Business
Green Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks
Green Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks.
About this update from Green Growth Brands Inc
[{"type":"text","content":"\n\n\n\nGreen Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nGreen Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks\nPR Newswire\nCOLUMBUS, OH, June 4, 2019\n\n\n\nAcquisition will grant Green Growth Brands the ability to open up to 35 dispensaries with potential for more \n COLUMBUS, OH, June 4, 2019 /PRNewswire/ - Green Growth Brands, Inc. (CSE: GGB) (OTCQB: GGBXF) (\"GGB\" or \"the Company\") announced that on Monday, June 3, 2019, it executed an arm's length definitive agreement to acquire all of the issued and outstanding shares of capital stock of Spring Oaks Greenhouses, Inc. (\"Spring Oaks\").  \n\n \n \n\n \nSpring Oaks holds a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida. The medical marijuana dispensary license, received in April of this year, authorizes Spring Oaks to initiate production, processing, and dispensing of medical marijuana and marijuana products. The license grants the right, but not the obligation, to open up to 35 dispensaries, subject to an increase to 40 when the Florida Medical Marijuana program surpasses 300,000 patients. \n\"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,\" said Green Growth Brands CEO, Peter Horvath. \"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.\" \nThe purchase price for the shares of capital stock of Spring Oaks of approximately USD$54,650,000 (CAN$73,613,550), subject to certain post-closing purchase price adjustments, shall be satisfied by GGB at closing ...