NASDAQ SPAC Greenrose to List on the OTC After Buying 4 Cannabis… – New Cannabis Ventures

Greenrose Acquisition Corp. to Acquire Four Cannabis Companies, Creating a Vertically Integrated and Cash Flow Positive Platform Positioned for Significant Growth Transaction to Publicly List a Platform of Cannabis Operators Across Limited License Medical Markets, Newly Approved Recreational Markets and Established, but Highly Fragmented Recreational Markets Where Consolidation Opportunities Exist Total Initial Transaction Value of $210 Million, Maximum Earnout of $110 Million Platform to Have Operations in Seven States, Including Nine Dispensaries and Over 300,000 ft² of Cultivation Producing Approximately 120,000 lbs. of Flower per Year Pro Forma 2021 Revenue and Adjusted EBITDA Guidance of $158 Million and $56 Million, Respectively Greenrose Intends to Raise $150 Million in a Private Placement Consisting of a Mixture of Common Stock and Debt

AMITYVILLE, N.Y., March 15, 2021 (GLOBE NEWSWIRE) — Greenrose Acquisition Corp. (NASDAQ: GNRSU, GNRS, GNRSW) (Greenrose), a special purpose acquisition company targeting companies in the cannabis industry, has entered into definitive agreements to acquire four cannabis companies (The Platform). The companies are Shango Holdings Inc. (Shango), Futureworks LLC (d/b/a The Health Center), Theraplant, LLC, and True Harvest, LLC.

Prior to closing the transaction, Greenrose will be renamed The Greenrose Holding Company Inc. and is expected to transition its listing from the Nasdaq Capital Market to the OTCQX® Best Market. Additionally, Greenrose intends to list on the NEO exchange after the close of the transaction.

Platform Overview by State

Greenrose Investment Highlights

Establishes a Footprint in High Growth Limited License Markets. Through these acquisitions, Greenrose will establish itself in highly profitable, high growth limited license markets such as Arizona, Nevada and the medical market of Connecticut. Vertically Integrated Operations in Established Recreational Markets. In the established markets of Colorado, Oregon and California, Greenrose will pursue a high risk adjusted return

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