Pervasip Corp (OTCMKTS:PVSP) strongly headed up during the previous trading session as the company concluded the execution and closing of agreements to buy 100% of the outstanding equity of Plaid Canary Corporation. The company briefed that Plaid Canary is a special purpose company, which is formed to buy, develop and support companies and technologies in emerging agricultural markets.
Pervasip Corp (OTCMKTS:PVSP) noted that Plaid Canary’s portfolio comprise of a 60% stake in Grow Big Supply LLC, which is a retail distribution company founded in 2011. Grow Big services the hydroponic and indoor grow facility market in Denver, Colorado. Over the last few years, Grow Big has set itself as a chief partner and supplier to the hydroponic grower community.
Grow Big’s knowledge and hold in the industry helped its sales exceed $5 million a year. Despite being a successful venture, Grow Big has maintained its focus on growth while its team and experienced leadership continues to steer it towards a better prospect.
Plethora of opportunities
As Pervasip Corp (OTCMKTS:PVSP) completed the acquisition of Plaid Canary, its CEO Paul Riss reiterated that they see abundant growth and opportunities in the market. He said that the company intends to get leverage from Grow Big’s reach and aim to mimic its Denver success in other regional markets. Riss added that they have already started working towards their goal. To this end, the company has picked up certain acquisition and joint venture targets and aimed to create a portfolio of technologies. Such technologies may include oil extraction, sterilization, growth as well as other such techniques that help augment value and yield.
Pervasip Corp (OTCMKTS:PVSP) assured the shareholders that they will continue to provide a report and information on the new developments and progress. The stock of the company zoomed by more than 27% to $0.00210 as 64.23 million shares changed hands.