Bud Genius Inc. (OTC: RIGH), a leading laboratory for cannabis testing and brand development specialist, recently announced that it’s considering a share repurchase of up to two billion shares. The repurchases being considered would be made through open market or private transactions, subject to market conditions, legal requirements, and other relevant factors.
“The company may have an opportunity to buy shares of its own stock at a favorable price,” said Bud Genius CEO Angel Stanz in a press release announcing the potential repurchase. “This buyback consideration represents our continued confidence in our growth strategy in ability to generate new revenue.”
The move comes shortly after the company announced that it signed a letter of intent to acquire Evergreen Licensing – exclusive licensor of Tommy Chong marijuana, hemp, and cannabis-related products. Under the agreement, the company will manage licensing and distribution of Tommy Chong products in California and provide a number of revenue-generating services.
The company also recently added two experienced people to its executive team and advisory boards, including cannabis marketing expert Randall A. Huft and finance expert Dr. Peter Wilson. With these two individuals helping to move things forward, the company is well positioned to execute on its business plans following the Evergreen Licensing deal to unlock long-term value for shareholders.
Shares of Bud Genius Inc. were trading even in early hours on Thursday, April 9, 2015 following the news release.
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