SEATTLE, WA / ACCESSWIRE / February 21, 2020 / GRN Holding Corporation (OTC PINK:GRNF, the "Company"), announced today that the Company has completed its due diligence in connection with the acquisition of Magic Beans Hemp, LLC.
Under terms of the deal, GRN Holding Corporation is acquiring all Magic Beans Hemp, LLC assets including inventory, licenses, intellectual property, and 100% equity in the business. Following the acquisition, the company will be reclassified as a subsidiary corporation under GRN Holding Corporation.
Magic Beans Hemp, LLC, located in Tonasket, Washington, is a licensed hemp producer/processor. Magic Beans cultivates craft hemp using its advanced cultivation techniques. Additionally, it sources its specialty genetics yielding high CBD and low THC flower products. Magic Beans targets the smokable hemp flower market.
"We're looking forward to bringing this specialty craft hemp producer/processor under the GRN Holding Corporation umbrella, which we believe will be instrumental in the Company's growth and expansion into the hemp market," said GRN Holding Corporation CEO Justin Costello.
About GRN Holding Corporation
GRN Holding Corporation (OTC Pink:GRNF) is a Nevada registered publicly-traded company.
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This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: GRN Holding Corporation