Cannabis retailer Green Growth inks first equity raise

大麻零售商Green Growth完成首次股权融资5020万加元,推动业务扩张

2019-08-23 14:03:00 mjbizdaily


Ohio-based Green Growth Brands, which last month agreed to buy a multistate operator that sells both medical and recreational marijuana, completed an initial equity raise for 50.2 million Canadian dollars . Green Growth said in a statement that the raise is intended to fuel expansion, much like the company’s $310 million purchase in July of Moxie. Moxie, based in Long Beach, California, has 250 retail outlets and dispensaries in five states. Green Growth plans to combine the CA$50 million with a CA$102.7 million backstop commitment on Aug. 14 from a family of majority shareholders, the Schottenstein family, owner of some of America’s largest fashion retailers. Green Growth will use the proceeds of the raise toward funding: The balance of the cash purchase price for the acquisition of Nevada Organic Remedies. The cash portion of the purchase price to complete the acquisition of Henderson Organic Remedies. The deferred cash compensation and other fees for the acquisition of Spring Oaks Greenhouses. Ongoing capital expenditures and general corporate purposes. The raise was completed by underwriters led by Canaccord Genuity Corp. and including Eight Capital, Cormark Securities, GMP Securities, Paradigm Capital, Beacon Securities and Haywood Securities. Green Growth, which sells topicals and personal-care items, trades on the Canadian Securities Exchange as GGB and on U.S. over-the-counter markets as GGBXF.
总部位于俄亥俄州的绿色增长品牌( Green Growth Brands )上月同意收购一家销售医疗和娱乐大麻的多州运营商,完成了首次股权融资,融资金额为5,020万加元。 Green Growth在一份声明中表示,此次加薪意在推动公司扩张,就像该公司7月份斥资3.1亿新元收购Moxie一样。Moxie总部位于加州长滩,在五个州拥有250家零售店和药房。 绿色增长计划在8月14日将5000万加元与1.027亿加元的担保承诺结合起来,由美国一些最大时尚零售商的所有者、大股东的家族 Schottenstein 家族做出。 绿色增长将利用募集资金进行融资: 现金收购价格余额用于收购内华达州有机药品。 现金部分以收购价格完成对恒基有机偏方的收购。 收购Spring Oaks温室的延期现金补偿及其他费用。 持续资本支出和一般公司用途。 此次募集由 Canaccord Genuity Corp .牵头的承销商完成,包括8Capital 、 Cormark Securities 、 GMP Securities 、 Paradigm Capital 、 Beacon Securities 和 Haywood Securities 。 Green Growth 在加拿大证券交易所( Canadian Securities Exchange )和美国场外交易市场( GGBXF )进行交易。