AMAZONAS FLORESTAL COM USD0.001
AMAZONAS FLORESTAL COM USD0.001 (OTCMKTS:AZFL) shares fell 10.53% amidst growing concerns on the impact of poor weather on the company’s operations. The natural resources company has had to delay the harvesting of Marquis M-1 High CBD Hemp at its 100-acre plantation in Colorado as it waits for the weather to improve.
The certified industrial CBD hemp producer was set to begin harvesting in September, but has had to postpone due to poor weather. The plantation has reached 100% of its growth potential after two years of planning and preparation.
“Recent inclement weather has delayed our fine-tuning of our harvesting equipment along with a recent snow we have been delayed a couple of weeks, however, we are very excited on our end to resume operations,” said Todd Williams Managing Partner at 303 Farms and Amazonas Florestal contractor in Colorado.
AMAZONAS FLORESTAL COM USD0.001 (OTCMKTS:AZFL) operates a cannabis portfolio through its wholly owned subsidiary, Amazon hemp Ltd. The company remains confident that the subsidiary will become the largest CBD-products supplier in Colorado.
The delayed harvesting spooked investors as seen by the stock’s underperformance. AZFL continues to trade at all-time lows after coming under pressure for the better part of the year. The stock is currently trading in a downtrend.
Amazonas’ Expansion Drive
The company continues to strengthen its cannabis portfolio as it seeks to improve its long-term prospects. Last month it secured a 10. 5 acre property in Weld County, Colorado. The property is to be used to store CBD flowers that are to be harvested as soon as the weather improves.
AMAZONAS FLORESTAL COM USD0.001 (OTCMKTS:AZFL) also plans to use the new site as a product laboratory site starting early next year. The company is also moving forward with plans to install a distilling equipment. It also plans to construct additional buildings that are to be used for product staging, processing, and storage. The company is refurbishing its facilities at Fort Lupton to be used in future as storage and lab/kitchen facilities.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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