Green Hygienics Holdings Inc. Announces Letter of Intent for Acquisition of Coastal Labs
SAN DIEGO, April 16, 2019 (GLOBE NEWSWIRE) — via NetworkWire — Green Hygienics Holdings Inc. (GRYN) (“GRYN” or the “Company”), an innovative, full-scope, science-driven, premium cannabis cultivation and branding enterprise, is pleased to announce it has entered into a Letter of Intent for the acquisition of Coastal Labs.
Las Vegas, Nevada-based Coastal Labs was founded by Kavan Thanasith and Travis Chrisman with the intention of providing raw CBD products to CBD merchants under the Coastal Pay umbrella. Founded in 2014, Coastal Pay was recognized in 2017 by San Diego Business Journal as one of the Top 100 fastest growing private companies. Coastal Pay, a leading processor in the CBD industry with the ability to provide long desired solutions, has created and continues to create strategic partnerships and opportunities advantageous to Coastal Labs.
Coastal Labs focuses on marketing and building the book of business while leveraging other laboratories through various strategic partnerships to fulfill orders. In doing so, the company’s network is one of the strongest in the industry with access to the best talent nationwide in order to create the highest quality products.
Coastal Labs has generated various revenue sources by expanding its network throughout different sectors of the industry with a focus on sales of seeds, hemp and lab equipment. The company initially began sales in CBD isolate production when there was an extreme shortage in the marketplace. From there, the company formed partnerships and relationships with the best isolate producers and extractors and has since expanded sales into THC-free distillate production.
With this acquisition of Coastal Labs, Green Hygienics will be adding one of the premier labs in North America to its Brand Portfolio. The company will continue on its stated path of making strategic acquisitions that can be vertically integrated into overall operations and create extraordinary value for shareholders.
About Green Hygienics
Green Hygienics Holdings Inc. (GRYN) is a full-scope, premium cannabis company targeting the high-end medical and adult-use recreational markets. With more than 25 years of experience in agricultural science and innovation, Green Hygienics is establishing itself as a leader in the advancement of science-driven cannabis cultivation systems. The company business model includes; generating revenues from the cultivation and sales of premium grade cannabis products, developing and licensing valuable IP, creating trusted global consumer brands, and making strategic acquisitions.