DNAX - DNA Brands jumps 5% on a joint venture agreement

DNA Brands (OTCPK:DNAX +7.8%) enters an agreement with a partner located in Los Angeles, California to be the majority owner of a newly formed wholly owned subsidiary, Green Thumb Ventures, a Colorado Corp. The purpose of this subsidiary will be to identify and cherry pick distressed assets of value, specifically in the cannabis space. Green Thumb Ventures plans to strategically identify undervalued cannabis projects that are overextended and in need of additional financing but which provide immediate value for an equity investor. Under the terms of the agreement company will finance the acquisition of projects into Green Thumb Ventures. Its partner in Southern California will be led by minority business owner and cannabis veteran, Mr. Rendhel Pierre-Louis.

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DNA Brands jumps 5% on a joint venture agreement