TOTALLY HEMP CRAZY (OTCMKTS:THCZ) reported that Dion Lion SaumaBaan Distributors Ltd. Of India has been finalized as the Authorized Distributor firm of Rocky Mountain High Drinks for the many countries including India, Pakistan, Sri Lanka, Bangladesh, Myanmar and Nepal. As a part of the first product order shipment, the company have sent samples of Rocky Mountain high beverages to an authorized Government Lab facility in India. The company will submit an application with the FSSAI for approval.
The scope
Totally Hemp intends to expand its products base in South Asia which is home to more than one-fifth of the total world’s population. It is most populous as well as densely populated geographical area in the world. In South Asia region, India is the fastest and largest growing major economy and makes up nearly 82% of the total South Asian economy. In nominal terms, it is the ninth largest nation in world and the third largest in terms of ‘purchasing power’ adjusted exchange rates.
The management view
Jerry Grisaffi, the Founder said that Hemp has a long history going back to the 1600s for extensive recreational, medical and religious uses in India. Therefore, India is considered as a huge potential market for the Rocky Mountain High Hemp beverages. Totally Hemp have been working meticulously for the past few months with SaumaBaan Distributors and their management team based in the U.S. to finalize this deal.
The significance
Arvind Sharma, the CEO and President of SaumaBaan, said that this valuable association with Totally Hemp is very timely, since the existing Energy Beverages market in India is rapidly surging at the rate of 20% to 25% per year.
In last trading session, the stock price of Totally Hemp gained 0.94% to close the trading session at $0.130.The gains came at a share volume of 1.53 million compared to average share volume of 4.58 million.
