Trans Global Group, Inc. (OTC:$TGGI) is gaining attention from investors after it proposed a new growth strategy, including marijuana licenses in a process from multiple states. Specifically, TGG trumpets itself as a company, through its subsidiary Cannabis Consortium Inc, will be entering the highly lucrative marijuana market.
TGGI saw a boost in August after the company initiated an extended restructuring phase intended to reduce the total number of authorized shares. Since then, the company has reduced its authorized shares by over 2.7 billion, and its float by 300 million common shares.
The spokesperson for the company stated: “TGGI has already developed detailed plans for further reductions in the FLoat totaling 3 billion shares, and possibly more, once all the corporate actions for its Cannabis Consortium subsidiary have been completed.”
TGGI acquired Cannabis Consortium Inc. in 2010 to create an active trading subsidiary. The consortium is comprised of four main revenue streams containing specialty items, foods, beverages, and a research division.
Additionally, TGGI also dabbles in renewable energy and solar energy sector, provides general construction services, and offers bonding and insurance agency services.
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