NOHO Inc (OTCMKTS:DRNK) has announced the signing of a letter of intent with Miracle Smoke Inc. As per the agreement, the two companies aim to work together towards development, distribution and marketing of CBD beverages. However, the agreement is still subject to both companies completing their due diligence, by June 30, to execute a definite agreement.
NOHO represents itself as one of the premium lifestyle beverage brands. The company’s two recent products, “The Hangover Defense” and “Premium LifeStyle Beverage”, have already made their impact on the market and are considered as category leaders. NOHO aims to carry this attitude of success towards the development of the new CBD beverages and hope it turns out as good as the Hangover Defense shot. Currently, the latter is the top selling hangover prevention shot in the market. The shot has been proven to protect the body from the adverse effects of alcohol.
The CEO at NOHO Inc, Jay Grdina, revealed that his company has been assessing the CBD market for quite a while and they believe it to be one with great potential. He also hoped that the company can target fragmented spaces in the CBD market with the help of Miracle Smoke Inc. Additionally, he also made public the plans to bring a CBD pain relieving beverage to the market, as the first CBD product from NOHO. He went on to confirm that it was the superior marketing and internet sales structure of miracle smoke that attracted NOHO for the deal.
Unfortunately, being an OTC company with less than 300 shareholders owning its stock, DRNK has been set free of its filing obligations. This has been a cause for great alarm for analysts and investors. The company has a lot to offer and has a number of products already in the market or under development, but without proper financial data it has become quite risky to invest in NOHO.
NOHO Inc (OTCMKTS:DRNK) saw a total of 19.37 million shares change hands on June 5, to record a close at $0.0027 and a gain of 12.50%.