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.