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Green Growth Brands to Acquire Option for Medical and Retail Dispensary in Henderson, Nevada
Green Growth Brands to Acquire Option for Medical and Retail Dispensary in Henderson, Nevada.
About this update from Green Growth Brands Inc
[{"type":"text","content":"\n\n\n\nGreen Growth Brands to Acquire Option for Medical and Retail Dispensary in Henderson, Nevada\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 to Acquire Option for Medical and Retail Dispensary in Henderson, Nevada\nCanada NewsWire\nCOLUMBUS, OH, Dec. 14, 2018\n\n\n\nPotential Acquisition Would Add to GGB's Expanding Nevada Operations\n COLUMBUS, OH, Dec. 14, 2018 /CNW/ - Xanthic Biopharma, Inc. d/b/a Green Growth Brands (CSE: GGB) (GGB or the Company) announced today that it has agreed to accept an irrevocable option (the Henderson Option) to acquire all of the membership interests of Henderson Organic Remedies, LLC (Henderson Organic) together with the right to all of Henderson Organic's free cash flow until exercise of the Henderson Option in consideration of the issuance of (i) a secured loan (the Loan) in the principal amount of USD$15,485,000 (CAD$20,752,000) and (ii) a common share purchase warrant (the Warrant) exercisable for 7,609,746 common shares of GGB in the aggregate.  Henderson Organic operates a 2,693 square foot medical and retail marijuana dispensary facility located in Henderson, NV. In connection with these transactions, HOR Holdings LLC (HOR Holdings) is expected to acquire (the Henderson Acquisition) all of the membership interests of Henderson Organic. \n\n \n \n\n \nThe completion of the Henderson Acquisition and the exercise of the Warrant (which is intended to be satisfied by the issuance of the Henderson Option to GGB) are expected to occur in the first half of 2019 and remain subject to state and municipal regulatory approval and customary conditions of closing. The proposed transactions have been structured to comply with both local and state laws and GGB anticipates exercising the Henderson Option immediately following the later of (i) a change in applicable laws and (ii) the completion of the Henderson Acquisition.  The Loan, which was issued on December 13, 2018 to certain members of Henderson Organic, has a maturity date of May 4, 2019, bears interest at...