SEATTLE, WA / ACCESSWIRE / February 24, 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 Soulshine Development Group, Inc.
Under the terms of the agreement, GRN Holding Corporation is acquiring all Soulshine Development Group assets, inventory, licenses, and intellectual property, as well as 51% of equity in the business.
Soulshine Development Group, Inc. is a holding company located in Renton, Washington, with assets including brands, inventory, intellectual property, leases, and asset management. Soulshine Development Group's brand assets feature unique packaging that is sustainably sourced, biodegradable, and compostable. Its facility has 86,888 square feet of space. Soulshine anticipates being a fully-automated supplier by 2021 and has already implemented weighing systems automation for its raw product, its sorting systems, and its pre-roll division.
Soulshine is a socially-responsible company that gives 1% of gross sales to the Emerald City Rescue, a Seattle-based pet rescue and animal welfare group that fosters pet adoption, and activism that supports conservation, animal welfare, anti-poaching, and efforts to prevent animal extinction.
"We are extremely pleased to bring a forward-thinking company into the GRN family that is highly-focused on sustainability measures while also focusing on the importance of such a charitable cause," said GRN Holding CEO Justin Costello.
About GRN Holding Corporation
GRN Holding Corporation (OTC Pink:GRNF) is a Nevada registered publicly-traded company.
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SOURCE: GRN Holding Corporation