Micro Cap Cannabis Company Pops On Acquisition

Micro Cap Cannabis Company Pops On Acquisition

By: Dylan Sikes – AllPennyStocks.com News

Thursday, November 12, 2020

Shares of this Vancouver-based micro cap are up 20% after it announced that it signed a binding letter of intent (“LOI) with Full Spectrum Biosciences (“FSB”). According to the release, FSB is “an intellectual property, formulation and white label provider that has conducted sales via e-commerce, online, Amazon and doctors’ offices within the United Stated offering popular CBD, CBG and Hemp oil extract products.”

The acquiring company is engaged in the production, processing, retail and branding of cannabis and cannabis-related products. With the increasingly popularity of companies in this space, any hint of mergers and acquisitions can potentially lead to exciting price moves.

Primo Nutraceuticals Inc. (CSE:PRMO) will be acquiring the assets and inventory of FSB. Traders seemed to be excited on the news of this acquisition, as shares popped to $.12/share (+20%) in early trade. This move could potentially end the down trend this company has seen for the last six months as shares have fallen from a high of $.45 during that span. 

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