Business
Livewire Signs Agreement to Acquire Majority Equity Stake in Los Angeles Cannabis Direct-to-Consumer Delivery Company Green Eagle and Establishes Sales Channel for the “Estrella Weedery” Brand
Livewire Signs Agreement to Acquire Majority Equity Stake in Los Angeles Cannabis Direct-to-Consumer Delivery Company Green Eagle and Establishes Sales Channel for the “Estrella Weedery” Brand.
About this update from Livewire Ergogenics, Inc.
[{"type":"text","content":"\n Anaheim, CA, March 07, 2023 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special purpose real estate properties and operations conducive to producing high-quality, handcrafted, and organically grown specialty cannabis products for medical and recreational adult-use in California, today announces that has entered into an agreement to acquire a majority equity stake in the Green Eagle Cannabis Delivery company in Los Angeles, California. Bill Hodson, CEO of LiveWire, states, \"We have been closely monitoring Green Eagles' business plan implementation from its inception several years ago and throughout the complicated and lengthy permitting process with the city of Los Angeles. With permits now issued and operations commenced, Green Eagle is in an ideal position to fill an existing vacuum for direct-to-customer delivery in Los Angeles and the entire LA County. Accordingly, we expect the company to generate significant revenue already during the second quarter of 2023. This acquisition establishes a dependable direct-to-consumer sales channel for our “Estrella Weedery” brand. The final execution of the Agreement is subject to Green Eagle meeting specific financial milestones and other conditions to be met. We expect that the conditions for execution of the final agreement will be met quickly, and the entire process to be finalized by the end of Q2 2023. We look forward to integrating Green Eagle into our family of Livewire companies and brands.” GREEN EAGLE DELIVERY is a new brand of direct-to-consumer cannabis distribution and delivery company. It has obtained a cannabis delivery service license from the City of Los Angeles and the State of California. It will immediately commence with delivery services covering the cities of Los Angeles, Pasadena, and Glendale and eventually service the entire Los Angeles County, the largest cannabis market in the United States. Green Eagle offers a wide range of lab-tested cannabis products, such as vapes, pre-rolls, edibles, and concentrates, delivered directly to the customer’s home or office with payments accepted via cash or credit cards. Green Eagle will deliver products from most leading cannabis brands in California and will put a special spotlight on our exceptional R...