Golden Grain Technology (OTCMKTS:GOGY) Stock Gains Momentum: Here is Why

Golden Grain Technology (OTCMKTS:GOGY) is one of the well-known players in the beverage business and it is currently focussed on the growth of its beverage portfolio through responsible investments.  A beverage business depends very much on the sort of distribution network that the company builds and remains an important aspect of the business’s growth.

Trading Data

On Thursday, GOGY stock moved up 10.42% to $0.2650 with 74.38K shares, compared to volume of 69.43K shares. The stock moved within a range of $0.2400 – 0.2800 after opening trade at $0.2400.

Golden Grail Technology (OTC:GOGY) Announcing Distribution Agreement with Olympic Eagle Distributing

Yesterday, Golden Grail announced that it had gone into a partnership with Olympic Eagle Distributing for the purpose of distributing its Sway Energy range of products in Washington State. It was another significant development for the company and it would be interesting to see if it leads to any major move in the stock today or not.

Olympic Eagle is one of the biggest distributors in the Pacific Northwest region and is known for distributing wine, spirits, cider, non-alcoholic beverages, craft beer, imported beer and domestic beer among others. It operates out of two facilities, one in Puyallup and the other in Hoquiam.

The Chief Executive Officer of Golden Grail, Steve Hoffman spoke about the development as well. He noted that after the string of other distribution partnerships that the company had gone into, the latest one was going to strengthen the company’s position in the Pacific Northwest further.

Key Quote

“I am pleased to announce our distribution agreement with Olympic Eagle Distributing,” stated Steve Hoffman, CEO of Golden Grail. “Along with other recently announced partnerships in the Pacific Northwest, partnering with Olympic Eagle further strengthens Golden Grail beverages position in the Pacific Northwest.”