Rodedawg International Industries Inc (OTCMKTS:RWGI) Stock Surges After Acquisition News
Rodedawg International Industries Inc (OTCMKTS:RWGI), a company providing management services, restructuring resources, and acquisitions throughout the regulated California cannabis market, on May 11, 2023, announced expansion into the healthcare industry through the purchase of Elixicure Pain Relief.
Trading Data
On Thursday, RWGI stock increased 22.09% to $0.0287 with more than 30.10K shares traded, compared to volume of 23.61K shares. The stock moved within a range of $0.0287 – 0.0287 after opening trading at $0.0287.
Rodedawg International Industries Inc. (OTC:RWGI) Expands into Healthcare with Acquisition of Elixicure™ Pain Relief
Chris Swartz, CEO of Rodedawg said that he is proud of announcing to shareholders on the acquisition. Swartz added that the company’s shareholders are gaining from the vision of 6 years of healthcare marketing experience. He added that the Elixicure team raised over three million dollars and the acquisition gives physical production equipment as well as research, finalized formulas, branding, packaging,brand awareness, and established revenue-producing sales channels.
The company expanded much in its first few years and generated about a million in revenues in less than 3 years of its inception. Rodedawg personnel will be added to the management team and the firm anticipates generating more than three million in the first year as a Rodedawg company. It will also give Rodedawg entrance into the multi-billion-dollar pain relief market.
Chris Swartz also said that the global topical pain relief market size was estimated at $8.8 billion in 2019. It is projected to reach $12.2 billion by 2027 at a CAGR of 5.2% from 2020 to 2027.
The acquisition positions the firm to expand into services and products generating revenue streams back to the Rodedawg enterprise. It will also enable the firm to develop channels of distribution with sales and marketing of products in mainstream national markets. The company will inform the shareholders of its marketing plan for Elixicure as well as other healthcare products.
