SEATTLE, WA / ACCESSWIRE / February 24, 2020 / GRN Holding Corporation (OTC Pink:GRNF, the “Company”), announced today that the Company has completed its due diligence in connection with the acquisition of Soulshine Development Group, Inc.
Under the terms of the agreement, GRN Holding Corporation is acquiring all Soulshine Development Group assets, inventory, licenses, and intellectual property, as well as 51% of equity in the business.
Soulshine Development Group, Inc. is a holding company located in Renton, Washington, with assets including brands, inventory, intellectual property, leases, and asset management. Soulshine Development Group’s brand assets feature unique packaging that is sustainably sourced, biodegradable, and compostable. Its facility has 86,888 square feet of space. Soulshine anticipates being a fully-automated supplier by 2021 and has already implemented weighing systems automation for its raw product, its sorting systems, and its pre-roll division.
Soulshine is a socially-responsible company that gives 1% of gross sales to the Emerald City Rescue, a Seattle-based pet rescue and animal welfare group that fosters pet adoption, and activism that supports conservation, animal welfare, anti-poaching, and efforts to prevent animal extinction.
“We are extremely pleased to bring a forward-thinking company into the GRN family that is highly-focused on sustainability measures while also focusing on the importance of such a charitable cause,” said GRN Holding CEO Justin Costello.
About GRN Holding Corporation
GRN Holding Corporation (OTC Pink:GRNF) is a Nevada registered publicly-traded company.
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: GRN Holding Corporation
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