SUTIMCo International Inc (OTCMKTS:SUTI) has been making a lot of news lately, with its new CEO and updated structure and expansion plans. Mr. Jorge Luis Saenz has been appointed the new CEO of SUTIMCo. His impressive resume of being in the marijuana industry and being a shareholder in the company led to his appointment. Additionally, the company is also expanding its market, with a series of deals and acquisitions. The company’s first signing is a marijuana dispensary in Portland. Currently, the two parties are working on a LOI to develop a working partnership.
SUTIMCo stated this to be the first in a series of partnerships and acquisitions with established marijuana companies in the market. The new CEO also stated that a presence in the northwest would give the company a geographical advantage. It could cater to the needs of two states in the region, where marijuana is legal. Mr. Saenz appointment has also been made strategically, given that he is the co-owner of Vaping Dragon Industries. This company is also located in the northwest region and SUTIMCo would be hoping to grab it as a partner too.
Mr. Saenz and other co-owners of Vape Dragon, aim to provide natural medications to consumers, who do not prefer the use of chemically manufactured ones. However, to do so he would require a large number of companies spread throughout the country. He plans to do this through a series of acquisitions. Who knows, may be SUTIMCo is the next on his list or vice versa. The expansion would also require services of known distributors that are already catering to the market. If these two companies concentrate on an area each, they can get the job done more quickly and efficiently, while both stay under the leadership of Mr. Saenz.
SUTIMCo International Inc (OTCMKTS:SUTI) traded a total of 489.44 million shares during the June 19 session to reach a close of $0.0003, without reporting a change in the share price.