Lifestyle-oriented cannabis company Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced that it has entered an arm’s length definitive agreement to acquire all of the issued and outstanding shares of capital stock of Spring Oaks Greenhouses, Inc. Per the update, Spring Oaks holds a medical marijuana dispensary license, received in April 2019, and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida. Under the license, Spring Oaks is authorized to initiate production, processing and dispensing of medical marijuana and marijuana products. In addition, the medical marijuana dispensary license grants the right, but not the obligation, to open up to 35 dispensaries, with the potential to increase to 40 when the Florida Medical Marijuana program surpasses 300,000 patients. “Entering Florida through the Spring Oaks acquisition will be a great addition to our existing MSO presence in Nevada and Massachusetts, as well as to our CBD business that already has a national presence,” Green Growth Brands CEO Peter Horvath said in the news release. “We admire several of the existing operators in the state and Florida is a special market, with favorable financials implications for the best operators. We look forward to quickly scaling our operations in the state and bringing our expertise to every patient.”
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About Green Growth Brands
Green Growth Brands creates remarkable experiences in cannabis and CBD. Led by CEO Peter Horvath and a leadership team of consumer-focused retail experts, the company’s brands include CAMP, Seventh Sense Botanical Therapy, The+Source, Green Lily, Meri + Jayne, and has a licensing agreement with the Greg Norman Brand. Already boasting strong sales in the cannabis industry, GGB is expanding its cannabis operations throughout the U.S., its CBD presence at ShopSeventhSense.com, in malls across the country and at DSW shoe stores—and that’s just the beginning. For more information, visit the company’s website at www.GreenGrowthBrands.com.
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