Hempacco Forms JV With Sonora Focused On Smoking Paper Products

Hempacco Forms JV With Sonora Focused On Smoking Paper Products
  • Hempacco Co Inc 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.
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