Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) on
Monday released its results for the period ended December 28, 2019. According
to the update, Green Growth Brands’ revenues for the period totaled $21.1M.
“The results this quarter are a reflection of our ability to create products
and experiences that consumers want,” Green Growth Brands CEO Peter Horvath
said in the news release. “We are pleased with the consumer demand signals we
saw in the CBD segment during the quarter, and we remain confident in its
future potential. However, overhead costs, near-term obligations and
constraints on liquidity have posed significant challenges that have hindered
us from growing the CBD business in the timeframes we anticipated to its
full-potential. The initiatives we announced today to sell the CBD segment,
restructure debt and raise equity financing improves the financial
infrastructure we need to scale our MSO segment. We believe focusing our
expertise on the MSO segment will yield the highest long-term value for our
shareholders and customers.”
To view the full press release, visit http://ibn.fm/oAbQO
About Green Growth Brands Inc.
Green Growth Brands creates remarkable experiences in
cannabis and CBD. Led by CEO Peter Horvath and a leadership team of
consumer-focused retail experts, the company’s brands include CAMP, Seventh
Sense Botanical Therapy, The+Source, Green Lily, and 8 Fold. The Company also
has a licensing agreement with the Greg Norman(TM) Brand to develop a line of
CBD-infused personal care products designed for active wellness. GGB is
expanding its cannabis operations throughout the U.S., via dispensaries in
Nevada, Massachusetts and Florida and the largest network of CBD shops in malls
across the country and ShopSeventhSense.com. Learn more about the vision at GreenGrowthBrands.com.
NOTE TO INVESTORS: The latest news and updates
relating to GGBXF are available in the company’s newsroom at http://ibn.fm/GGBXF
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