Investors who may be thinking about tracking cannabis companies at this point could do well to consider taking a look at Unrivaled Brands Inc (OTCMKTS:UNRV). The company’s operations are mainly concentrated in the state of California and yesterday it came up with some key operational updates.
On Wednesday, UNRV stock slid 3.23% to $0.0150 with 548.03K shares, compared to its average volume 622.07K shares. The stock moved within a range of $0.0148 – 0.0168 after opening trade at $0.0155.
Unrivaled Brands Announces Operational Updates and Executive Appointments
Unrivaled announced yesterday that it was going to spin off a pair of assets in Oregon and reopen a dispensary located in Blum San Leandro. However, that was not all. The company also announced that it had appointed a new Chief Executive Officer and member of the board in the form of Sabas Carrillo. In addition to that, Jim Miller was made the new Chief Operating Officer and Tracy McCourt was appointed as the new Chief Revenue Officer.
The company announced that the reopening of the San Leandro dispensary was done after Unrivaled signed a management services agreement with Brick City Productions Inc.
More importantly, the operator of the store is also going to stump up the working capital for the reopening through the issuance of a promissory note of a maximum of $400000. It now remains to be seen if all these developments lead to any attention for the stock in the coming days or not.