This morning, HempTech Corp. (OTC:HTCO) announced that the company is changing its name to Nuvus Corp. This change is intended to reflect the company's expanding business model to provide innovative products and services to the agricultural industry as a whole rather than just cannabis.
HempTech's CEO, Sam Talari had this to say about the name change and the company's expanded horizons:
"The new name -- Nuvus Corp -- allows us to emphasize our wide-ranging business objective around agricultural industry as a whole and changing the way medical marijuana is grown by growers/cultivators for patients, with the goal of increasing purity, efficiency, lowering costs and improving quality. As a company with its roots in automation technologies and energy management systems, we are committed to delivering breakthrough products and services that will help connect all the points in the care continuum for the agricultural industry and medical marijuana patients globally."
The company is also in the very early stages of exploring expansion into Canada. Additionally, the company is looking into building out growing facilities in U.S. states with medical marijuana programs and leasing them to licensed marijuana producers.
HempTech will initiate the name change after filing its annual report due on July 31, 2017. Following the name change, HempTech will continue to operate as Nuvus' business unit that caters primarily to the hemp industry.
Learn more about HempTech by visiting the company's marijuana stock profile in The Daily Marijuana Observer's Marijuana AgTech stock database.
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