American Diversified Holdings Corp. (OTC Pink: ADHC) currently has two operating businesses: consulting services to public and private companies and CBD/hemp. Shares of the holding company jumped 40% during trading on Monday, April 15, 2019. Over the past month, ADHC has seen average daily volume of 2.32 million shares. However, volume of 7.82 million shares or dollar volume of $27,370, exchanged hands during trading on Monday.
Shares of ADHC jumped on Monday, after the company announced that it has formed a joint venture with Hi-Tunes Distribution. The JV will look to “launch a flagship cannabis/music culture retail store in Las Vegas, NV. The Las Vegas store is a twist of CBD/Hemp retail store combined with a performance stage and VIP area that will feature live celebrity guests,” according to the ADHC release. The planned Las Vegas store is estimated to open in July 2019. Hi-Tunes Distribution is tasked with creating 40,000 CBD vape cartridge packs, which will focus and support musicians. ADHC says that that the JV plans to utilize Oregon hemp biomass for its vape cartridges. Here is the full press release detailing of the CBD joint venture:
ADHC Press Release:
DEL MAR, CA / ACCESSWIRE / April 15, 2019 / American Diversified Holdings Corporation (OTC PINK: ADHC) announced that ADHC has established a joint venture partnership to launch a flagship Cannabis / Music culture retail store in Las Vegas, NV. The Las Vegas store is a twist on CBD/HEMP retail store combined with a performance stage and VIP area that will feature live celebrity guests. The store is set to open in July 2019. More information will follow soon.
ADHC has partnered with Hi-Tunes Distribution, Arlington, Wa. https://www.hi-tunes.com/ to provide services to help launch a celebrity line of CBD/Hemp products to be sold at a Las Vegas retail store. Hi-Tunes Distribution is slated to create 40,000 CBD Vape cartridge packages. The packages will be produced to highlight and support musicians. The cartridge packaging will utilize state of the art virtual and augmented reality to distribute new music and videos directly into the hands of the consumer.
ADHC has secured various joint venture contracts to convert a high quality CBD/hemp Biomass into vape cartridges to be packaged by Hi-tunes Distribution. All biomass will be sourced directly from Oregon state farms. The biomass will be processed into high grade full spectrum CBD/Hemp Extractd. All products that will grown and produced by licensed ODA (Oregon Department of Agriculture) approved farms and facilities. All CBD/Hemp products shall be grown, processed and produced in accordance with federally established guidelines of the 2018 Farm Bill.
This press release contains forward-looking statements pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the Company’s plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. Common stock currently trades on the over-the-counter under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of ADHC, and no reference has been made that this release contains all information.
Source: SpotLight Growth Canabis
American Diversified Holdings Corp. (OTC Pink: ADHC) Jumps 40% After Forming CBD/Hemp Joint Venture With Hi-Tunes Distribution
SpotLight Growth Canabis