Biotech Co. Branded Legacy Takes Major Step In CBD Market With New Acquisition
Portfolio Pulse from Jelena Martinovic
Branded Legacy, Inc. (OTC.PK: BLEG) has acquired MariJ Pharmaceuticals, Inc., a Florida-based company specializing in organic mobile extraction and production of CBD from industrial hemp. The acquisition includes physical assets, intellectual property, and operational tools, aiming to enhance Branded Legacy's product range, production capabilities, and market presence. Following the announcement, BLEG shares rose 12.94% to $0.0035 per share.
December 05, 2023 | 2:33 pm
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POSITIVE IMPACT
Branded Legacy's acquisition of MariJ Pharmaceuticals is expected to enhance its asset base, intellectual property, and production capabilities in the CBD market. The company's stock price increased by 12.94% to $0.0035 after the announcement.
The acquisition of MariJ Pharmaceuticals by Branded Legacy is directly related to BLEG's core business and is expected to have a positive impact on the company's growth and market position. The immediate rise in stock price following the announcement indicates a positive market reaction, suggesting a likely short-term upward trend in BLEG's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100