The hemp industry has grown by leaps and bounds in the past couple of years and one of the companies to have emerged as an interesting constituent of that industry is Hemp Naturals Inc (OTCMKTS:HPMM). The company is still an early stage business and is primarily involved with developing and selling products that are derived from industrial hemp.
There was no news about Hemp Naturals in the past week but the stock was in focus among investors and ended up clocking gains of as much as 26% during the period. The last major news about the company had emerged back in June when Hemp Naturals announced that it completed the acquisition of an advanced facility located in upstate New York.
The acquisition is a part of the company’s larger goal to become one of the major players in the industrial hemp industry and hence, it was a significant development for Hemp Naturals.
More importantly, the acquisition has also been made with one eye on the possibility that cannabis might be legalised across the United States at some point in the future. The facility spans across an area of 8250 square foot and consists of an office, shop and a production space cum warehouse.