SAN DIEGO, Aug. 26, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Green Hygienics Holdings Inc. (GRYN) (“GRYN" or the “Company"), an innovative, full-scope, science-driven premium hemp cultivation and branding enterprise, today announces the completion of its previously announced acquisition of the 824-acre Potrero Ranch Property near San Diego, California. The Company will utilize the land and buildings for industrial hemp for CBD cultivation. This is an extraordinary real property asset, that will positively impact the Company’s Balance Sheet.
The land area is flat, arable and sheltered by surrounding mountains. The abundant water supply, type and pH of the soil, as well as the altitude of the property are all ideal for industrial hemp for CBD cultivation and an application for USDA Organic certification.
Additionally, over 400,000 square feet of outbuildings are included that Green Hygienics has already begun converting into greenhouses. This is a significant amount of cultivation space and ideally suited for this endeavor in that it will allow the company to achieve multiple harvests on the same property that would otherwise not be achievable.
Ron Loudoun, Chief Executive Officer, stated, “We have been working at the property under a lease agreement for the last two months purchasing equipment and preparing to begin cultivation immediately. The combination of the greenhouse space and acreage will create the capability to produce significant revenues for Green Hygienics.”
About Green Hygienics Holdings Inc.
Green Hygienics Holdings Inc. (GRYN) (“GRYN" or the “Company") is an innovative, full-scope, science-driven, premium hemp cultivation and branding enterprise focused on the cultivation and processing of industrial hemp for cannabidiol (“CBD”). The Hemp Farming Act of 2018 removed hemp from Schedule I controlled substances (defined as cannabis with less than 0.3% THC) making it an ordinary agricultural commodity.
The Company’s business model includes generating revenues from the sale of hemp and premium-grade CBD products; creating trusted global consumer brands; developing valuable IP; and growing the company rapidly through strategic acquisitions. With direct regard to acquisitions, the Company acts as a business accelerator and a vertical integrator focusing to support rapid growth and development of companies with extraordinary potential.
For more information, visit: www.GreenHygienicsHoldings.com
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