Helping the southwest to grow, Denver-based Two Rivers Water & Farming Company (OTC:TURV) announced Wednesday it had purchased three hemp-focused businesses. Henceforth, Vaxa Global, LLC; Ekstrak Labs, LLC, and Gramz Holdings, LLC together, with Two Rivers, will be referred to as “Combined Companies”.
Two Rivers, with the buys, can now use its water assets with associated land to grow, cultivate, process and sell hemp-based products. The Combined Companies are first focused on Two Rivers’ irrigated farmland in Huerfano County, Colorado. There are plans to expand hemp production in 2020 and beyond.
To quote Two Rivers CEO Wayne Harding,“We are thrilled about the potential of our Combined Companies.We can now begin to fully utilize our land and water assets combined with the hemp focused vertical companies of Vaxa, Ekstrak and Gramz.”
Shares in Two Rivers ballooned Thursday, the day after the transactions, by seven cents, or 15.9%, to 51 cents, on volume of 467,000 shares.