On Tuesday, there were a number of stocks which had managed to clock notable gains and one of those was the Greene Concepts Inc (OTCMKTS:INKW) stock, which ended up with gains of as much as 23%. The company came into focus yesterday after it announced that it had managed to finalize a distribution and retail agreement with Lowes Foods and Merchants Distributors.
On Tuesday, INKW stock rose 23.81% to $0.0052 with more than 7.16 million shares, compared to its average volume of 4.35 million shares. The stock moved within a range of $0.0044 – 0.0052 after opening trade at $0.0045.
Greene Concepts Secures New Retail Distribution to Five Hundred Grocery Stores
As per the provisions of the agreements, the two entities are going to be responsible to carry and shelf the company’s BE WATERs latest six pack configurations all across the Eastern United States. The agreement could well prove to be a significant one for Green Concepts since it would give its product the access to more than 500 stores.
The distribution of the product to new retailers would take place in March and would continue up until the end of April. The agreement is going to cover more than 400 stores serviced by Merchants Distributors and more than 80 stores which are serviced by Lowes Foods. Out of the 650 Merchants Distributors stores, 380 are going to utilize the BE WATER planograms as well. The planogram is a schematic tool which helps a retail store in planning the layout of products.