Supurva Healthcare Group, Inc. (OTCMKTS:SPRV) Commits To New Team And New Industry
Giorgio Johnson, the new President and interim CEO of Supurva Healthcare Group, Inc. (OTCMKTS:SPRV) announced the board’s approval of the firm redefining its business plan for FY2017 and beyond. The firm will be divesting its stakes in onsite health care and progressing on the acquisition and advancement of Medical Cannabis Dispensaries and other linked industry ventures, comprising cultivation, packaging and processing of offerings being distributed via the Canadian and U.S. Medicinal Cannabis markets. They look forward to implementing on their business model.
There are presently 37,400 medicinal pot users identified by Health Canada, but executives anticipate that number will grow more than 10-fold, to almost 450,000 users, by 2024.The profit prospect is immense. A gram of dried pot bud on the street sells for almost $10 and Health Canada estimates the legal cannabis will average around $7.60 next year, as manufacturers set prices without intervention from government.
Revenues for the growing new industry are anticipated to hit $1.3 billion annually by 2024, per federal estimates. Operators would be favorably placed were cannabis ever approved for recreational use, as seen in numerous American states. Supurva considers this is a planned expansion into the Medicinal Cannabis markets.
The management stated that they are extremely excited about the prospects for revenue opportunities folding unfolding for them in rapidly surging Medicinal Cannabis industry. They are presently in negotiations with a key Canadian brand on the procurement of a preliminary retail dispensary, which will generate revenue 2 months after closing. Further details, comprising closing dates, on the deal will be unveiled in the coming weeks.
Supurva, which is a Delaware Corporation, is active in the healthcare market of California. In the last trading session, the stock price of Supurva traded in a narrow range and closed flat at $0.00020. The traded share volume was 1.77 billion compared to average share volume of 21.82 million.© Copyright 2016 OTC News Magazine. All rights reserved.