Green Globe International Inc. (OTC:GGII) Stock In Focus After Joint Venture
This morning, it is likely that investors are going to be looking closely into those companies that may have made key announcements yesterday. One such company was Green Globe International Inc. (OTC:GGII). The company announced yesterday that it had entered into a joint venture agreement with the firm Vortex WBP (Well-Being Products).
As per the provisions of the joint venture agreement, the two would work on the production, promotion, and distribution of hemp powder in the United States, Mexico, and Canada exclusively under Fairy Dust Inc. The patented hemp powder milling technology from Vortex WBP would be leveraged by Fairy Dust for the development of the product. Additionally, Fair Dust would also leverage the technology for the development of beverages, food, cosmetics, and well-being-related consumer goods.
“This partnership brings together the expertise of both companies to create the finest hemp powder made from fresh hemp. Our aim? To revolutionize the world of innovative food, beverages, cosmetics, and well-being products,” said Sandro Piancone, CEO of GGII. “With our commitment to quality and cutting-edge technology, Fairy Dust, Inc. is set to redefine what’s possible in the hemp industry. Stay tuned for more updates on this exciting partnership!”
It could be a good idea for investors to consider taking a closer look at some of the highlights of the joint venture agreement. The deal would bring the skills of both Vortex WBP and Green Globe International together in a single venture. The patented technology from Vortex could be deployed to make a wide variety of products. The manufacturing of the products under the joint venture would take place at an NSF-certified facility located in San Diego, California. Additionally, options for both private labeling and white labeling were available.
Green Globe International and Vortex formed the new Nevada-registered corporation Fairy Dust Inc. as a joint venture. Each company owned 50% of the joint venture, as per the news release yesterday. While Vortex would contribute to the joint venture with its technology, Green Globe International’s portfolio companies, Green Star Labs Inc. and Hempacco Co. Inc., would make contributions to the joint venture. The two portfolio companies would provide research and development services in addition to packaging and manufacturing the end product. It may be a good time to keep an eye on Green Globe International stock.
