GGII HPCO news?
7/25/2024 12:09am
Here is some news about GGII HPCO:
1. **Hempacco's Strategic Acquisitions**: Hempacco has been expanding its footprint through strategic acquisitions. The company acquired assets from Simtech LLC, MJAC Vending LLC, and Bear Air, LLC, which includes 120 Nayxs and vending machines with over 77 active booth placements and Disney-branded kiosks. This move is expected to enhance Hempacco's vending machine business and broaden its product offerings.
2. **Formation of Lucky to Be Beverage Co**: Green Globe International (GGII) and Good Stuff Manufacturing announced a collaboration to form Lucky to Be Beverage Co. This joint venture aims to develop and market innovative functional drinks, including hemp-based and functional mushroom beverages. This move is part of GGII's strategy to expand its presence in the beverage industry.
3. **Nasdaq Delisting Notice**: Hempacco received a delisting notice from Nasdaq due to non-compliance with the Nasdaq Annual Meeting Requirement and failure to file the Annual Report on Form 10-K and Quarterly Report on Form 10-Q. The company has submitted an appeal to Nasdaq, and the determination on whether to grant a stay is pending.
4. **Hempacco's Nutraceutical Manufacturing Capabilities**: Hempacco announced the acquisition of a portion of Covalent CBD's assets, which is expected to enhance its manufacturing capabilities and customer base in the nutraceutical industry. This strategic move is part of Hempacco's expansion plans in the rapidly growing hemp and mushroom supplement sectors.
5. **Illumination Brands and Hempacco's Letter of Intent**: Illumination Brands and Hempacco entered into a letter of intent to combine US operations, aiming to redefine the market by becoming a vertically integrated beverage & snack brand incubator in the USA. The combined company plans to introduce innovative functional beverages and shots, leveraging Hempacco's manufacturing capabilities and Illumination Brands' expansive distribution network.
In conclusion, Hempacco has been actively expanding its business through strategic acquisitions and collaborations, which is likely to enhance its market presence and product offerings. However, the delisting notice from Nasdaq poses a challenge that the company is currently addressing through an appeal process.