ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) has been a laggard in the Green Rush 2.0 phenomenon that has defined the very beating heart of the OTC trading scene over these last six weeks. However, that all changed on Monday, as the stock took flight, helped along by several pieces of recent news late last week. Perhaps the highlight of the bunch was actually the company’s deal with Smallcapvoice.com days earlier, creating a client page devoted to news and information about RMHB.
We say this because the company has become one of the lesser known plays in the cannabis patch at a time when history is being made in the space. The principal asset at such a time is exposure. That said, two other announcements also hit that are more substantive, including increased acreage for industrial hemp production as well as a key distribution agreement with an Austin, Texas-based wholesaler.
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) trumpets itself as a company that develops, manufactures, markets, and distributes hemp-infused food and beverage products.
The company offers hemp-infused beverages, including energy drinks, black tea, and lemonade; hemp-infused edibles, such as energy bars; and hemp-infused energy shots and coffee shots. It is also developing wine based ready-to-drink cocktails; cannabinoid infused beverages; hemp protein bars and hemp chia seed bars; and hemp infused natural spring water.
The company specializes in brand development of health conscious, hemp-infused food and beverage products. The Company currently markets a lineup of four naturally flavored hemp-infused beverages and a low-calorie Coconut Lime Energy drink. Rocky Mountain High Brands also offers hemp-infused 2oz. Mango Energy Shots and Mixed Berry Energy Shots, as well as a new Relaxation Brownie. The Company recently launched a naturally high alkaline spring water, Eagle Spirit Spring Water.
The company markets its products through brokers, distributors, and retailers. The company was formerly known as Totally Hemp Crazy Inc. and changed its name to Rocky Mountain High Brands, Inc. in October 2015. Rocky Mountain High Brands, Inc. was incorporated in 2000 and is based in Dallas, Texas.
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As for the most recent and most substantive catalyst, the company just entered into a distribution agreement with Dazed Inc./Counterculture Brands of Austin, Texas.
Dazed Inc./Counterculture Brands is a wholesale distributor and retailer of counterculture types of products and offers an impressive lineup of over seventy brands. The retail branch, aptly named Lazydaze Counterculture, has two Austin, Texas locations and two franchise locations in San Antonio, a franchise location in Madison, Ohio and a franchise location in Australia. All locations carry a huge catalog of product offerings.
Hans Enriquez, CEO of Counterculture Brands, said, “Our wholesale operation has very prominent clients such as GAMA (Greater Austin Merchant Associations) serving over 1,000 stores in Austin, Texas and surrounding areas. Other clients such as STMA (South Texas Merchants Associations) serve over 400 members and over 1,000 non-members. We have also partnered with JD’s Distribution of Houston Texas, which has served over 1,000 Smoke, Vape, Alternative shops for more than 20 years. Our established wholesale outlet will help create a strong footprint for Rocky Mountain High Brands in Texas and throughout Dazed Inc./Counterculture Brands network.
Michael Welch, President and CEO of Rocky Mountain High Brands, stated, “Hans Enriquez has developed an amazing wholesale/retail network and has demonstrated that Dazed Inc./Counterculture Brands will be at the forefront of the cannabis legalization movement. We are confident this distribution deal will lead us on our goal to become the premier hemp-infused food and beverage line all across the State of Texas. This is another step toward accomplishing our Company’s vision to create a new market segment focused on hemp and CBD infused food and beverage products in which the Rocky Mountain High Brands will be recognized as both a pioneer and the market leader.”
Earning a current market cap value near $32M, RMHB has a decent store ($102.26k) of cash on the books, alongside total assets just shy of $3.9M, which stands against an appreciable load ($618.23k) of total accumulated debt. We’ve witnessed 49% tacked on to share pricing for the company in the past month, a rally that has pushed up against longer standing distributive pressure in the stock. The situation may be worth watching. RMHB is a stock whose past is littered with sudden rips. In addition, the listing has seen an influx of interest of late, with the stock’s recent average trading volume running just shy of 160% over the long run average. Given this explosion of new interest, the stock bears watching for potential continuation higher. For continuing coverage on shares of $RMHB stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!