Any hype that SUNSET IS GRP INC COM USD0.001 (POST REV SPLT(OTCMKTS:SIGO) got at the beginning of 2017 after launching its cannabis division had pretty much gone cold by the end of spring, and it looked like the summer season could be an equally subdued affair.
Starting around this time last month, that couldn’t be any further from the truth, as the company has released a slew of updates, and the stock itself has gone on a persistently bullish run that has multiplied its value several times over.
It began around the time that SUNSET IS GRP INC COM USD0.001 (POST REV SPLT(OTCMKTS:SIGO) harvested its first crop of cannabis, followed shortly thereafter by a massive share reduction whereby the company reduced its authorized shares by a whopping 80% A few days later at the start of August, SIGO hinted at the formulation of multiple other cannabis cultivation agreements to facilitate its expansion and the PPS really took off.
That was helped along by the declaration of monthly dividends for all shareholders just a week later, and last week the company further demonstrated its commitment to providing value by announcing that it is executing a formal three year Lock-Up Agreement with respect to 91.94% of all outstanding shares.
CEO T.J. Magallanes stated, “We are in this for the long haul. As we expand our operations, we will do so with the focused mindset of capturing as much market share as possible. In order to provide one more example of how committed we are to both the business and the shareholders, Valerie and I will be locking up our combined 46M shares for the next three years.”
CFO Valerie Baugher stated, “With this step, we are reaffirming to our employees and shareholders that we believe strongly in the vision of the company. We want everyone involved in the business end of things to focus strictly on the operation and not worry about stock value, market cap or anything else unrelated to building our business and our brand. If we do so, stock value, market cap, etc. will take care of itself.” (Source: PR Newswire)
In addition to its current grow operations, SIGO has looked at additional expansion space that’s available, and is considering 230,000 square feet of cannabis grow space.
CEO T.J. Magallanes stated, “We have a very solid plan for accessing additional capital for expansion that will more than meet our previously announced expansion plans. With that being said, as a result of recent discussions with our current lease holder, it has come to our attention that up to 230K square feet of additional grow space could become available soon at very favorable terms. We are strongly considering this option based on the terms presented. Based on the results of our first harvest and the overall performance of our team, we are of the opinion that we should be able to scale up production at a much quicker pace than originally expected.”
CFO Valerie Baugher stated, “Even if we do not immediately put all of that square footage into production, another consideration is the permitting and licensing requirements that will be put into effect across the state of California at the beginning of next year. Every indication points to less growers across the state as the legal requirements become more stringent. Having a surplus of square footage could become an advantage to us if in fact the demand for product becomes more than available supply.” (Source: PR Newswire)
Between what seems like a genuine commitment to its shareholders, and the massive move SIGO has made on the chart, we’ll definitely be interested to continue tracking its activity moving forward. Stay locked to Street Register for updates, and we’ll deliver important developments on SIGO as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SIGO stock, short or long.