Green Globe International Inc. (OTCMKTS:GGII) dropped 16% after the company announced an initiative to employ its current intellectual property to collaborate with leading companies in Mexico, Canada, and the US to produce cannabis cigarettes. Over the past two years company has been working on technologies for processing, manufacturing, and marketing hemp and herb smokable experiences, including scents, flavors, and textures.
The company announced a tech endeavor to employ its existing IP in the manufacture of marijuana smoking experiences, beginning with delivering machine-made cannabis cigarettes. According to the arrangement, GGII-Hempacco will not handle cannabis raw material or flowers, but the company will instead train partners already in the cannabis sector.
Sandro Piancone said that the company is currently considering high-speed marijuana cigarette manufacturing. He said that it wasn’t easy to make CBG, CBD, herb, and other cannabinoid hemp cigarettes. The company spent two years developing the tech to understand the method, the blends, the blends, and the apparatus that would allow it to produce millions of cigarettes every week. In the coming months, GGII is a stock to watch.
Market Reaction:
On Monday, GGII stock fell by 15.80% to $0.0128 with more than 101.11 million shares, compared to its average volume of 217.73 million shares. The stock has moved within a range of $0.0001 – 0.1679 after opening the trade at $0.0160. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1679.
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