Mediatechnics Corporation (OTCMKTS:MEDT) Prepares To Enter Market For CBD Based Hemp Products
Mediatechnics Corporation (OTCMKTS:MEDT) has signed a Letter of Intent, with Vaxa Industries, from Denver, Colorado, which would allow it to market CBD based hemp products, on wholesale rates. As per the agreement, Vaxa would be responsible for supplying the company with highly pure CBD isolates, at approximately a third of the average wholesale price. As such, MEDT would be able to price its CBD products at rates which are significantly lower than the competitors.
Vaxa has stated that it feels perfectly capable of supplying over 100kg of the products, per month, while MEDT believes that the market can easily support over 1,000kg, for the same period. In its press release, the company noted that the 2,8000 retail dispensaries, of its recently spun-off subsidiary, BlazeNow Inc, would play an important role in capitalizing on this endeavor.
It should be noted here that CBD isolates go for as much as $50,000 per kg, due to lack of availability. Added to this, the market for CBD based products is considered to be over $65 million. Furthermore, MEDT also retains the services of several consultants, who are operating a number of successful dispensaries, as well as a successful extractions company, The Bloom Brand. The press release from Mediatechnics also cited that it was working towards acquiring management contracts, for legal marijuana dispensaries, in Nevada and Arizona.
Earlier, Mediatechnics had announced that BlazeNow has reached a mutual agreement with Amercanex. The company noted that the agreement would allow BlazeNow to provide dispensaries, members and manufacturers with cannabis services and technology. Americanex serves as an electronic marketplace for cannabis cultivators, distributors and vendors. Jeremy Carr, the CEO of MEDT, expressed his excitement at the agreement and stated that they would work towards providing superior resources and customer services to businesses and consumers alike.
Mediatechnics Corporation (OTCMKTS:MEDT) closed at a share price of $0.0003, after having lost 25% of its share value, during the September 29 trading session, on a trade volume of 6.61 million.© Copyright 2016 OTC News Magazine. All rights reserved.