There were a number of stock which had managed to make significant gains on Monday and one of those was that of Wee-Cig International Corporation (OTCMKTS:WCIG), which ended the day with gains of as much as 25%.
Market Action
On Monday, WCIG stock slumped 25% to $0.0200 with more than 73.51K shares, compared to its average volume of 11.87K shares. The stock moved within a range of $0.0170 – 0.0220 after opening trade at $0.0170.
Wee-Cig International Corp. Signs Definitive Agreement to Acquire Controlling Interest in The Jamaican Brew House
The company, which is involved in identifying and then developing top tech firm in emerging markets, was in the news yesterday after it announced that it had reached a definitive agreement with regards to picking up a controlling stake in the firm The Jamaican Brew House. The Jamaican Brew House is credited for having come up with a technology that can be deployed to create a neutral liquid base from cannabis and that can then be used for a number of beverage and food applications.
It should be noted that the patent for the technology is still pending. The Jamaican Brew House is planning to begin the commercial sales of the products that it manufactures at some point the 2023 fiscal year. The acquisition is going to help Wee-Cig International in making an entry into the cannabis industry with a highly innovative partner company. Hence, it was perhaps not a surprise that the company’s stock experienced such a rally on Monday.
