Two cannabis penny stocks signed a memorandum of understanding (MOU) today, and both stocks are in the green as a result. Let’s take a look at Liberty Leaf Holdings (CSE:LIB) and PUF Ventures Inc. (CSE:PUF).
These stocks are heating up! LIB stock is up 7.69%, and PUF is up 3.95% at the time of writing.
Cannabis Penny Stocks: Liberty Leaf Holdings and PUF Ventures Inc.
Liberty Leaf and PUF Ventures are on a mission. The two cannabis penny stock companies signed an MOU together, whereby they’ll create a joint venture to cultivate and sell medical marijuana in Greece.
The Canadian companies have their eyes set on Europe, and the project is in the discussion stages. Currently, they are looking for local partners with the right resources and expertise to develop a large-scale, medical cannabis commercial cultivation operation.
Will Rascan, President and CEO of Liberty Leaf, said on the matter:
“We are looking to leverage our respective capabilities, combined knowledge, and experience to successfully develop a large-scale commercial medical cannabis project in Greece.”
Think of the penny stocks potential here when this venture gets going.
Greece is a Gateway to Europe
In 2017, Greece brought in a new legal framework for medical cannabis. As a result, there is interest from both the government and cannabis firms to invest in new cultivation projects.
Government bodies are eager to encourage investment projects that can help Greece’s ailing economy, which has suffered a financial crisis for years now. Cannabis cultivation may just create much-needed local employment and infrastructural investment.
Cannabis companies see the profit to be had from business in Greece. It offers low-cost real estate and labor, with acres of fertile land and warm, dry climates—ideal growing conditions.
This means low-cost yet high-quality cannabis, cultivated on a large-scale commercial basis, and this equals hefty revenue potential!
Importantly, Greece also gives access to the European Union, which has a population greater than the two largest cannabis markets in the world today—the US and Canada.
Cannabis Penny Stocks
These two cannabis penny stocks are embarking on an ambitious venture to take advantage of a whole new market. Keep your eyes closely on these cannabis penny stocks. You never know which will take off.
Featured Image: Depositphotos/© leungchopan