- Hempacco Co Inc (NASDAQ:HPCO) has entered into a joint venture agreement with Sonora Paper Co., Inc. (SPCI) to manufacture, market, and distribute hemp blunt wraps, hemp tubes, and hemp smoking cones based on SPCI's intellectual property.
- Hempacco had previously formed The Real Stuff Inc in March 2021 and recently changed the name to Hempacco Paper Company Inc.
- Hempacco owns 80% of the equity interests of the JV, and SPCI owns 20%.
- The new JV focuses on penetrating the cannabis industry with smoking paper products. It will develop and manufacture smoking paper products in the U.S. and Mexico.
- "There is currently a scarcity of blunt wraps in the marketplace and this new joint venture will help us carve out that niche for Hempacco," said Jorge Olson, Co-Founder and CMO of Hempacco.
- Also Read: Hempacco Forms JV With High Sierra Technologies For Low Odor Hemp Cigarettes
- Price Action: HPCO shares are trading lower by 0.67% at $1.49 on the last check Monday.
