Mountain High Acquisitions Corp (OTCMKTS:MYHI) is again running up the charts. MYHI was a bit late to the cannabis party. Most stocks in the sector rallied prior to the Presidential Election, but not MYHI. Shares had a Christmas rally that took shares from a few pennies to .90 cents by late January. It was an odd delay attributed mostly to marketing, branding and a lack of visibility in general.
This can happen in these new markets, where investors run in packs looking for new stocks that did not move with the crowd. A look at the chart below shows the late January move in prices.
Mountain High Acquisitions Corp (OTCMKTS:MYHI) recent press pinpoints an agreement with D9 Manufacturing, Inc., an Arizona based company that offers a wide variety of engineering, manufacturing and consulting services to the cannabis sector. MYHI has engaged D9 to assist in the identification, acquisition, and development of infrastructure and technology opportunities in the burgeoning cannabis market.
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“To date we have primarily focused on businesses within the hemp and CBD nutraceutical space. However, this agreement with D9 will allow us to take advantage of opportunities in the broader cannabis space,” said MYHI CEO Alan Smith. “We see tremendous potential for growth as we expand to serve as a turnkey, cutting-edge infrastructure provider to licensed cannabis growers, processors and producers in regulated markets.”
In addition to assisting in the design, permitting, development and operation of scalable infrastructure, MYHI plans to help licensed operators leverage scientific and technological innovations specifically geared to optimize the cultivation and processing of cannabis.
Ferrel Raskin, CEO of D9 Manufacturing, Inc. added, “We look forward to bringing our expertise and connections to this relationship with MYHI. From real estate development to cultivation, extraction and manufacturing technologies, we have built a strong, well-rounded team that has been actively serving the expanding cannabis industry. We see a lot of new opportunities in this space every day—especially on the science and technology front. MYHI and its management team bring additional business acumen and an excellent financing vehicle to fuel these opportunities and bring them to fruition.”
The company is also pushing the think tank path for financing as stated by Alan Smith, President and CEO of MYHI. They recently announced the ‘Think Tank’ has been assembled to assist MYHI in a comprehensive restructuring through development of new strategic business and bridge financing plans.
Led by Mr. William Yuan, former president and chairman of the Global Investment Allocation Committee for Merrill Lynch Asset Management Asia, the Think Tank initially includes five other highly experienced individuals with impeccable business credentials.
It is currently contemplated that these initial members will be joined over time by others with diverse and complementary backgrounds. However, in each case, their willingness to do so will be subject to, among other things, the MYHI receipt of working capital in amounts determined by the Think Tank as necessary for the successful completion of the Think Tank’s tasks and to move the Company forward in accordance with the plans developed as well.
All six of the named individuals have expressed their support for the new technologies with healthcare industry applications, currently under consideration for licensing on an exclusive basis by MYHI as well as further development of marketing initiatives for Greenlife Botanix, a wholly-owned subsidiary. On an interim basis, the present officers and directors intend to work through the Think Tank on the development of a new business plan focused on the healthcare industry.
Mountain High Acquisitions Corp (OTCMKTS:MYHI) has a marketcap of $13.93 million with 58 million shares out and a 31 million share float. They have been a different animal in the sector with a delayed start, but smart entrepreneurs recognize momentum in burgeoning sectors. Management at MYHI is positioning the company (and shareholders) for the long haul. We will be watching how they navigate these new sector waters in cannabis. For continuing coverage on shares of $MYHI stock, as well as other breakout stock, sign up for our free newsletter today and get our next hot stock pick!