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BPS initiates coverage on Megola Inc. (OTCMKTS:MGON)

BPS initiates coverage on Megola Inc. (OTCMKTS:MGON)
Written by
Aaron Smith
Published on
October 27, 2014
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On 22nd October’14, BrilliantPennyStocks.com initiated coverage on MGON. The stock moved up by 72.22% since the coverage was initiated.

Megola Inc. (OTCMKTS:MGON) shares were in hot demand in the markets during last week’s trading. This was post the announcement earlier this year by the company that it 100% owned subsidiary MedCan Marijuana, Inc., had invested in Green Relief, Inc.

Green Relief’s Operational Highlight

Green Relief Inc holds the distinction of being the world's largest federally licensed, purely organic Medical Marijuana producer. It has its operations centered in Canada. Green Relief has also signed a letter of intent with authorites at Health Canada. The deal involves the setting up and managing of Canadian operations, which would monetize the cutting edge technology platform developed by Megola Inc. (OTCMKTS:MGON).

Megola Inc Technology Helps Drive Up Production

Megola Inc. (OTCMKTS:MGON) would also be providing its partner with new breakthrough technologies which will allow the effective and cost effective treatment of air and water via high end filters. These filters would be used across the “100,000 square foot state-of-the-art aquaponics production” Unit. Through this deal the two firms have forecasted generation of nearly $25 million worth medical marijuana, which would sell for nearly $500 million in U.S open hemp market.

Expressing happiness at the development, Megola Inc. (OTCMKTS:MGON)President and CEO MagalyBianchini went on to state that, "We're very excited to have the opportunity to deploy our water and air filtration systems in such a mission critical function, along with the extraordinarily lucrative position that co-ownership brings."

Future Road Map

The CEO cited the partnership his firm has struck with Green Relief Inc as a test case of how his firm’s proprietary technology can be customized and reapplied to newer industry verticals and markets. He also went on to air Megola Inc. (OTCMKTS:MGON) intention to enter into similar partnership agreements with other companies to explore synergies. He also announced the revamping of the company website to enable an easier access to its shareholders.

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