The Company has already made two acquisitions so far this year, which included the assets of Primordia to expand its cultivation division (http://bit.ly/grynPrimordia), and Castillo Seeds to fast-track the launch of its genetics division (http://bit.ly/grynCastilloSeed). The acquisition of American Hemp and Diablo launches the Company’s smokables division, which will provide tobacco and nicotine-free alternatives to traditional cigarettes in efforts to help consumers reduce the adverse health effects and premature deaths associated with tobacco use. According to the CDC, the single largest cause of preventable disease and death is smoking, with nearly half a million Americans dying prematurely from tobacco use each year. Additionally, another 16 million Americans suffer from at least one serious disease caused by smoking (https://bit.ly/3uYRTqo).
“The two CBD cigarette brands, American Hemp and Diablo (http://bit.ly/grynhemp1), are extremely well packaged, and the acquisition includes $21.5M worth of inventory at MSRP that we are purchasing at a considerable discount to market,” said Green Hygienics COO Kyle MacKinnon. “We plan to use this acquisition to launch the Company’s smokables division and add our Sol Valley Ranch Natural and Sol Valley Ranch Blond premium CBD cigarette brands to the portfolio.
“Again, finished products present an opportunity to create far more revenue for the Company,” MacKinnon said. “British American Tobacco (BAT) recently acquired a 19.9% stake in Organigram. We believe big tobacco companies have a keen interest in the hemp cigarette industry. Our farm is 824 acres, has clean soil reports and USDA Organic Certification, and therefore is one of few that can provide a reliable supply chain solution to facilitate its potential entry into the market.”
About Green Hygienics Holdings
Green Hygienic Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is a California-based innovative, technology-driven enterprise focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids.
The Company’s corporate mission is to adhere to the highest standards of operations in consistently delivering safe, premium-quality products to consumers as well as to partner with CPG (consumer packaged goods) and pharmaceutical companies.
The Company intends to be a leader in compliances and capabilities in the hemp and cannabinoid supply marketplace. Using state-of-the-art technologies, Green Hygienics intends to open a whole new world of novel cannabinoids and targeted bio-delivery technologies never before explored, solving the issues of stability, pharmacokinetics, biological tissue penetration and bioavailability.
Hygienics is the science of preserving and promoting the health of individuals, communities and the planet.
For further information about Green Hygienics Holdings Inc., please visit the Company’s website at www.greenhygienics.com.
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This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
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Link to the press release: https://www.investorwire.com/press-releases/green-hygienics-holdings-inc-gryn-closes-on-acquisition-of-two-cbd-cigarette-brands/