Business
SPO Networks, Inc. (SPOI) Acquires Its First Recreational Marijuana Dispensary In Trinidad Colorado
SPO Networks, Inc. (SPOI) Acquires Its First Recreational Marijuana Dispensary In Trinidad Colorado.
About this update from Spo Networks, Inc.
[{"type":"text","content":"Completes Its Vertical Marketing Chain - From Seed To Cultivation To Wholesale And Now Direct To Consumer Retail OperationsCompany Is Entering The U.S. Legal Recreational Cannabis Market Which Is Expected To Reach $42 Billion By 2026FARMINGTON, AR / ACCESSWIRE / July 14, 2021 / SPO Networks, Inc. (OTC PINK:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today announced that it has acquired its first recreational marijuana dispensary. The acquisition completes the Company's vertical cultivation & marketing chain of operations.The Company already owned cultivation sites and has recently entered into a pre-order agreement to deliver of its proprietary strain of certified cannabis seeds to a chain of 10 third party dispensaries in Colorado. Now the Company will be going Direct To Consumer (DTC) via it first wholly owned retail dispensary, to sell its proprietary brands.Tom Smith, the Company's CEO & Founder, said: "This is an exciting move forward to roll out our "hub and spoke" plan in Colorado. Having our genetic seed operation kicking off and our first dispensary under contract with two more dispensaries, one medical the other recreational in que along with two additional cultivation operations, we are executing our plan on schedule.This acquisition is only our first of more to come as we plan to continue to increase our share of the U.S. legal recreational cannabis market which is expected to reach $42 billion by 2026.[1] Industry reports show that the number of cannabis consumers is… expected to grow in the United States so that by 2025 the country is projected to have close to 50 million cannabis consumers… and we will take all steps to maximize our ability to reach those consumers."He continued: "The acquisition of the dispensary in Trinidad, Colorado, requires us to submit the change of ownership applications to the Colorado Mari...