Green Growth Brands has announced this morning that their company has debuted on the Canadian Securities Exchange (CSE) under the ticker symbol “GGB.” The company is financially backed by the Schottenstein family and ran by Peter Horvath. The company is currently trading around $4.00 per share.
Mr. Horvath is responsible for building some of the most recognized brands in the world such as Victoria Secret, American Eagle Outfitters, Bath & Body Works, and DSW (Designer Shoe Warehouse).
Recently, Green Growth Brands had completed a private placement worth C$85 million dollars by selling 12 cent convertible unsecured loan certificates at a price of C$1,000 per units. The company plans to develop a number of different product brands involved in the distribution of CBD & THC products.
Over the past few months Green Growth Brands has completed a number of transactions including:
- On July 27, 2018, Green Growth Brands Ltd. announced a business combination with Xanthic Biopharma Inc., developer of a proprietary process to make THC and CBD, the two key active ingredients in cannabis, water soluble.
- On September 4, 2018, GGB completed the acquisition of Nevada Organic Remedies, a medical and retail marijuana company based in Las Vegas.
- On November 5, 2018, GGB announced a subsequent equity raise of C$55 million, to bring total funds raised to over C$140 million.
Peter Horvath, CEO of GGB, stated, “Our team has run multi-billion dollar businesses, operating as number ones in their respective categories, competing for customers in saturated mature markets. We’re eager to do it again in the burgeoning North American cannabis industry.”