Lifestyle-oriented cannabis company Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today
announced that it has entered an arm’s length definitive agreement to acquire
all of the issued and outstanding shares of capital stock of Spring Oaks
Greenhouses, Inc. Per the update, Spring Oaks holds a medical marijuana
dispensary license, received in April 2019, and authorization to operate as a
Medical Marijuana Treatment Center in the state of Florida. Under the license,
Spring Oaks is authorized to initiate production, processing and dispensing of
medical marijuana and marijuana products. In addition, the medical marijuana
dispensary license grants the right, but not the obligation, to open up to 35
dispensaries, with the potential to increase to 40 when the Florida Medical
Marijuana program surpasses 300,000 patients. “Entering Florida through the
Spring Oaks acquisition will be a great addition to our existing MSO presence
in Nevada and Massachusetts, as well as to our CBD business that already has a
national presence,” Green Growth Brands CEO Peter Horvath said in the news release.
“We admire several of the existing operators in the state and Florida is a
special market, with favorable financials implications for the best operators.
We look forward to quickly scaling our operations in the state and bringing our
expertise to every patient.”
To view the full press release, visit http://ibn.fm/LXqPj
About Green Growth Brands
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, Meri + Jayne, and has a
licensing agreement with the Greg Norman Brand. Already boasting strong sales
in the cannabis industry, GGB is expanding its cannabis operations throughout
the U.S., its CBD presence at ShopSeventhSense.com, in malls across the country
and at DSW shoe stores—and that’s just the beginning. For more information,
visit the company’s website at www.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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