Health Advance Inc. (OTC:HADV) Stock In Focus After Advancing Partners with New U.S. Cannabis Initiative
There were a number of companies that had been in the news cycle yesterday, and some of those may come onto the radars of investors today. One such company could well be Health Advance Inc. (OTC:HADV), considering the fact that the company made a significant announcement about a new strategic partnership.
Calvin Fyre Partnership
The company announced yesterday that it was on the verge of getting into a strategic partnership with Calvin Fyre, a cannabis entrepreneur and innovator based out of California.
The partnership was going to go into effect immediately, Health Advance stated at the time. Through this partnership, Fyre’s innovative plan to raise profits of social equity cannabis license holders by way of a unique financing and mentoring program would be further advanced. In the news release, it was noted that the project had been named SoEquity.
New Entity
Additionally, it was also noted that a new entity would be created under the provisions of Tier 2 Regulation A+ for $75 million. The entity in question would be specifically related to the program in question. Fyres Group would control that entity; however, the benefits would also accrue to Health Advance for the purpose of professional collaboration.
Management Quote
Health Advance president, Larry McLachlin, comments, We are honored to collaborate with a person of Calvin Fryes stature. He is an admirable figure. His expertise in this industry is a perfect fit with Calvin’s sharp business instincts. This creates unique action potential for mutual gain. Health Advance is making this development public now to ensure fair disclosure. During our collaboration with SoEquity, news may leak. We’d like our shareholders and others to be on an equal footing, knowing about this important and positive development as it is occurring. I would like to emphasize that these arrangements, and the benefits to flow to Health Advance, do not require the issuance of Health Advance common stock and do not require net expenditures by Health Advance.
