According to a release earlier today, Renee Gagnon, founder and CEO of HollyWeed North Cannabis Inc., has announced that the company has signed a letter of intent dated Sept. 10, 2018, to acquire Women Grow, LLC for an undisclosed price.
Women Grow, which was founded in 2014 by Jane West to connect, educate, and empower diverse leaders in all segments of the cannabis industry., has now 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 17 markets and continues to expand.
“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.
HollyWeed North Cannabis Inc. 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 to Go Public?
In August, Navion Capital Inc. (TSXV:NAVN.P), a capital pool company, announced that it had signed a letter of intent dated August 17, 2018, with Hollyweed North Cannabis Inc. to complete a qualifying transaction which would land Hollyweed as a public Life Sciences issuer on the TSX Ventures Exchange upon completion.
The qualifying transaction is subject to a handful of conditions including:
- A concurrent private placement to raise a minimum $2 million CAD in additional funds by the issuance of common shares of Hollyweed North at an effective price of $1.00 CAD per share.
- The completion of satisfactory due diligence;
- The approval of the transaction by the board of directors of both of Hollyweed North and Navion;
- All requisite regulatory approvals relating to the Transaction, including, without limitation, meeting the minimum listing requirements of the TSXV and obtaining TSXV approval.
Hollyweed North is currently restructuring its capital such that, upon execution of the agreement, all of the HollyWeed North subsidiaries will be wholly-owned by Hollyweed North.
HollyWeed North’s subsidiaries include HollyWeed Manufacturing and Extracts Inc., a federally dealers’ licensed company incorporated in British Columbia specializing in cannabis extraction and product manufacturing; HollyWeed Grow Inc., 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., a retail strategies provider and supply chain management company incorporated in British Columbia; Hollyweed Bakery Inc., a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia; and Terracube International Inc., a manufacturer and developer of proprietary scalable, sanitary grow facilities incorporated in British Columbia.
Regardless of whether or not HollyWeed ends up on the public markets, this is a huge deal for Women Grow.
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