G-Pel International Inc (OTCMKTS:KGET)
G-Pel International Inc (OTCMKTS:KGET) is closing in on the acquisition of United Cannabis Retailers. The move follows the acquisition of two other cannabis farms as the company continues to bolster its prospects in the fast-growing sector.
UCR & PCG Acquisition
United Cannabis is a product development company in the process of launching its first product line dubbed Canna-Kitchen. With the acquisition, G-Pel International Inc (OTCMKTS:KGET) will be adding a company that has the potential to diversify its product offering as it continues on its next phase of growth into the retail market.
Bolstering its cannabis product portfolio is G-Pel International Inc (OTCMKTS:KGET)’s core objective as it looks to accrue a substantial amount of market footprint in the multi-billion sector. The industry is on course to expand even further with the expected legalization of marijuana for recreational use in a number states next year.
“Our strategic plan to make cannabis products from our own farms is coming together with this targeted product development acquisition. We are strategically aligned with a cannabis network that is affording us to grow at an enormous rate. Our goal is for G-Pel International Inc (OTCMKTS:KGET) to be the brand consumers recognize and trust as the best quality and value to purchase,” said CEO Bo Linton.
G-Pel International Inc (OTCMKTS:KGET) is fresh from acquiring Pacific Cannabis Grower (PCG) through a definitive stock purchase agreement as it continues with its robust expansion drive. The company has consequently acquired a 51% stake in the company. Under the terms of the agreement, G-Pel International Inc (OTCMKTS:KGET) can buy out the remaining stake in 5 years’ time.
PCG is currently pursuing a cultivation permit in Humboldt County as it seeks to start cultivation of medical cannabis. Should the permits clear in time, the company expects two major harvests this year. G-Pel International Inc (OTCMKTS:KGET), on the other hand, expects the acquisition to help it focus on its expansion plan while also retaining crop quality.
New product development is expected to come into play with the partnership which should help G-Pel International Inc (OTCMKTS:KGET) accrue market share. PCG’s coup follows the acquisition of a 51% stake in Country Junction Farms. The acquisition drive is part of an effort that seeks to bolster production facilities and production lines. G-Pel International Inc (OTCMKTS:KGET) is also planning to use its new subsidiaries to supply other business ventures as well as develop award winning cannabis products.
G-Pel International Inc (OTCMKTS:KGET) stock was up by 50% in Friday trading session ending the week at highs of $0.0003 a share.
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About the author: Liam is a retired civil engineer with a passion for stock analysis. Living in Helena, MT, Liam keeps busy by tying flies for fisherman and discovering stocks that normally go un-noticed.