HOLLYWEED NORTH CANNABIS INC. ANNOUNCES LETTER OF INTENT TO ACQUIRE WOMEN GROW, LLC
Renee Gagnon, Founder and CEO of HollyWeed North Cannabis INC. (“HollyWeed North”), is pleased to announce that the company has signed a letter of intent dated September 10, 2018, to acquire Women Grow, LLC (“Women Grow”), a global company that provides connections, education and empowerment for aspiring and current cannabis entrepreneurs and business executives. Founded in 2014 in Denver, CO, Women Grow has had over 50,000 individuals across the U.S and Canada attend its monthly Signature Networking Events and annual Leadership Summit, with an overall reach of over a half of million followers. Currently, Women Grow operates in seventeen (17) markets and continues to expand.
In making the announcement, Renee Gagnon, Founder and CEO of HollyWeed North stated, “For almost four years, it has been my pleasure to share in the phenomenon that is Women Grow. Women are the cornerstone of the cannabis industry and it is HollyWeed North’s goal to ensure that women succeed and thrive in this exciting emerging industry.”
“This is an amazing opportunity for Women Grow and its community. We are pleased to enter into this next phase with HollyWeed North and Renee Gagnon, a highly respected and notable business leader in the cannabis industry. We have enjoyed a long relationship with Renee and look forward to exploring potential expansion opportunities,” said Kristina Garcia, CEO of Women Grow.
Chairwoman of Women Grow’s Board of Managers, Dr. Chanda Macias, says, “This is a monumental and thrilling time for Women Grow. Renee Gagnon has been an integral part of Woman Grow from the beginning. She understands and supports our community.” Macias continues, “Women Grow has been at the forefront of change in the cannabis industry. Here is a unique opportunity for us to further our mission.”
HollyWeed North is a private Canadian company incorporated in British Columbia, established in 2016, with operating subsidiaries specializing in the growth, manufacturing, licensing and production of cannabis and other pharma grade products. HollyWeed North’s subsidiaries include HollyWeed Manufacturing and Extracts Inc. (“Extracts”), a federally dealers’ licensed company incorporated in British Columbia specializing in cannabis extraction and product manufacturing.
HollyWeed Grow Inc. (“Grow”), a late stage federal ACMPR Applicant, also a private company incorporated in British Columbia specializing in the growth of medical cannabis and cannabis products, HollyWeed Retail Inc. (“Retail”), a retail strategies provider and supply chain management company incorporated in British Columbia, Hollyweed Bakery Inc. (“Bakery”), a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia, and Terracube International Inc. (“Terracube”), a manufacturer and developer of proprietary scalable, sanitary grow facilities incorporated in British Columbia (collectively, the “Business”). HollyWeed North is currently restructuring its capital such that, upon execution of the Definitive Agreement (defined below), all of the subsidiaries will be wholly-owned by HollyWeed North.
Definitive agreement and terms to be announced in subsequent release(s). Transaction is subject to due diligence and exchange approval
ABOUT HOLLYWEED NORTH
HollyWeed North is a private Canadian company incorporated in British Columbia, established in 2016, specializing in the growth, manufacturing, licensing and production of cannabis and other pharma-grade products through its operating subsidiaries.
HollyWeed North’s subsidiaries include:
HollyWeed Manufacturing and Extracts Inc. (“Extracts”), a holder of a Federal Health Canada “Dealers License”, incorporated in British Columbia, specializing in cannabis extraction and product manufacturing.
HollyWeed Grow Inc. (“Grow”), a late stage federal ACMPR Applicant, is incorporated in British Columbia, specializing in the growth of medical cannabis and cannabis products,
HollyWeed Retail Inc. (“Retail”), a retail strategies provider and supply chain management company incorporated in British Columbia.
Hollyweed Bakery Inc. (“Bakery”), a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia.
Terracube International Inc. (“Terracube”), a manufacturer and developer of proprietary scalable, pharma grade clean room grow facilities, incorporated in British Columbia.
ABOUT WOMEN GROW
Women Grow is a for-profit private company that provides professional networking, education, and empowerment for female leaders in the cannabis industry. Dedicated to building an inclusive new industry from the outset, Women Grow hosts monthly Signature Networking Events in cities across the U.S. and Canada. These events provide attendees with the insight and connections needed to succeed at every point in their business and/or careers. Women Grow is open to all individuals at all stages of their business development from within the cannabis industry’s many sectors. Visit WomenGrow.com and follow Women Grow on Facebook, Twitter and Instagram (@womengrow).
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) the contraction or lack of growth of markets in which we compete and in which our products are sold (ii)unexpected increases in our expenses, including manufacturing expenses, (iii) our inability to adjust spending quickly enough to offset any unexpected revenue shortfall, (iv) delays or cancellations in spending by our customers, (v) unexpected average selling price reductions, (vi) the significant fluctuation to which our quarterly revenue and operating results are subject due to cyclicality in the wireless communications industry and transitions to new process technologies, (vii) our inability to anticipate the future market demands and future needs of our customers, (viii) our inability to achieve new design wins or for design wins to result in shipments of our products at levels and in the timeframes we currently expect, (ix) our inability to execute on strategic alliances, (x) the impact of natural disasters on our sourcing operations and supply chain, and(xi) other factors detailed in documents we file from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
MEDIA CONTACTS: HollyWeed North Cannabis INC. Women Grow LLC