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Friday, July 21, 2023 10:10:47 AM
Can B Corp. Secures 1.8 Million Pounds of Biomass for Awarded Contract With One Bad Moon Rising
Can B Corp
Thu, July 20, 2023 at 9:00 AM EDT
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CANB
Recommendation Rating
Buy
Can B Corp
Can B Corp
Processing Has Already Started
HICKSVILLE, NY, July 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, is pleased to announce its newly awarded contract with One Bad Moon Rising and purchase of 1.8 million pounds of biomass.
To initially service the contract, Can B purchased 1.8 million pounds of biomass that is ready for immediate processing. The biomass is stored indoors in 1,000-pound supersacks in Ft. Morgan, Colorado (80 miles northeast of Denver).
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are very excited for this new opportunity with One Bad Moon Rising. We were able to purchase the biomass with a market price of $2.7 million by issuing Rule 144 restricted stock in payment of the purchase price. The biomass potency was tested and exceeded minimum processing standards. We look forward to utilizing our fully integrated operations to result in the production of isomers.”
Patrick Barry, Chief Investment Officer of One Bad Moon Rising, stated, “We look forward to working closely with Can B as we are very impressed with their fully integrated vertical operations in Colorado. Their facilities in Ft. Morgan and Mead, Colorado, are now capable and ready to process biomass all the way through to isomers. Our network of relationships is seeking isomers, and we are excited to be able fulfill that demand with our new contract with Can B.”
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