Agrios Global Holdings (CSE:AGRO) (OTCQB:AGGHF) is the latest marijuana stock to list on the American OTC markets. The company started trading on Thursday under the symbol “AGGHF,” closing at $0.36. This announcement comes only three short months after the company first listed on the Canadian Securities Exchange.
"Trading on the OTCQB is an excellent extension to our current business expansion efforts in the United States,” Chris Kennedy, CEO and President of Agrios Global, said on Thursday. “The posting of our shares on the OTCQB...should provide additional liquidity for Agrios, and allows U.S. investors to more easily invest in this exciting market.”
Although based in Vancouver, the pot stock remains focused on expansion into the United States. Their first efforts manifested in November when Agrios leased one of their facilities in Washington state to an unnamed Tier 3 cannabis LP. The lease includes not only the facility but also the cultivation equipment, consulting and management services, and biomonitoring.
Agrios Global may be an ag-tech company that specializes in aeroponic cultivation, but they offer a wide array of other agricultural and financial services for the cannabis sector. The company invests in real estate dedicated to the industry, and the facilities that they construct on these properties are all networked with sensor technology. This enables them to collect data on the cannabis plants and offer consultation in real time.
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But investors should note that Agrios Global is more than just a tech company. Their high-tech facilities and equipment may provide them with a modern edge, but their consultation services will be what makes them stand out among the competition. Not only does Agrios provide agricultural consultation, but they also provide financial and administrative consults, noting that “cannabis entrepreneurs do not have access to the capital required to build infrastructure.”
Using their technology to do more than grow marijuana is something that speaks to the evolution of this industry. As cannabis and hemp are beleaguered by the United States legal system, companies willing to support one another - whether it be financially or otherwise - will be what strengthens the industry, at least until the government catches up with the times. In the meantime, Agrios is recognizing a need and offering their services to American companies.
Agrios continues U.S. expansion into Missouri medical marijuana market
The pot stock will be building a consulting business in Missouri to help the newly legalized state prepare the impending licensing applications. Missouri recently legalized cannabis for medical use in November 2018, but cannabis remains federally illegal, thus limiting Missouri companies from procuring funding or even accessing information. Agrios’ goal is to help these companies understand the legal changes, the fees, and taxes involved, and the endless regulations.
“Potential cultivation, manufacturing and dispensary license applicants will require the guidance of someone with a clear understanding of the regulatory environment under which marijuana can be cultivated in Missouri,” Agrios’ Director Larry Ellison clarified in the January press release. “Agrios will offer services to assist clients with license applications and can offer those who obtain licenses further advisory and consulting services in areas such as dispensary operations, agriculture technology, and agronomy services for improving crop quality.”
Stepping in where there is a need will provide Agrios with a significant financial boost, given that many other technology companies are not offering consultations unique to the cannabis sector. But these consultations could prove to be worth more than dollars and cents. As the industry evolves and the United States continues to lag legally, advice and consultations from experienced companies in the industry could be the saving grace.