ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) is a penny player in the cannabis patch that we have looked at several times in the past few months. RMHB stock exploded higher to start 2017, but has begun to range sideways in a wide consolidation pattern over the past six weeks. The company has continued to update the market on its activities, including its latest announcement last week that it has entered into an agreement with L and H Resort Systems to acquire a former Catskill Mountain resort facility located on a natural spring.
According to the release, the company plans to repurpose the resort into a Bottling and Canning Plant for Rocky Mountain High Brands. The company clearly plans to use state and Federal grants to help make the shift economical, meaning that it will be planning on hiring from the region. The point, as we understand it, will be to have a Northeastern expansion of production for the company’s hemp-infused flavored beverages.
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) bills 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.
Rocky Mountain High 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.
RMHB 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 noted above, the company has entered into an agreement to purchase a Catskills area resort property for conversion into a bottling and canning plant. Once referred to as America’s First Wilderness area by scholars that traced the start of the environmental conservation movement to this area, the Catskill Mountains have long been famous for the majestic mountain ranges to the pristine lake waters. The former Friar Tuck Inn is located in Greene County just a few miles away from Kaaterskill Falls, the highest waterfalls in New York.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, said, “The demographics of this part of upper state New York have changed over the past few years. What was once in demand as a resort area, now is part of a region in need of more employment opportunities. Repurposing the Resort to a bottling plant and canning plant will provide jobs to the area and will provide our Company with an important bottling and canning center in the Northeast. There are many grants available for projects such as this. These grants are set up to provide jobs for upstate New York. Since the new bottling plant will be located on a natural spring, RMHB will have tremendous opportunity to bottle our Eagle Spirit Spring Water and canning our Rocky Mountain High Brands’ five flavored Hemp drinks. We also will bottle the local water and add another brand of water to our product portfolio. We are very pleased to have the opportunity to acquire this important asset for our Company’s growth, as we continue our path toward listing on a national stock exchange.”
Jerry Grisaffi, Founder of Rocky Mountain High Brands, said, “This is a tremendous opportunity brought forth to us by Mrs. Lily Li’s group, LSW Holdings, LLC. This new location is in the heart of the northeast corridor of the United States and will allow easy access to distribution pipelines. The bottling plant is located right at the source of a naturally pure aquifer and will provide us an invaluable resource that can be bottled and shipped anywhere in the world.”
RMHB has a stash ($155K) of cash on the books, which stands against about $859K in total current liabilities. One should also note that debt has been growing over recent quarters. RMHB is pulling in trailing 12-month revenues of $806K. RMHB stock is nearing a key test of range support at the dime level. We will update the story again soon as further details emerge. 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!