Latteno Food Corp. (OTC: LATF), developer of marijuana edibles and related products and services, recently announced the acquisition of DMND Inc. and its Diamond Grove Delivery (“DGD”) business. Operating out of Anaheim, California, the company provides daily delivery services to over 200 active medical marijuana patients to various Orange County, California cities.
“We are thrilled to add DGD products and customer base to our growing portfolio of MMJ offerings,” said Latteno Food Corp. CEO Thu Le. “This addition, together with the opening of our MMJ Evaluation Office in LA, has validated our strategy and aggressive timelines we have established. We are committed to grow within the MMJ market place and will continue to pursue MMJ opportunities.”
In addition to the 200 active medical marijuana patients, Latteno Foods’ acquisition provides it with several thousand social media followers that should expand the market reach for its existing delivery business, Rx Harvest Collective. The acquisition marks the first of many planned acquisitions designed to bolster the delivery and online ordering side of the business.
Latteno Foods also recently announced the official opening of its Medical Marijuana Evaluation Office in Los Angeles, California. Staffed by doctors knowledgeable with Chinese herbal medicine and medical cannabis, the office evaluates and recommends state-issued MMJ cards to qualified California residents. The service is expected to provide a continuing source of potential MMJ delivery customers.
In addition to these venues, Rx Harvest Collective customers can now order online at www.RxHC.org. The potential to place online orders could significantly expand the market for its delivery services. And according to a recent press release, additional products and services are currently under development and will be introduced over the coming weeks.
Shares Latteno Food Corp. jumped more than 4% early during Monday’s session and is trading up more than 540% over the past three months.
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