$ORGH Huge News - Zona Energy Principal Shareholde
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Posted On: 12/11/2019 7:35:22 AM
$ORGH Huge News - Zona Energy Principal Shareholders Purchase Controlling Interest in OrgHarvest for $50 Million
LAS VEGAS, Dec. 10, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – OrgHarvest, Inc., “OrgHarvest” or the “Company” (OTCMKTS: ORGH), the first U.S. based cannabis cultivation company to achieve a Regulation A+ qualification, announced today that the Company has signed a binding agreement to sell controlling interest in the Company to the principal shareholders of Texas-based, Zona Energy, Inc., for $50M.
“Just before the Thanksgiving holiday, I received approval from our Board of Directors to move forward with a binding agreement, that would transfer controlling interest of OrgHarvest to First Seed Farms, Inc. and First Seed International, Inc. – the controlling shareholders of Zona Energy, Inc. – for $50 million,” stated Frank Celecia, CEO of OrgHarvest. “We believe this could be a major opportunity for OrgHarvest as the ultimate relationship would be with Zona Energy, who is set to do some very interesting things within the cannabis and hemp marketplace.”
The acquisition will be made in an all stock purchase, where controlling interest of OrgHarvest is being transferred to First Seed Farms, Inc. and First Seed International, Inc. for $50M in their Zona Energy, Inc. common stock holdings. Management suggests that with the support of Zona Energy and its principals, there would potentially be greater interest in ramping up funding to the Company.
While the closing is scheduled for month-end, December 2019, it is highly anticipated that the transaction will come to fruition timely. This would inevitably fast track the potential of the Company’s business model and should position OrgHarvest to become a major player within the cannabis and hemp industries, as a U.S. based cultivation operation.
Mr. Celecia concluded, “We are pleased that Zona Energy’s principals identified OrgHarvest as the most suitable Company for them to pursue their cannabis and hemp endeavors with. We will work diligently to make this venture a huge success and will continue to provide shareholders with updates pertaining to this transaction and its overall value proposition.”
To learn more about OrgHarvest’s offering, please visit https://www.fundanna.com/equity/offer-summary/OrgHarvest.
For more information, please visit:
Website: http://www.orgharvest.us/
OrgHarvest video: https://youtu.be/O6tBHMfjBEs
3D greenhouse: https://youtu.be/KjHaueQ5Ufc
JOBS Act (Title IV) Regulation A+ Offering: https://www.fundanna.com/equity/offer-summary/OrgHarvest
About OrgHarvest, Inc.
OrgHarvest’s competitive advantages include risk diversification through the approach of growing cannabis using a high-tech, custom-made, Dutch glasshouse manufactured in the Netherlands, which offers a unique combination of advantages unmatched by OrgHarvest’s competitors. Compared to other cannabis operations, the Company differentiates itself by offering a facility that can provide better quality flowers, pest-free growing conditions, and a stronger focus on developing strains and new products using exclusive patented technology.
https://finance.yahoo.com/news/zona-energy-pr...10013.html
LAS VEGAS, Dec. 10, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – OrgHarvest, Inc., “OrgHarvest” or the “Company” (OTCMKTS: ORGH), the first U.S. based cannabis cultivation company to achieve a Regulation A+ qualification, announced today that the Company has signed a binding agreement to sell controlling interest in the Company to the principal shareholders of Texas-based, Zona Energy, Inc., for $50M.
“Just before the Thanksgiving holiday, I received approval from our Board of Directors to move forward with a binding agreement, that would transfer controlling interest of OrgHarvest to First Seed Farms, Inc. and First Seed International, Inc. – the controlling shareholders of Zona Energy, Inc. – for $50 million,” stated Frank Celecia, CEO of OrgHarvest. “We believe this could be a major opportunity for OrgHarvest as the ultimate relationship would be with Zona Energy, who is set to do some very interesting things within the cannabis and hemp marketplace.”
The acquisition will be made in an all stock purchase, where controlling interest of OrgHarvest is being transferred to First Seed Farms, Inc. and First Seed International, Inc. for $50M in their Zona Energy, Inc. common stock holdings. Management suggests that with the support of Zona Energy and its principals, there would potentially be greater interest in ramping up funding to the Company.
While the closing is scheduled for month-end, December 2019, it is highly anticipated that the transaction will come to fruition timely. This would inevitably fast track the potential of the Company’s business model and should position OrgHarvest to become a major player within the cannabis and hemp industries, as a U.S. based cultivation operation.
Mr. Celecia concluded, “We are pleased that Zona Energy’s principals identified OrgHarvest as the most suitable Company for them to pursue their cannabis and hemp endeavors with. We will work diligently to make this venture a huge success and will continue to provide shareholders with updates pertaining to this transaction and its overall value proposition.”
To learn more about OrgHarvest’s offering, please visit https://www.fundanna.com/equity/offer-summary/OrgHarvest.
For more information, please visit:
Website: http://www.orgharvest.us/
OrgHarvest video: https://youtu.be/O6tBHMfjBEs
3D greenhouse: https://youtu.be/KjHaueQ5Ufc
JOBS Act (Title IV) Regulation A+ Offering: https://www.fundanna.com/equity/offer-summary/OrgHarvest
About OrgHarvest, Inc.
OrgHarvest’s competitive advantages include risk diversification through the approach of growing cannabis using a high-tech, custom-made, Dutch glasshouse manufactured in the Netherlands, which offers a unique combination of advantages unmatched by OrgHarvest’s competitors. Compared to other cannabis operations, the Company differentiates itself by offering a facility that can provide better quality flowers, pest-free growing conditions, and a stronger focus on developing strains and new products using exclusive patented technology.
https://finance.yahoo.com/news/zona-energy-pr...10013.html
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