Green Growth Brands (CSE: GGB) made it’s trading debut on the Canadian Securities Exchange (CSE) today under the symbol “GGB” after successfully completing their merger with Xanthic Biopharma. The highly anticipated listing on the exchange signifies the completion of a reverse takeover (RTO) announced by the two companies back in July 2018.
Xanthic shareholders approved of the business merger, a name change, as well as amending a variety of company articles to create a new class of voting shares. The combined entity is led by CEO Peter Horvath, a well-known executive in the retail space whose experience includes working with companies such as Victoria’s Secret, American Eagle Outfitters, and Limited Brands.
“Our listing on the Canadian Securities Exchange represents a significant milestone in the journey of building Green Growth Brands. The transition to a publicly-traded company will benefit our current investors, give new investors a chance to join us and provide the Company with the currency to facilitate our aggressive growth plan,” said Horvath. “Our team has run multi-billion-dollar businesses, operating as number ones in their respective categories, competing for customers in sadturated mature markets. We’re eager to do it again in the burgeoning North American cannabis industry.”
Green Growth Brands has focused on creating a series of health and beauty products infused with cannabidiol( CBD). Back in July, the company made headlines when it announced a reverse takeover with Xanthic Biopharma Inc., a company whose claim to fame in the industry includes developing a process of making key cannabis ingredients (CBD, THC, etc.) water soluble.
Since then, Green Growth Brands has made headlines a number of times, including the acquisition of Nevada Organic Remedies in September, while also seeking approval for up to eight additional facilities in Nevada that would make it among the largest retail presences in the state.
“We are focused on North American expansion and in preparation we visited 100 of the best cannabis stores in the market,” added Horvath. “While many in our industry talk about national brands, our research has found that only a small percentage of consumers actually trust those brands. What they do want is localization and authenticity, and that is what we’ll deliver, as we build our stores and complete deals with large retail partners.”
Back in September, GGB announced a financing round that raised over $86 million, with another successful attempt to raise funds bringing in $55 million in November. This brings total funding secured to over $140 million, and in both cases, attracting top-tier strategic investors to contribute to the project.
With funding in hand alongside a listing on the CSE, the company’s strategy over the next 12 months includes an aggressive plan to expand its retail and wholesaler cannabis business’s through strategic partnerships and mergers in U.S. states that have legalized medical and recreational cannabis usage.
Green Growth Bands Company Profile
Green Growth Brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by renowned retailer Peter Horvath, the GGB team is full of retail renegades with decades of experience building successful brands. – Green Growth Brands