Shineco Inc: Rises as Co locks in new industrial cannabis strains

Shineco

20/03/2019 14:32

** Shares of Chinese herbal medicines producer and
distributor  TYHT.O  up 5.7 pct at $1.29, building on Tuesday's
84.8 pct jump 
    ** Co enters into three deals with the Hemp Research
Institute of the Chinese Academy of Agricultural Sciences
(HRI) urn:newsml:reuters.com:*:nPn7d0TWpa
    ** Deals are for industrial cannabis technology transfer,
industrial cannabis technical service and R&D cooperation
    ** HRI to transfer use rights and intellectual property
rights of its newly bred high CBD industrial cannabis strains,
the M11 line, to TYHT
    ** Beijing-headquartered Shineco to pay 5 mln yuan
($747,160.79) to HRI for the use of rights
    ** Including session moves, TYHT stock has jumped 120.2 pct
this year, as it recovers from a near 75 pct slide during 2018

($1 = 6.69 Chinese yuan renminbi)

 (Reporting by Aaron Saldanha in Bengaluru)
 ((Aaron.Saldanha@thomsonreuters.com; +91 80 6749 1130; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))