Monarch America Inc (OTCMKTS:BTFL) was a massive mover during Tuesday’s trading session. The stock surged by close to 162% on the back of high volumes, which were 18 times the daily average. The stock has been in a downtrend and seems to have formed a strong bottom near levels of $0.0024. The stock has witnessed strong buying interest over the last two trading sessions. The index for relative strength has given a buy signal, which is a huge positive. The stock currently trades below all daily moving averages. Traders see the stock heading to levels of $0.0125 in the near term.
Monarch America Inc (OTCMKTS:BTFL) has signed a letter of intent with Hawaii-based Malama Wellness to carry forward the marijuana cultivation facility project in Hawaii. Malama Wellness is known for developing planned marijuana business in Hawaii.
Insights of The Matter
The LOI clarifies that both the parties have agreed to enter into a definitive consulting agreement, which will allow Monarch America to look after all the aspects of marijuana related operations in Hawaii market. Its responsibilities will include technology development, property management, staffing, inventory control, and day-to-day operational management.
The senior management team of Monarch America is delighted to announce this update and hopes that this step will take the company to all new heights in the coming times.
According to Eric Hagen, Chief Executive Officer, Monarch America, it’s a step forward towards the ultimate goal of Monarch America of expanding its marijuana advisory and consulting business in different states of Hawaii. The entire management team of Monarch America looks forward to assisting Malama Wellness in operating and designing their world-class marijuana facility in Hawaii.
Malama Wellness is equally delighted to partner with Monarch America and considers it one of the best decisions taken by the management team in the recent past.
According to Tak-Sang Cheng, Managing Partner, Malama Wellness, the decision of partnering with Monarch America to design and operate the new marijuana facility in Honolulu, Hawaii has its own perks. They have hands on industry knowledge and years of experience in this sector, which will give Malama Wellness a chance to leverage out their expertise in the coming months.
Cheng further added that this decision would surely help Malama Wellness in developing a world-class marijuana focused business in Hawaii in a cost-effective and hassle-free manner. He looks forward to a long-term association with the company and hopes that Monarch America will live up to everyone’s expectations.