registered with the SEC before then or another exemption from registration is available.
Key Quote:
“As a publicly-traded company, we believe we are now better positioned than ever to begin our strategy of disrupting the nearly trillion-dollar tobacco industry through our intellectual property, our herb and CBD, CBG hemp smokable products including hemp cigarettes, joint venture agreements to develop, and produce products from our R&D and manufacturing facility in San Diego, and with sales and distribution including our six hundred Hempbox™ vending machines,” said Sandro Piancone, Chairman and CEO of GGII.
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