ML Capital Group Inc (OTCMKTS:MLCG) shares popped up 50% on Tuesday to $0.00030 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $401,000 at 1.34 billion shares outstanding.
ML Capital Group Inc is a company that is engaged in the business of providing consulting services to both public and private companies. It primarily focuses on early stage companies, small businesses and emerging growth companies and is producing products and providing services that support the medical marijuana industry. In particular, it produces and markets its products and services under the Superstar Products brand name, including vapor pens, mobile applications and books. The focus of the ML Capital Group Inc is to sell products and services that do not include the growing, manufacture, or distribution of medical marijuana, cannabis, or cannabis byproducts.
In a press release this week, ML Capital Group Inc announced that they will be working together with Puration to introduce Cannabis Tourism to the New York Times. It will initially target Colorado’s $19 billion tourism industry, according to the Denver Post, and additional destinations are in the works. This follows the successful November 8 vote that legalized the use of medical or recreational marijuana in several US states.
This also follows Puration’s $1 million collaboration agreement with Colorado based Spanish Peaks
ScrumpDelicacies and ML Capital Group Inc’s letter of intent to acquire Spanish Peaks ScrumpDelicacies. Spanish Peaks ScrumpDelicacies is a venture backed startup dedicated to building cannabis consumer product production capacity in Colorado. With that, the companies plan to work together on their combined interest in Spanish Peaks and expand the existing Global Cannabis Tour Offering of ML Capital Group Inc. Destinations outside the US, quite possibly in Canada, are in the works.
Puration Inc is a water purification company, formerly known as Southwest Resources Inc. As such, it designs, develops, engineers, produces, markets and distributes personal and group systems that filter, purify, clean or extract water. The company has also developed, acquired and licensed technology in the fields of water filtration and purification and its operations consist of the design and production of personal-use water filter bottles and other containers. Aside from this, the company is in the process of developing new business opportunities focusing on the Cannabis Extractions Sector.
Back in November, Puration entered discussions to open an extraction facility in the State of Oregon where recreational marijuana is legal. This facility would enable Puration Inc to deliver THC for infusion in edibles and beverages in the state. This marked one of the many partnerships that the company has been working on for the past few months, opening up more opportunities to work with ML Capital Group Inc in other states.
Puration is also targeting an initial $1 million in 2017 sales of EVERx CBD infused water, as the bottled water market was valued at US $157.27 billion in 2013 and is expected to reach US $279.65 billion by 2020, according to Transparency Market Research and has partnered with North American Cannabis Holdings to come up with a beverage under the North American Cannabis Holdings EVERx Sports and Fitness Nutritional Supplement Brand Name.
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