SEATTLE, WA / ACCESSWIRE / August 27, 2020 / GRN Holding Corporation, (OTC PINK:GRNF)(the "Company"), announces its filing of Form 8-K August 26, 2020, disclosing important corporate actions designed to facilitate its acquisition plans. On November 12, 2019, the Company announced its acquisition strategy by disclosing its execution of several non-binding Letters of Intent to acquire several businesses. Beginning January, 2020, the Company began its due diligence into these acquisition targets, and proceeded to execute binding letters of intent to move forward with the acquisition process, with the next step entering into material definitive agreements to formally complete the acquisitions.
Justin Costello, Company Chief Executive Officer and Director, commented: "In analyzing the capital structure of our company, in conjunction with our asset strategy, it was clear that in order to complete our acquisitions, the Company required flexibility to issue restricted shares as consideration. As we disclosed in our recent annual report filed with the SEC, our authorized shares are limited to 250 million shares and as of today, the Company has issued 249,843,977 shares. Obviously, and in order to complete the acquisitions, the Company determined to increase its authorized shares to accommodate our acquisition strategy in order to bring value to our shareholders.
About GRN Hold Corporation
GRN Holding Corporation (OTC PINK:GRNF) is a Nevada registered publicly-traded company.
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SOURCE: GRN Holding Corporation