Banjo & Matilda, Inc (OTC:BANJ) is rallying today as the small publicly traded company announced that it has entered into an agreement to acquire Spectrum King LED, the world’s premier full spectrum LED grow lighting technology.
“Spectrum King LED has a compelling story to share with the public. We developed a proven technology that has been very well received and we believe that this transaction positions the company to maximize shareholder value, especially with the favourable outlook for the sectors that we serve. Our transformative suite of cutting-edge LED solutions are ready for the next level of expansion and accessing the market should enhance Spectrum King’s business model, by accelerating our production and market expansion,” stated Rami Vardi, SKLED’s Founder and CEO.
Spectrum King LED is the premier LED grow light tech company, specializing in designing, manufacturing and selling full-spectrum LED grow lights (currently patent pending), for indoor and greenhouse applications, targeting a number of grow industries.
SKLED’s powerful advantages include innovative LED grow lights that are designed to mimic natural outdoor sunlight to help your plants grow healthier and yield better harvests, more consistently, with quality and intensity of light that they are accustomed to from natural sunlight, and at a lower cost than outdoor growing.
Shares of BANJ shot higher on the announcement but have given back some of their earlier gains. Nevertheless, shares are still trading higher by 33% at $0.012 in early-afternoon trading.