Green Growth Brands Solidifies Nevada Market Position with Award of Seven Additional Cannabis Licenses
Nevada dispensary footprint to be raised to eight
COLUMBUS, Dec. 6, 2018 /PRNewswire/ – Xanthic Biopharma, Inc. d/b/a Green Growth Brands (CSE: GGB) (GGB or the Company) today announced that the Nevada Department of Taxation had awarded it seven retail cannabis dispensary licenses to operate in the state. Through this expansion, GGB has positioned itself to become one of the largest cannabis operators in Nevada.
Our presence in Nevada has been strategic from the start. With 3 million residents and 42 million annual visitors this is a market like no other, which is why we chose Nevada as the first state where we will present the full expression of our brands, products and services. At maturity, we see Nevada as a consumer market that represents USD$150 to $250 million in revenue potential to GGB with ten or more dispensaries across multiple brand formats.
Peter Horvath, CEO
“We continue to be impressed with the regulatory process in Nevada and feel that these new licenses reflect the confidence officials have in Green Growth Brands and our ability to operate high quality and compliant dispensaries,” continued Horvath.
“With the award of seven licenses yesterday, we are accelerating our timeline to realize the full market potential in Nevada. It goes without saying that this degree of organic growth (license awards versus Merger and Acquisition activity) enhances our financial models for achieving growth in both revenue and shareholder value,” shared Horvath.
GGB currently operates the premier Cannabis store, The+Source, in Las Vegas, NV and a grow and production facility in Post, NV.
About Green Growth Brands
Green Growth brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by