ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
0.025
0.00
(0.00%)
Closed June 21 4:00PM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
0.025
Bid
0.045
Ask
0.095
Volume
-
0.00 Day's Range 0.00
0.00 52 Week Range 0.00
Previous Close
0.025
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
-
Financial Volume
-
VWAP
-

GGB Latest News

No news to show yet.
PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40000000CS
120000000CS
260000000CS
520000000CS
1560000000CS
260-3.125-99.20634920633.153.40.017310320.62067254CS

Market Movers

View all
  • Most Active
  • % Gainers
  • % Losers
SymbolPriceVol.
GRDIGRIID Infrastructure Inc
$ 1.11
(98.21%)
155.65M
ZAPPZapp Electric Vehicles Group Ltd
$ 2.33
(71.32%)
91.49M
MGOLMGO Global Inc
$ 0.725
(58.16%)
160.27M
RELIReliance Global Group Inc
$ 0.61
(55.97%)
139.38M
HAOHaoxi Health Technology Ltd
$ 6.36
(38.26%)
693.26k
WHLRWheeler Real Estate Investment Trust Inc
$ 2.75
(-82.51%)
164.01k
KAVLKaival Brands Innovations Group Inc
$ 2.90
(-35.56%)
1.31M
MBIOMustang Bio Inc
$ 0.5605
(-34.07%)
38.18M
SONNSonnet BioTherapeutics Holdings Inc
$ 1.04
(-32.03%)
432.19k
NKLANikola Corporation
$ 0.3279
(-31.82%)
269.83M
NVDANVIDIA Corporation
$ 130.78
(-3.54%)
518.09M
NKLANikola Corporation
$ 0.3279
(-31.82%)
269.83M
SMXSMX Security Matters Public Company
$ 0.16
(34.45%)
177.78M
SQQQProShares UltraPro Short QQQ
$ 8.32
(2.46%)
166.97M
MGOLMGO Global Inc
$ 0.725
(58.16%)
160.27M

GGB Discussion

View Posts
CDUB27 CDUB27 2 years ago
Is Green Growth still in the skin product business?
👍️0
CDUB27 CDUB27 2 years ago
etrade updated it at 12:01am 5/02, This company is not in business but the stock is. going up 2000% -20000% when the market was closed. Also daily gain & volume is at 0.00. Strange how does this happen, someone at etrade messing w/ #'s? I put in a sell order but I dout it will go through.
👍️0
CDUB27 CDUB27 2 years ago
was just looking at etrade & it shows GGBXF at 0.50 today & on 3/26 it was 2.99 but bid & ask are 0.00.
👍️0
Estrella Estrella 3 years ago
$GGBXF @ .0079!
👍️0
Moose412 Moose412 3 years ago
Just came on my radar yesterday bc vol.

How is this pink current after over a year of silence, and where is the proof that the company has ceased operations? Looks like a good day to buy...but then the chart shows a terrifying tale, doesn't it?

Not buying. Broken website, among other red flags.
👍️0
Hittman1 Hittman1 3 years ago
Are people really trading this after the company has supposedly ceased operations?
👍️0
uber darthium uber darthium 3 years ago
This company was a SCAM share promotion exactly as I said well over a year ago. Sorry for everyone that took the loss.

GGBXF SCAM
👍️0
willlbone willlbone 3 years ago
Company calls it quits today.
👍️0
Ringosstar Ringosstar 3 years ago
Is this thing alive?
👍️0
dopo dopo 3 years ago
Can anyone please provide an update on this crazy company that has duped so many? Do they still have any assets or is it a dormant shell looking for new owners? How was Horvath able to get another job?
👍️0
misteroldman misteroldman 3 years ago
I called the NV locations and there is a new reno location. they said green growth is not their parent company anymore and they didnt know who is. sounds like management also has no idea about the court ccaa extension etc. but they just opened up a new location in NV in the past month or so?

so what gives... did green growth maintain its medical and recreational thc hybrids side just not the cbd side of things?

this stories rabbit hole keeps getting longer

👍️0
bucki bucki 3 years ago
This stock is not dead. The company is re-branding itself and will continue to show signs of strength.
👍️0
misteroldman misteroldman 3 years ago
there is much more going on behind the scenes right now. Big investor on cnbc the other day publicly said he is buying this as one of his cannabis companies. the other two were tilray and cgc... so why was this one grouped into it... I knew it was bk so i looked into it a bit more after that... then as proper time passed for disclosing his next move, boom we see big spike in volume and sp benefited from that with the little retailers fallowing the pop. jmho glta makes you wonder...
👍️0
HDSS113 HDSS113 3 years ago
wants to bust out.
👍️0
ignatiusrielly35 ignatiusrielly35 3 years ago
For some reason the market liked this news.
👍️0
edzon edzon 3 years ago
Green Growth Brands Provides CCAA and Other Updates
10:05 pm ET December 18, 2020 (Globe Newswire) Print
Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) ("GGB" or the "Company") and certain of its direct and indirect wholly owned subsidiaries (collectively, the "Applicants") today provided an update on their insolvency proceedings under the Companies' Creditors Arrangement Act (Canada) ("CCAA").

As previously announced, the Applicants sought and were initially granted protection under the CCAA by the Ontario Superior Court of Justice (the "Court") on May 20, 2020.

On December 18, 2020, the Court granted two orders that, among other things, (a) approved an amendment dated December 17, 2020 (the "DIP Amendment") to the debtor-in-possession term sheet between the Company and All Js Greenspace LLC ("All Js") dated May 19, 2020, as amended; and (b) extended the stay of proceedings under the CCAA until and including March 26, 2021.

A copy of the orders issued and entered by the Court, the DIP Amendment, and other Court materials and information related to the Applicants' CCAA proceedings, all as may be updated or amended from time to time, are available on the website maintained by Ernst & Young Inc., in its capacity as the Court-appointed monitor ("Monitor") of the Applicants, at www.ey.com/ca/ggbi. All inquiries about the CCAA proceedings should be directed to the Monitor. The Applicants intend to provide further updates on the CCAA proceedings when there are significant developments.

Approval of Transfer of Florida License

The Company previously announced the expiry of the forbearance period pursuant to the terms of the forbearance agreement with Green Ops Group LLC ("Green Ops") and the subsequent commencement by Green Ops of the approval process from the State of Florida to transfer the cannabis license held by Spring Oaks Greenhouses, Inc. The transfer of the cannabis license to Green Ops was approved by the State of Florida on December 15, 2020.

Approval of Transfer of Nevada Licenses

The Company also announces today that it has received approval from the Cannabis Compliance Board ("CCB") in Nevada to transfer the licenses held by the Nevada Organic Remedies LLC, Henderson Organic Remedies LLC, and Wellness Orchards of Nevada LLC as part of its previously announced and approved stalking-horse agreement among the Company, All Js and Capital Transfer Agency, ULC in its capacity as the debentureholder trustee of the Company's (A) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (B) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024. The CCB's approval is subject to payment by GGB of an agreed-upon penalty related to GGB's creation and insertion of certain intermediary entities prior to formal approval by Nevada regulators.

About Green Growth Brands Inc.

Green Growth Brands maintains licenses for cannabis operations in Nevada, Massachusetts, and Florida. Its brands include CAMP, The+Source and 8Fold.

Cautionary Statements

Forward Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend", "forecast" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading "Risks Factors" in (i) the Company's Annual Information Form dated November 26, 2018 which is available on the Company's issuer profile on SEDAR and (ii) the Company's Short Form Prospectus dated August 15, 2019.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release are made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

US Securities Law Disclaimer

This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

For investor relations inquiries, please contact:

Kent Kiffner

General Counsel

Green Growth Brands Inc.

kkiffner@greengrowthbrands.com

https://ml.globenewswire.com/media/3d71dc00-4f99-4421-abcd-18c3750ca99b/small/green-png.png

https://ml.globenewswire.com/media/3d71dc00-4f99-4421-abcd-18c3750ca99b/small/green-png.png
👍️0
sav79 sav79 4 years ago
Guys should follow Horvath to his next scam. I’m sure it’ll do swimmingly.
👍️0
AskMuncher AskMuncher 4 years ago
$GGBXF Green Growth Brands Provides CCAA and Other Updates
Press Release | 08/14/2020
COLUMBUS, Ohio, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) (“GGB” or the “Company”) and certain of its direct and indirect wholly owned subsidiaries (collectively, the “Applicants”) today provided an update on their insolvency proceedings under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”).

As previously announced, the Applicants sought and were granted protection under the CCAA by the Ontario Superior Court of Justice (the “Court”) on May 20, 2020. On June 2, 2020, the Court granted certain additional relief, including an order that, among other things: (a) approved the implementation of a sale and investment solicitation process (the “SISP”); and (b) approved a stalking-horse agreement made as of May 19, 2020 (the “Stalking Horse Agreement”) between the Company, All Js Greenspace LLC (“All Js”) and Capital Transfer Agency, ULC in its capacity as the debentureholder trustee of the Company’s (i) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (ii) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024 (All Js and Capital Transfer Agency, ULC in such capacities are collectively referred to as the “Purchaser”) pursuant to which the Purchaser would act as the stalking-horse bidder under the SISP.

The SISP did not result in a Superior Offer (as that term is defined in the SISP). As such, and in accordance with the terms of the SISP, Ernst & Young Inc., in its capacity as the Court-appointed monitor of the Applicants (“Monitor”), recommended that the SISP be terminated. The Company issued a press release to this effect on July 22, 2020.

On August 13, 2020, the Court granted two orders that, among other things, (a) approved the sale transaction (the “Transaction”) contemplated by the Stalking Horse Agreement, as amended and restated by the Amended and Restated Acquisition Agreement dated August 10, 2020 (the “Amended and Restated Stalking Horse Agreement”) between the Company and the Purchaser; (b) approved the vesting in an entity to be incorporated all of the Company’s right, title and interest in and to all of the Purchased Assets (as that term is defined in the Amended and Restated Stalking Horse Agreement), which include all of the shares of GGB Canada Inc., all of the shares of Xanthic Biopharma Limited, certain intercompany indebtedness and certain books and records; (c) approved an amendment dated August 10, 2020 (the “DIP Amendment”) to the debtor-in-possession term sheet between the Company and All Js dated May 19, 2020; and (d) extended the stay of proceedings ("Stay") under the CCAA until and including December 18, 2020.

The Transaction is structured as a credit bid. The Monitor estimates that the approximate aggregate purchase price pursuant to the Amended and Restated Stalking Horse Agreement is US$106,388,429.

The Transaction remains subject to the satisfaction of certain conditions to closing, some of which remain outstanding and include the transfer of certain cannabis licenses.

A copy of the orders issued and entered by the Court, the Amended and Restated Stalking Horse Agreement, the DIP Amendment, and other Court materials and information related to the Applicants’ CCAA proceedings, all as may be updated or amended from time to time, are available on the website maintained by the Monitor at www.ey.com/ca/ggbi. The Applicants intend to provide further updates on the CCAA proceedings when there are significant developments.

Settlement of Nevada License Dispute

The Company also announced that on July 29, 2020, its subsidiary, Nevada Organic Remedies LLC (“NOR”), reached a partial settlement (the “Settlement”) regarding the previously disclosed Nevada cannabis license litigation (the “License Litigation”). The License Litigation challenged, among other things, the manner and method by which the state of Nevada’s Department of Taxation reviewed and awarded applications for conditional retail cannabis dispensary licenses (the “Conditional Licenses”). NOR received seven Conditional Licenses pursuant to the application process in December 2018 but was prevented from receiving final approval pursuant to an August 2019 preliminary injunction (the “Preliminary Injunction”). Under the terms of the Settlement, NOR and the other successful applicants have agreed to assign certain licenses to the unsuccessful parties in exchange for, among other things, dismissal with prejudice of the relevant actions brought by the settling plaintiffs, removal of NOR and the other settling defendant-intervenors from the scope of the Preliminary Injunction and expedited inspection and approval for dispensary locations. On August 7, 2020, the Cannabis Compliance Board of the state of Nevada approved the Settlement. The Settlement will allow NOR to expedite the opening of its Reno location, and will allow for the future opening of dispensary locations in the City of Las Vegas, the City of North Las Vegas, the city of Henderson and Nye County.

Cease Trade Order

The Company further announced that a cease trade order was issued by the Ontario Securities Commission on July 29, 2020 as a result of the Company's failure to file its interim financial statements for the three months ended March 31, 2020, including the related management discussion and analysis and interim filing certifications. In connection with the cease trade order, the Canadian Securities Exchange suspended trading of the Company's shares effective July 30, 2020.

About Green Growth Brands Inc.

Green Growth Brands maintains licenses for cannabis operations in Nevada, Massachusetts, and Florida. Its brands include CAMP, The+Source and 8Fold . Learn more about the vision at GreenGrowthBrands.com.

Cautionary Statements

Forward Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in (i) the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR and (ii) the Company’s Short Form Prospectus dated August 15, 2019.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release, including the successful completion of the Transaction and the realization of the expected benefits of the Settlement, are made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

US Securities Law Disclaimer

This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act“) or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.
👍️0
AskMuncher AskMuncher 4 years ago
$GGBXF Green Growth Brands Announces Leadership Change
Press Release | 06/12/2020
COLUMBUS, Ohio, June 12, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) ("GGB" or the "Company") announced today that Brian Logan is stepping down as Chief Financial Officer, effective July 15, 2020. Mr. Logan has served as Chief Financial Officer of the Company since January 2019.

Randy Whitaker, GGB’s Interim Chief Executive Officer, commented, “On behalf of GGB, I want to thank Brian for his many and significant contributions during his tenure as CFO of the Company. I wish him the best of luck in his future endeavours.”

The Company’s senior accounting employees will assume Mr. Logan’s duties following his departure and will report directly to interim Chief Executive Officer Randy Whitaker while the Company continues with its previously announced sale and investment solicitation process as part of ongoing insolvency proceedings under the Companies’ Creditors Arrangement Act (Canada).

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is continuing its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. Learn more about the vision at GreenGrowthBrands.com.

For investor relations inquiries, please contact:

Randy Whitaker
Chief Executive Officer
Green Growth Brands Inc.
rwhitaker@greengrowthbrands.com

👍️0
BillionBux BillionBux 4 years ago
I don’t believe so.
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
Good question. I’ve wondered the same. Is the CBD under a different corporation than the MJ?
👍️0
BillionBux BillionBux 4 years ago
Does anyone know if the assets mentioned in this article were ever rolled into GGBXF? If so, just the one license mentioned at the time of this writing is $26m.

Surely there is a buyer for all the licenses in the GGBXF portfolio.

Schottenstein’s are likely trying to get the assets for penny’s on the dollar. If that happens, I expect there are lawyers waiting in the background to file a class action lawsuit against them for all kinds of things.

https://thedeepdive.ca/liberty-health-sciences-sells-florida-greenhouse-and-ohio-assets-for-14-75m/

👍️0
AskMuncher AskMuncher 4 years ago
$GGBXF Green Growth Brands Announces Expiration of Forbearance Agreement Related to Spring Oaks Greenhouses, Inc.
Press Release | 06/26/2020
COLUMBUS, Ohio, June 26, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) ("GGB" or the "Company") announced today the expiry of the forbearance period (“Forbearance Period”) pursuant to the terms of the forbearance agreement (the “Forbearance Agreement”) with Green Ops Group LLC (“Green Ops”) previously announced on May 20, 2020. The expiration of the Forbearance Period entitles Green Ops to exercise any and all of its rights under the loan documents and applicable law, and GGB is precluded from contesting any such enforcement action under a separate Voluntary Surrender of Collateral in Satisfaction of Debt and Release Agreement among the parties. The Company has also received a letter from legal counsel to Green Ops notifying the Company of the acceleration of all secured obligations of the Company under the Forbearance Agreement and that all guaranteed obligations of the Company owing to Green Ops are immediately due and payable in full. The Company has been notified that Green Ops intends to enforce its righs under such loan documents and applicable law through the seizure of collateral granted by the Company and the Grantors (as defined in the Forbearance Agreement).

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is continuing its cannabis operations throughout the U.S., via dispensaries in Nevada and Massachusetts. Learn more about the vision at GreenGrowthBrands.com.

For investor relations inquiries, please contact:

Randy Whitaker
Chief Executive Officer
Green Growth Brands Inc.
rwhitaker@greengrowthbrands.com
1-800-282-8462
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
I agree, it was not successful. I’m sure they assumed when they started the build out that they’d be able to raise additional working capital to allow revenue to catch up to the cost. That ability to raise capital basically disappeared, and it’s become a general problem in the entire sector.
👍️0
pedro12 pedro12 4 years ago
Spending millions for a project that is going to be your pride and joy and in the end being forced to sell it to retain only 20% of it because you ran out of money is hardly the definition of success.
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
A complete retail shut down for a fledgling retailer had no effect? They were about to offload the CBD business and retain 20% equity. That will not happen now. When they started planning the buildout process, working capital was readily available in the industry. In the second part of last year capital completely evaporated. Those were the main reasons for the current state of affairs.
👍️0
pedro12 pedro12 4 years ago
Covid 19 has nothing to do with the retail utter failure of this company. It was in complete disarray way before this virus showed up. This company under this management team simply made a number of poor, incalculated, reckless decisions. They overspent recklessly, made bad deals,choked their stock to insane dilution and had the Audacity to pay themselves handsomely while many of us got taken down for the ride. And it's not "the shorts" that are guilty, it's Horvath and Co who simply stupidly, recklessly over spent. They ran out of money
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
Yeah, but we are talking about two different things. The CBD retail shops were of course completely shut down throughout Covid right after they spent a large amount of money rolling them out. The dispensaries, I understand, remained open. Were they open in Vegas?
👍️0
CDUB27 CDUB27 4 years ago
that was a bad time to shutdown, the pandemic has been the busiest time ever for the dispensaries, lines around the building out to the freeway, curbside pickup & delivery off the hook. I live in Vegas but have never been to one of their dispensaries, I prefer Oasis.
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
You answered your own question. Yes, the CBD assets will be sold, which was the plan at the time that Covid started. So that interrupted process will now continue. Obviously they will net less due to being shut down for months during the crisis. They will try to restructure the debt. It’s not that complicated to grasp this.
👍️0
sav79 sav79 4 years ago
Lmao what assets? Debt far exceeds any “asset”’ they have.
👍️0
CDUB27 CDUB27 4 years ago
I bought a bunch @ .01... & tripled up by selling just over 1/2 my shares @ .043
I think people might be speculating another company will try to buy them out of bankruptcy. Those licenses are hard to get & resell for a ton$. High Times is trying to get in NV, although I have not seen any news about this it could definitely be going on behind the scenes.
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
Canada investigates a lousy .02 rise in a stock price? Sheesh.
👍️0
davidsson10 davidsson10 4 years ago
Green Growth Brands Addresses Recent Trading Activity

June 09, 2020 11:56 ET | Source: Green Growth Brands Inc.

COLUMBUS, Ohio, June 09, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (the “Company”) (CSE: GGB) (OTCQB: GGBXF) at the request of the Investment Industry Regulatory Organization of Canada (IIROC) on behalf of the Canadian Securities Exchange and in response to recent market activity, announces that it is not aware of any undisclosed material information related to the Company or its business that may be affecting the trading price and volume of the Company’s common shares.

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. Learn more about the vision at GreenGrowthBrands.com.
👍️0
Fat Thor Fat Thor 4 years ago
Thanks
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
Seems to be a delayed reaction to a report one week ago that the court approved a stalking horse agreement to solicit the sale of the retail CBD business assets.
👍️0
Fat Thor Fat Thor 4 years ago
Can't find out what happened in court...why is this running? TIA
👍️0
vinc vinc 4 years ago
It's a monster skyrocket...No dip here after a run of 209%!
👍️0
DarkPool DarkPool 4 years ago
Weeeeeeee.......
👍️0
JohnCM JohnCM 4 years ago
BUY!BUY!BUY!
👍️0
barnyarddog barnyarddog 4 years ago
Green Growth Brands Defaults On Debentures, Heads To Bankruptcy

7min

Green Growth Brands Inc. (OTCQB: GGBXF) had earlier this week announced that it had defaulted on its debentures due this month, now it is headed to the Canadian equivalent of bankruptcy. Green Growth said that has filed for insolvency protection under the Companies’ Creditors Arrangement Act (Canada) and obtained an order from the Ontario Superior Court of Justice granting the Applicants protection under the CCAA. Ernst & Young Inc. has consented to act as the Court-appointed monitor.

Green Growth said that the Court has granted CCAA protection for an initial 10 day period, subject to extension thereafter as the Court deems appropriate, which expires on May 29, 2020. While under CCAA protection, creditors and others are stayed from enforcing any rights against Green Growth
👍️0
ignatiusrielly35 ignatiusrielly35 4 years ago
Yes, I said that kiosks would be a big producer even though the malls are all closed due to Covid. You nailed it. Good job.
👍️0
sav79 sav79 4 years ago
Bankruptcy, lmao, didn't you say kiosks were gonna be a huge revenue producer?

Sub-penny from $3, lmao.
👍️0
JohnCM JohnCM 4 years ago
ONE PENNEY AND GGQ
👍️0
greenwillow greenwillow 4 years ago
On to the next one...

Go Peter!!!...haha

Let's see how long it take him to drive HT into the ground :)
👍️0
JohnCM JohnCM 4 years ago
WOW

GREEN GROWTH BRANDS

HAS FALLEN

ONLY TO ONE PENNY!!

AND NOW HIGH TIMES GETS TO HAVE HIM!!
👍️0
ALERTS100%to10000%GAIN ALERTS100%to10000%GAIN 4 years ago
Green Growth Brands Obtains Initial Order Under Companies' Creditors Arrangement Act
Press Release | 05/20/2020
COLUMBUS, Ohio, May 20, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) announced today that it and certain of its direct and indirect wholly owned subsidiaries (collectively "GGB", the "Company" or the “Applicants”) have filed for insolvency protection under the Companies’ Creditors Arrangement Act (Canada) ("CCAA") and obtained an order (the “Initial Order”) from the Ontario Superior Court of Justice (the “Court”) granting the Applicants protection under the CCAA. Ernst & Young Inc. (“E&Y”) has consented to act as the Court-appointed monitor (the “Monitor”) of the Applicants. The Court has granted CCAA protection for an initial 10 day period (the “Initial Period”), subject to extension thereafter as the Court deems appropriate, which expires on May 29, 2020. While under CCAA protection, creditors and others are stayed from enforcing any rights against the Applicants.

As previously disclosed, the continuing operations of the Company are dependent upon its ability to continue to raise adequate financing, to commence profitable operations, and to repay its liabilities arising from normal business operations as they become due. The CCAA filing was necessitated due to a severe liquidity crisis in the face of material matured and maturing debt, which liquidity crisis was further exacerbated by the negative impact of the COVID-19 pandemic. The pandemic has forced the Company to indefinitely suspend its cannabidiol business, ultimately resulting in the appointment of a receiver for that business and to restrict operations at the Company's The+Source dispensaries in the Las Vegas, Nevada region as a result of Nevada Governor Stephen Sisolak's March 20, 2020 order limiting dispensary operations in the state. After careful consideration of all other available alternatives, GGB’s board of directors determined that it is in the best interests of the Company and all its stakeholders to seek protection under the CCAA.

All Js Greenspace LLC (“All Js” or the “Lender”), one of GGB’s existing secured lenders, has agreed to fund the CCAA proceedings through a debtor-in-possession loan facility (the “DIP Agreement”) in the initial amount (the “Initial Amount”) of up to US$1 million. An additional $US6.2 million will be made available for borrowing under the DIP Agreement following the Initial Period upon Court approval (such approval, the “Amended and Restated Initial Order”) at a subsequent hearing (the “Comeback Hearing”) that would (i) extend the stay period; (ii) increase the amount of the DIP Lender’s Charge (as defined below); (iii) approve a sale and investment solicitation process (the “SISP”); and (iv) approve a stalking-horse agreement (the “Stalking Horse Agreement”) among the Company, All Js and Capital Transfer Agency in its capacity as the debentureholder trustee of the Company’s (A) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (B) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024 (the “Backstop Debentures”) (All Js and Capital Transfer Agency in its said capacity are collectively referred to as the “Secured Credit Bidders”) pursuant to which the Secured Credit Bidders would act as stalking-horse bidders under the SISP. The Company intends to return to the Court within 10 days for the Comeback Hearing to seek the Amended and Restated Initial Order.

During the CCAA proceedings, it is expected that ordinary course obligations to employees and key suppliers of goods and services subsequent to the filing date will continue to be met. Management of the Company will remain responsible for the day-to-day operations under the general oversight of the Monitor.

A copy of the Initial Order and other Court materials and information related to the Company's CCAA proceedings, all as may be updated or amended from time to time, are available on the website maintained by E&Y at www.ey.com/ca/ggbi.

The Company intends to provide further updates on the CCAA proceedings when there are significant developments.

The Company also announced today that its Florida-based subsidiaries entities (GGB Florida LLC, GGB Green Holdings LLC and Spring Oaks Greenhouses, Inc. (collectively, the “GGB Florida Subsidiaries”)) have entered into a forbearance agreement (the “Forbearance Agreement”) in respect of certain events of default under, among other things, the amended and restated security agreement (the “Florida Security Agreement”) dated as of April 29, 2020, among the GGB Florida Subsidiaries, the Company and Green Ops Group LLC ( “Green Ops”) as the secured creditor thereunder and certain loan documents originally entered in favour of Stanley W. Harris, as the representative of each seller under that certain share purchase agreement dated as of June 3, 2019, pursuant to which the Company acquired its Florida-based cannabis business.

Pursuant to the terms of the Forbearance Agreement, Green Ops has agreed, among other things, not to commence a foreclosure sale of the collateral (“Collateral”) under the Florida Security Agreement or accelerate amounts due under the related loan documents (the “Forbearance Covenant”) until June 15, 2020 (the “Forbearance Period”) as such period may be extended in accordance with the terms of the Forbearance Agreement. In addition, Green Ops has agreed to advance US$500,000 to the GGB Florida Subsidiaries, representing the balance payable under a US$1 million principal amount 15% secured note dated April 29, 2020. In consideration of the Forbearance Covenant, the Company and Florida Subsidiaries have agreed to conduct a sales process in respect of the business, assets and undertaking of the Florida Subsidiaries with the intention of entering into a binding agreement of purchase and sale prior to the expiry of the Forbearance Period.

The Company and the GGB Florida Subsidiaries have agreed that, upon expiry of the Forbearance Period, the Forbearance Covenant shall terminate and Green Ops shall be entitled to exercise any and all of its rights under the applicable loan documents and applicable law against the Collateral, and the Company and the GGB Florida Subsidiaries will not contest any such enforcement action pursuant to the terms of a Voluntary Surrender of Collateral in Satisfaction of Debt and Release Agreement among the parties.

The DIP Agreement

Subject to certain conditions, All Js will make available to the Company a secured non-revolving credit facility up to a maximum principal amount of US$7,200,000. GGB Canada Inc., GGB Holdco Inc., GGB Green Holdings LLC, GGB Nevada LLC, GGB Nevada Pahrump LLC, GGB Nevada Land LLC, Wellness Orchards of Nevada LLC, Henderson Organic Remedies LLC, Nevada Organic Remedies LLC, Sahara Merchants LLC, GGB Massachusetts LLC, GGB Massachusetts Land LLC, Just Healthy, LLC, Xanthic Biopharma Limited, Xanthic Biopharma US Hold Co., and Xanthic Colorado LLC (collectively, the “Guarantors”) will be guarantors of the Company’s obligations under the DIP Agreement.

The proceeds of the DIP Agreement shall be used during the CCAA proceedings to fund (i) financial advisory fees and professional fees; (ii) the payment of interest and other amounts payable under the DIP Agreement; and (iii) the ongoing requirements of the Company and the Guarantors (including for working capital and other general corporate purposes), in each case in accordance with a budget agreed to with the Lender (the “DIP Budget”). The Company may not use the proceeds of the DIP Agreement to pay any pre-filing obligations of the Borrower or the Guarantors without the prior written consent of the Lender or as contemplated by the DIP Budget.

The DIP Agreement shall be repayable in full on the earliest of: (i) the date a demand for repayment in writing has been made by the Lender following the occurrence of any Event of Default (as defined therein) which is continuing and has not been cured; (ii) the completion of the Stalking Horse Agreement or any successful bid through the SISP, in which case the amounts owing under the DIP Agreement shall be repaid in full; (iii) the date on which the Initial Order expires without being extended or on which the CCAA proceedings are dismissed or converted into a proceeding under the Bankruptcy and Insolvency Act (Canada); (iv) the sale of all or substantially all of the property and assets of each of the Company and Guarantors; and (v) the date which is 120 days following the date that all conditions to the advance of the Initial Amount have been satisfied. Advances under the DIP Agreement are subject to certain customary conditions precedent, covenants and representations.

Amounts owing under the DIP Agreement will bear interest at a rate of 5% per annum (with overdue amounts bearing interest at the applicable interest rate plus 2% per annum payable on demand) and have the benefit of a Court-ordered charge on the assets, property and undertakings (the “Property”) of the Applicants (the “DIP Lender’s Charge”), ranking behind (i) a charge on their Property in the maximum amount of US$1,000,000 to secure the fees and disbursements incurred in connection with services rendered to the Applicants, both before and after the commencement of the CCAA proceedings by the Monitor and its counsel and Applicants’ counsel; (ii) a charge to secure payment under the indemnity granted by the Initial Order in favour of the Applicants’ directors and officers; and (iii) a charge in respect of the Company’s obligations under that certain promissory note in the principal amount of $39,000,000 dated May 15, 2019 as amended and restated on November 15, 2019.

Early Warning Disclosure

This press release is also issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed by All Js on SEDAR (www.sedar.com) containing additional information with respect to certain of the foregoing matters. To receive a copy of the early warning report filed in respect of the above matters, please contact Michael Broidy at 614-449-4200 or michael.broidy@vcf.com. GGB’s head office is located at 4300 E. Fifth Avenue, Columbus, Ohio 43219.

All Js beneficially owns an aggregate of 63,931 proportionate voting shares of the Company (“PV Shares”) on a non-diluted basis and 192,459 PV Shares on a partially-diluted basis (representing 100% and 100%, respectively, of the Company’s issued and outstanding PV Shares) and an aggregate of 38,178,086 common shares of the Company (“Common Shares”) on a non-diluted basis and 135,311,386 Common Shares on a partially-diluted basis (representing approximately 18.5% and 39.6%, respectively, of the Company’s issued and outstanding Common Shares).

All Js may in the future, depending on various factors and subject to the provisions of the SISP, the DIP Agreement, orders of the Court under the CCAA proceedings, the Stalking Horse Agreement and applicable securities laws, increase or decrease its beneficial ownership, control or direction over securities of GGB through market transactions, private agreements, treasury issuances, exercise of warrants or otherwise. All Js may also engage in discussions or negotiations with other debtholders, shareholders and other stakeholders of GGB in connection with various matters depending on how the CCAA proceedings unfold, including regarding possible changes to the capitalization, constating documents, corporate structure or the board of directors or management of the Company as may be appropriate in the circumstances.

About Green Growth Brands Inc.

Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida. Learn more about the vision at GreenGrowthBrands.com.

Cautionary Statements

Forward Looking Information

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in (i) the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR and (ii) the Company’s Short Form Prospectus dated August 15, 2019.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release, including the ability of the Company to operate in the ordinary course during the CCAA proceedings, including with respect to satisfying obligations to employees and key suppliers of goods and services; the ability of the Company to successfully restructure its finances and operations; and the availability of financing to be provided under the DIP Agreement, are made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Information Relating to All Js

All information in this press release under the heading “Early Warning Disclosure”, including but not limited to All Js’ intentions with respect to the securities of the Company over which it has direction or control, was provided by All Js and has not been independently verified by the Company.

US Securities Law Disclaimer

This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act“) or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

For investor relations inquiries, please contact:

Eric Wright
289-805-3697
ewright@greengrowthbrands.com

or

For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications
416-710-3370
wynn@thirtydash.ca

or

Randy Whitaker
Chief Executive Officer
Green Growth Brands Inc.
rwhitaker@greengrowthbrands.com

👍️0
JohnCM JohnCM 4 years ago
Green Growth Brands Files for Bankruptcy
👍️0
JohnCM JohnCM 4 years ago
Where did the CEO go? High Times?
👍️0
ALERTS100%to10000%GAIN ALERTS100%to10000%GAIN 4 years ago
dont miss
👍️0

Your Recent History

Delayed Upgrade Clock