The share price of TWZ Corporation Public Company Limited (TWZ) hit the ceiling at ฿0.11/share at the open on March 31, 2021, increased ฿0.02/share or 22.22%.
Yesterday, TWZ announced that its Board of Directors on March 8, 2021, approved a feasibility study of participation in investment (MOU) with Rakjang Farm Wang Nam Khiao Community Enterprises by assigning the Executive Committee to study the feasibility of the project as well as to study potential hedging practices in the future, and also authorize the Management Committee to approve the investment.
On March 24, 2021, I’m the Board of Directors signed MOU with Rakjang Farm Community Enterprises involving the production and distribution of all hemp and/or cannabis products of RakJang Farm to support unblocking of all parts of the cannabis plant, except cannabis flower and leaves which attached to it.
Rak Jang Farm Enterprise will establish Kanyarak Company to allow TWZ to participate in the 51% and 49% stake of the Rak Jang Enterprise Group. Kanyarak will have the exclusive right to (exclusively) obtain the right or concession to purchase raw materials produced on the farm, including future product discounts not less than 20% of the market price.
Kanyarak’s business objectives are to operate businesses related to the production and distribution of hemp and/or hemp-related products. It is made from raw materials produced and/or purchased by Kanyarak and sells its products to customers and/or other venture capital companies. Carrying out other businesses that involve selling products to different groups of consumers, these groups are also known as downstream groups, such as beverages, food groups, snacks, health and beauty groups, etc.
TWZ stated that after the company has reached this joint venture agreement. In the meantime, the company will select downstream business groups that will enter into negotiations, agree to study, research and develop products, as well as negotiate on joint ventures according to the objectives and intent that the company has joint ventures with. Community Enterprise of Rak Jang Farm Group If there is any progress. The company will be reported to the Stock Exchange of Thailand. As for the income generated from the said business since the present The Group already has raw material availability and availability of products and products. Therefore, the Company expects to recognize revenue in the second quarter of 2021 and is expected to negotiate with partners who are ready in terms of availability. Products and marketing to further expand and expand the product market within 1-2 months.
Rakjang Farm Community Enterprises grew cannabis plants under the support and cooperation of Thai government agencies of ChaoPhraya Aphaiphubet Hospital and The Pharmaceutical Organization, which is regarded as one of the prototype community enterprises in collaboration with public hospitals, developed a model of medical marijuana cultivation in the form of greenhouses (Green House).
The FDA has not allowed any private companies to grow cannabis at all. However, Rakjang enterprises joined hands with two of the 17 licensed growers: Aphiphubet Hospital and the Pharmaceutical Organization.
Now the farm has 1,890 cannabis plants and 1,200 to 2,000 cannabis plants are developing for the second phase with the type CBD Charlotte’s. angel, which is a very high CBD and very low THC, to be suitable for business and legalization. This will significantly reduce costs, time and production processes.