Green Growth Brands announces issuer bid

On April 15, 2019, Green Growth Brands Inc. ("Green Growth") announced that it agreed to repurchase 27,300,000 of its common shares held by GA Opportunities Corp. ("GAOC") for an aggregate consideration of C$89 million, or approximately C$3.26 per share.

The consideration will be paid through a combination of cash and a secured promissory note payable in 6 months from the closing of the repurchase. Following the completed of the transaction, GAOC will continue to hold 200,000 Green Growth shares (less than 5% of issued and outstanding Green Growth common shares), which will be subject to a 12 month lock-up agreement on customary terms with 16,666 shares released per month.

The transaction is expected to take place in early May and is conditional on the satisfaction of terms outlined in the Relief granted to Green Growth by Ontario Securities Commission on April 12, 2019.

Green Growth Brands is a cannabis retail company operating worldwide, whose brands include CAMP, Seventh Sense Botanical Therapy, The+Source, Green Lily and Meri + Jayne, with a licensing agreement with the Greg Norman Brand.

Further information can be found on Canada Newswire's website.