Leading herb and hemp cigarette company, Green Globe International (OTCMKTS:GGII) -Hempacco, announced on 20th July, 2021 entering into strategic agreement with a leading vending and amusement management firm, The Pelican Group. This will lead to rolling out ofHempBoxautomated vending machines selling CBD, CBG and hemp cigarettes as well as The Real Stuff hemp smokables.
The Pelican Group will ensure rollout of about 600 HempBox machines across extensive nationwide network and also all distribution and servicing needs. This will boost the firm’s financial performance through new revenue stream on a passive income in current fiscal quarter.
Its machines will give THC free, pharmaceutical grade CBD and also feature advanced robotics besides WIFI network capability and cashless payment options.Sandro Piancone, Chief Executive Officer of Green Globe International, said that the agreement will ensure nationwide rollout of its state-of-the-art and innovative fully automated CBD vending machines. Piancone added that the expanded distribution capabilities will augment overall brand recognition.
Sean Hanna, EVP of Operations for The Pelican Group, said that the firm will support national rollout. Hanna added that the kiosk is innovative and customers will like the user-friendly interface and that Hempbox did well to ensure age of users is 100% verified.
According to Technavio, thevending machine market size will grow by $ 11.24 billion in five years.
Market Reaction:
As of 11:32, GGII stock jumped 5% at $0.0102 with more than 31.56 million shares, compared to its average volume of 213.94 million shares. The stock had moved within a range of $0.0093 – 0.0118 after opening the trade at $0.0099. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1679.
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