CBDNewsBreaks - Green Growth Brands Inc. (CSE: GGB
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Posted On: 04/03/2020 6:09:10 PM
CBDNewsBreaks - Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Consent to Receivership Appointment for CBD Business, Continuation of Cannabis Business in FL, MA and NV
Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced that a special committee of the Board of Directors has concluded the previously announced strategic review process related to the company's cannabidiol (“CBD”) business. As a result, Green Growth Brands has determined that appointment of a receiver is in the best interest of the company and the creditors of the CBD business. The CBD business is operated by six of the company's subsidiaries: Green Growth Brands LLC, GGB Beauty LLC, GGB Licenses LLC, Green Growth Brands Realty LLC, GGB Kiosks LLC, and GGB GN LLC, each of which will be subject to the receivership order. The company will continue to operate its cannabis business in Florida, Massachusetts, and Nevada (the "MSO Business"
through its subsidiaries Nevada Organic Remedies LLC ("NOR" , Henderson Organic Remedies LLC ("Henderson" , Wellness Orchards of Nevada LLC, Just Healthy LLC, and Spring Oaks Greenhouses Inc. (collectively, the "MSO Subsidiaries" . NOR and Henderson, which operate the company's The+Source dispensaries in the Las Vegas, Nevada region, have recently commenced delivery service in response to Nevada Governor Stephen Sisolak's March 20, 2020 order limiting dispensary operations in the state. None of the MSO subsidiaries nor any of their respective assets will be subject to the receivership order.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced that a special committee of the Board of Directors has concluded the previously announced strategic review process related to the company's cannabidiol (“CBD”) business. As a result, Green Growth Brands has determined that appointment of a receiver is in the best interest of the company and the creditors of the CBD business. The CBD business is operated by six of the company's subsidiaries: Green Growth Brands LLC, GGB Beauty LLC, GGB Licenses LLC, Green Growth Brands Realty LLC, GGB Kiosks LLC, and GGB GN LLC, each of which will be subject to the receivership order. The company will continue to operate its cannabis business in Florida, Massachusetts, and Nevada (the "MSO Business"
through its subsidiaries Nevada Organic Remedies LLC ("NOR" , Henderson Organic Remedies LLC ("Henderson" , Wellness Orchards of Nevada LLC, Just Healthy LLC, and Spring Oaks Greenhouses Inc. (collectively, the "MSO Subsidiaries" . NOR and Henderson, which operate the company's The+Source dispensaries in the Las Vegas, Nevada region, have recently commenced delivery service in response to Nevada Governor Stephen Sisolak's March 20, 2020 order limiting dispensary operations in the state. None of the MSO subsidiaries nor any of their respective assets will be subject to the receivership order. Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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