Lifestyle-oriented cannabis company Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today
announced its entry into a securities acquisition and contribution agreement,
dated as of July 8, 2019, with, among others, MXY Holdings LLC (“Moxie”). Per
the update, a new Ontario limited partnership will be formed, of which GGB will
be the general partner (“GGB LP”), will acquire the GGB operating companies and
the issued and outstanding units of Moxie, an arm’s length third party, in an
all-equity interest transaction. GGB will also, as part of the transaction, be
directly acquiring shares of Delaware entities within the Moxie structure, MXY
C, INC. and MXY D, INC., as well as interests in two entities, PurePenn LLC and
Pure CA, LLC, with which Moxie has current acquisition agreements (subject to
regulatory approval). “In the short time since we began operations, we have
built a business comprised of highly experienced management and merchant teams
and cannabis experts, who have created successful CBD and MSO businesses. The
coming together of Moxie and Green Growth Brands is anticipated to complete the
circle,” Green Growth Brands CEO Peter Horvath said in the news release.
“As a ’360 degree’ cannabis company, we expect to bring an expertise to each
segment of the combined business: cannabis dispensaries, vertically-integrated
and wholesale CBD and wholesale cannabis consumer products.”
To view the full press release, visit http://ibn.fm/oQEke
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, and Meri + Jayne. 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. Already
driving the strongest sales per square feet 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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