Stony Hill Corp. (OTCQB: STNY), a diversified company focused on the cannabis industry, today announced that it has made a strategic investment in Cannabi-Tech Ltd. (Cannabi-Tech), a pioneering provider of lab-grade medical cannabis quality control testing systems based in Israel.
Stony Hill, founded by Damian Marley, acquired the stake in Cannabi-Tech as part of a larger effort to build a global platform and brand for Cannabi-Tech. The investment signals an important vote of confidence in Cannabi-Tech’s management and innovative cannabis testing technology.
Cannabi-Tech’s proprietary technology features cutting-edge optical and image processing tools for precise quality control testing of medical marijuana flowers. The technology includes access to an integrated cloud database, traceable packaging, sorting and labeling mechanisms and smartphone applications. Using Cannabi-Tech’s technology, people will know for the first time exactly what they are paying for and what they are using in terms of potency.
Chris Bridges, President of Stony Hill stated, “As Stony Hill continues to expand into multiple segments of the cannabis industry, this investment fits very nicely into our strategy to expand Stony Hill’s testing and analytics presence and platform of products. This investment represents another step toward building our company into a leading platform in the cannabis industry.”
Guy Setton, CEO of Cannabi-Tech, stated “We are extremely pleased with Stony Hill’s decision to invest in our company and we welcome Stony Hill and Damian Marley as long-term investors and strategic partners. Stony Hill has a broad portfolio of products and assets which we believe will make it a strong partner and ally. Our innovative testing equipment is setting a new industry standard, starting with potency testing, and we look forward to expanding the market presence of our brand through this partnership. We believe this mutually beneficial relationship will yield new opportunities for both our companies.”
About Stony Hill Corp.
Stony Hill Corp. (www.stonyhillcorp.com), founded by Damian Marley, is a diversified company focused on multiples areas of the cannabis, hemp and CBD industry. The Company is focused on select investment, branding, real estate, and partnership opportunities in the recreational, health and wellness, nutraceutical, and media industries.
Stony Hill has several strategic partnerships currently in place and is actively pursuing additional partnerships and other strategic growth opportunities.
About High Cannabi-Tech
Cannabi-Tech is developing the world’s first accurate, affordable and easy-to-use device, for the non-destructive detection, analysis and automated sorting of individual medical cannabis flowers. The Company’s proprietary technology combines Near Infra-Red (NIR) spectrometry and imaging tools to provide a sensitive method to detect and quantify the active compounds of the cannabis plant and a unique spectral fingerprint for each flower. The addition of a sorter will enable automated sorting of cannabis flowers by pre-set criteria suitable for mass production. An optional attachable label generator and automated packaging unit will pack flowers individually ensuring full composition and potency traceability and tracking for each and every flower from farmer to patient.
Now check out the Israeli pharma company that just listed on the NASDAQ