Financials & Filings
Listen to the 3rd Quarter Fiscal 2019 earnings call with the Green Growth Brands leadership team.
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American Eagle collaboration connects Green Growth Brands with leading global specialty retailer
COLUMBUS, OH, July 11, 2019 /CNW/ - Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) (GGB) today announced it has received a purchase order from American Eagle Outfitters, Inc. (NYSE: AEO) through which it will sell hemp-derived cannabidiol (CBD) infused personal care products in nearly 500 of its American Eagle (AE) stores and online.
- Moxie has developed award-winning brands and a loyal customer base by producing high-quality and consistent cannabis concentrates and related products across multiple markets
- Moxie has a current cash balance of ~US$39 million, allowing it to fund its business plan
- On closing, the combination will bring together two best‐in‐class cannabis operators and create a superior coast‐to‐coast cannabis player, with immediate access to nine key states including California, Florida, Nevada and Massachusetts, and up to 16 states total including Moxie’s expansion potential (and not including GGB’s CBD kiosk locations)
- Potential to create unparalleled vertical distribution network across the U.S. by combining GGB’s expected 200+ CBD mall-based shop locations and Moxie’s 250+ retail dispensary partner network
- Multiple potential revenue and cost synergy opportunities exist, including leveraging Moxie’s relationships wholesaling to MSOs, supply chain efficiencies and cost rationalization
- All equity interest offer allows shareholders of both entities to participate in the potential future growth and upside of the combined company
- GGB will undertake a reorganization whereby it creates a new limited partnership to hold its existing assets and the acquired assets
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