Apr 29, 2014 (ACCESSWIRE via COMTEX) -- Montalvo Spirits Inc. (OTCQB: TQLA) stock volume skyrocketed Apr. 28, with 4,658,034 shares changing hands, more than 64 times its three-month average volume of 72,396 shares.
The tremendous upsurge in volume is being fueled in part by the Moorpark, Calif.-based alcoholic beverage company's announcement that it has established Cannabis Beverage Group Inc.
Cannabis Beverage Group (CBG) is a Colorado corporation and Montalvo Spirit's wholly-owned subsidiary. CBG will pursue the development, marketing, and distribution of cannabis-based beverages, which include sodas, teas, energy drinks, liqueurs, and elixirs. CBG is actively seeking non-THC containing cannabis beverages that can be legally purchased throughout the United States.
Strategy to Develop New Brands
CBG's strategy for entry into the industry includes the development of new brands, as well as the potential acquisition, partnership, or distribution arrangements with brands that are currently in the market. In addition, CBG has begun gathering regulatory information regarding the potential partnership or acquisition of properly licensed companies in the medical marijuana beverage industry, and is currently developing an ecommerce website.
"After careful deliberation, we feel the time is right to begin actively exploring the entry into the cannabis beverage industry, including hemp products in addition to medical marijuana products in states in which it is legal to do so," said Alex Viecco, chief executive officer of Montalvo. "
The company expects to provide periodic updates on any progress in CBG's development, including the upcoming launch of an ecommerce website.
