Turner Venture Group (OTCMKTS:TVOG) Stock In Focus After Recent Development
Turner Venture Group (OTCMKTS:TVOG) is a public Venture Holding Company acquiring equity interests in companies and innovative brands focusing on sustainability and healthier living. The firm is focusing on creating shareholder value through opportunities in hemp & CBD, food & beverage, personal care, household products, and consumer health technology with applications in NFT and blockchain. The firm’s first acquisition of Bloomi Labs, LLC includes novel CBD Hand Sanitizer products manufactured domestically.
Market Stats
On Tuesday, TVOG stock ended flat at $0.0100 with 10K shares, compared to its average volume of 38K shares. The stock moved within a range of $0.0100 – 0.0100 after opening trading at $0.0100.
Turner Venture Group Announces Appointment of Chief Operating Officer and Closing of Herban Healing, LLC
Turner Valley Oil and Gas on May 26, 2022, announced the appointment of Kyle Williams as the Chief Operating Officer effective immediately.
In April, Turner confirmed entering into an acquisition agreement with Herban Healing LLC. Williams joins the leadership as part of the acquisition of Herban, a privately-owned, fully integrated CBD company in Houston, Texas.
Williams will lead the firm’s expanding fresh business efforts as the company will expand Herbanand look at additional acquisitions and investment targets.
Williams has much experience in each facet of the hemp industry from fundraising to operations as well as government affairs. Furthermore, he has tremendous experience and knowledge in the legal cannabis industry.
Turner Venture Group Announces Expanded Distribution of BloomiClean(TM) through Herban Healing’s Retail Stores
Turner Valley Oil and Gas Inc on May 11, 2022, announced that Turner Venture Group Inc is working with the portfolio company Herban Healing LLC for distributing Bloomi Labs’ flagship CBD hand sanitizer product BloomiClean through Herban’s retail locations in Greater Houston Texas area.
An initial order for BloomiClean has been placed by Herban but would be distributed to the flagship retail stores starting in May and expand to 2 more locations. Herban Healing represents Turner Venture Group 2nd acquisition within the hemp and wellness segment after the acquisition of Bloomi Labs LLC in 2021.
Bloomi Labs LLC is a proprietary CBD product development firm with a flagship product called BloomiClean, an ethyl-based hand sanitizer having aloe vera, CBD and vitamin E. BloomiClean is made by harnessing organic products, with CBD from an Illinois hemp farm. This is THC-free and produced in FDA qualified facility.
Dr. Jordan Balencic, Chairman and CEO of Turner Venture Group said that the company is glad to report strategy and execution continue to gain ground. The CEO added that gaining distribution of Bloomi Labs’ products through Herban’s brick-and-mortar retail stores was a logical step.
Balencic added that collaborating with Herban Healing for expansion is just one component for unlocking growth for Turner shareholders in 2022-2023. Furthermore, he said that the collaborative strategy planning with Herban Healing Turner’s management team has been structured for a successful turnaround. The CEO also said that there will be higher revenue capture in 2022 and beyond. Lastly, the firm is augmenting the fundamental structure for continuing a higher shareholder value through more revenues as well as asset capture year-over-year.
Traders Corner
TVOG stock is trading below the 50-Day and 200-Day Moving averages of $0.0103 and $0.0103 respectively. However, the stock is trading above the 20-Day moving average of $0.0085.
