Over the course of the past week, Green Globe International Inc (OTCMKTS:GGII) has seen its stock make considerable gains and it is likely that the stock is going to come into focus among many investors in the coming days.
During the past week, the Green Globe International has managed to clock gains of as much as 900%. In light of these gains made by the company, it might be a good idea for investors to take a look at a major announcement made by the company earlier on in the week.
On April 27 Green Globe International announced that the control of the company has passed on to The Hempacco Co Inc following the private sale of 100 Series A Preferred Shares. The sale of those preferred shares had been completed on March 22, 2021. A new board has been appointed which is going to work under the Chief Executive Officer of Hempacco, Sandro Piancone.
However, that is not all. The company has also made an application to the OTC Markets Group Inc so that it can get into the disclosure systems in order to submit missing reports. The company would also file more information with regards to the new ownership at the company with the OTC Markets Group.
As per the press release from Green Globe International, the entire process may take anything between three weeks to four weeks.
In this regard, it should be noted that Hempacco is aiming to disrupt the tobacco industry in a big way. The company is involved in products like herb, CBD, and hemp cigarettes among others. After the procedures with the OTC Markets Group are completed, Green Globe International is looking to have a merger with Hempacco. While it is true that the company hopes for a merger, no agreement to that effect has yet been signed and there is no guarantee that it is going to happen.
The centralized cannabis marketplace company, which entered into hemp farming in 2018, provided an update to its shareholders back in March as well. One of the highlights from the series of updates provided by Green Globe International was the one related to its commitment to strengthening its operations.
Green Globe International revealed that it is building its team in a round manner starting from sales and then on to the capital, website development, and social media presence. In addition to that, the company also stated that it has only brought in people with knowledge and passion about the business to its advisory board.
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