Chemistree Technology, Inc.
We are circling back to revisit CHMJF this morning, a stock that we recently profiled operating in the cannabis space. Our regular followers are certainly aware of our predisposition toward the industry, as a thriving, relatively new market space that is setting up to flourish well into the future.
The company is actively pursuing the development of vertically integrated cannabis assets in multiple states, including the design and build-out of tens of thousands of square feet of greenhouse and processing facility space. The company has interests in both the retail and medical sectors, and in both flower and by-product form (e.g. CBD/Hemp Extract).
We previously commented on the incredible past year the company’s had in terms of executing its strategy of acquiring and developing assets in various areas of the cannabis business. That’s one of the primary draws for us in this case. at the end of last month, CHMJF management laid out what we can expect from the company in the next year.
First off, CHMJF plans to continue to seek out new opportunities in the Western United States, in addition to its Sugarleaf cannabis brand in Washington and prospective grow/processing operation in marijuana ‘hot zone’, Desert Hot Springs, California. It will also optimize the Sugarleaf operation through expansion of its existing facilities, slated for completion in August of this year. In terms of the California project, we’re looking at a slightly longer timetable, with the first greenhouse tentatively scheduled to go up in the 1st quarter of 2020.
We’re very interested to continue tracking the multiple irons the company has in the fire, but for the time being, we are also very interested in the technical setup of the chart.
The early spring brought solid moves for CHMJF stock, as it traded up from a low of .3145 in March, to as much as .597 in April. After a period of consolidation, the stock recently saw a low of .313, and has begun to show signs of another leg-up. After seeing that 90% move previously, we are very interested to see if CHMJF can mount another run of a similar or perhaps even more significant nature.
We encourage readers to launch their own due diligence into CHMJF, and also check out the following video presentation of the current CHMJF chart.
FRESH CHMJF NEWS:
VANCOUVER, June 10, 2019 /PRNewswire/ – Chemistree Technology Inc. (CSE: CHM) (US OTCQB: CHMJF) (the “Company” or “Chemistree”), is pleased to announce that its partner Applied Cannabis Sciences of New Jersey (“ACS”), is readying an Application under the new Request for Applications (RFA) program announced by the Department of Health on June 3, 2019. In total, the Department will seek up to 24 cultivation endorsements, up to 30 manufacturing endorsements, and up to 54 dispensary endorsements. As allowable, ACS will be applying for all three permit types, creating a vertically integrated model for the business. (>>Read Full PR)
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