NetworkNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Enters Agreement with MXY Holdings to Create ‘360 Degree’ Cannabis Company
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.”
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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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
