$DNAX DNA Brands Signs Joint Venture Agreement
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Posted On: 11/15/2021 2:08:45 PM
$DNAX DNA Brands Signs Joint Venture Agreement
https://www.accesswire.com/viewarticle.aspx?i...244mv5unz8
LOS ANGELES, CA and FORT LAUDERDALE, FL / ACCESSWIRE / November 15, 2021 / DNA Brands is pleased to announce that it has entered an agreement with a partner located in Los Angeles, California. Under the terms of the agreement DNA Brands will be the majority owner of a newly formed wholly owned subsidiary, Green Thumb Ventures LLC, a Colorado Corp. The purpose of this subsidiary will be to identify and cherry pick distressed assets of value, specifically in the cannabis space.
The California cannabis market is the world's largest and federal legalization is anticipated to be around the corner. The price of wholesale cannabis, licenses and facilities in California are at all time lows. Businesses are hurting and feeling the pinch. Green Thumb Ventures LLC plans to strategically identify undervalued cannabis projects that are overextended and in need of additional financing but which provide immediate value for an equity investor.
Green Thumb Ventures has identified its first opportunities which include a licensed Manufacturer, Distributor and Retail delivery business, prime Humboldt County Cultivation properties. These ventures are well operated and managed but market conditions and pricing will allow us to acquire controlling stakes and become vertically integrated with very little investment.
By the numbers: With approximately 28 million people of age, California is the largest legal cannabis market in the world - nearly twice the size of New York's legal market (15 million). California generated $4.4 billion in legal marijuana sales in 2020, or roughly 20% of global cannabis sales.
In staying in line with the Berkshire Hathaway model, DNA plans to use Green Thumb Ventures as a holding company to acquire and employ distressed cannabis assets. Under the terms of the agreement DNA will finance the acquisition of projects into Green Thumb Ventures LLC. Its partner in Southern California will be led by minority business owner and cannabis veteran, Mr. Rendhel Pierre-Louis.
About Mr. Rendhel (Ren) Pierre-Louis: Mr. Pierre-Louis, is a first generation American, born and raised in Brooklyn, New York. A graduate of Washington University School of Law, in St. Louis Missouri in 2006, Ren saw the writing on the wall and headed to California to be a part of the cannabis greenrush in 2014.
As a Cannabis wholesaler in California for the past 7+ years Ren has been building and nurturing relationships and businesses nationwide. One of his current companies, Savage Valley LLC, a California cannabis company, grossed about $26 Million in Revenue in 2020. As a partner at Green Thumb Ventures LLC, Ren's primary responsibility will be to target, negotiate and manage cannabis opportunities, on behalf of the company.
Teaming Ren's knowledge and understanding of the cannabis markets with DNA Brands broad experience and investor network will enable Green Thumb Ventures to easily identify undervalued, low risk assets and investment opportunities.
https://www.accesswire.com/viewarticle.aspx?i...244mv5unz8
LOS ANGELES, CA and FORT LAUDERDALE, FL / ACCESSWIRE / November 15, 2021 / DNA Brands is pleased to announce that it has entered an agreement with a partner located in Los Angeles, California. Under the terms of the agreement DNA Brands will be the majority owner of a newly formed wholly owned subsidiary, Green Thumb Ventures LLC, a Colorado Corp. The purpose of this subsidiary will be to identify and cherry pick distressed assets of value, specifically in the cannabis space.
The California cannabis market is the world's largest and federal legalization is anticipated to be around the corner. The price of wholesale cannabis, licenses and facilities in California are at all time lows. Businesses are hurting and feeling the pinch. Green Thumb Ventures LLC plans to strategically identify undervalued cannabis projects that are overextended and in need of additional financing but which provide immediate value for an equity investor.
Green Thumb Ventures has identified its first opportunities which include a licensed Manufacturer, Distributor and Retail delivery business, prime Humboldt County Cultivation properties. These ventures are well operated and managed but market conditions and pricing will allow us to acquire controlling stakes and become vertically integrated with very little investment.
By the numbers: With approximately 28 million people of age, California is the largest legal cannabis market in the world - nearly twice the size of New York's legal market (15 million). California generated $4.4 billion in legal marijuana sales in 2020, or roughly 20% of global cannabis sales.
In staying in line with the Berkshire Hathaway model, DNA plans to use Green Thumb Ventures as a holding company to acquire and employ distressed cannabis assets. Under the terms of the agreement DNA will finance the acquisition of projects into Green Thumb Ventures LLC. Its partner in Southern California will be led by minority business owner and cannabis veteran, Mr. Rendhel Pierre-Louis.
About Mr. Rendhel (Ren) Pierre-Louis: Mr. Pierre-Louis, is a first generation American, born and raised in Brooklyn, New York. A graduate of Washington University School of Law, in St. Louis Missouri in 2006, Ren saw the writing on the wall and headed to California to be a part of the cannabis greenrush in 2014.
As a Cannabis wholesaler in California for the past 7+ years Ren has been building and nurturing relationships and businesses nationwide. One of his current companies, Savage Valley LLC, a California cannabis company, grossed about $26 Million in Revenue in 2020. As a partner at Green Thumb Ventures LLC, Ren's primary responsibility will be to target, negotiate and manage cannabis opportunities, on behalf of the company.
Teaming Ren's knowledge and understanding of the cannabis markets with DNA Brands broad experience and investor network will enable Green Thumb Ventures to easily identify undervalued, low risk assets and investment opportunities.
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