Green Growth Brands to Acquire Xanthic Biopharma

Published: July 17, 2018

Green Growth Brands to Acquire Xanthic Biopharma

Xanthic Biopharma Inc. and Green Growth Brands Ltd. have entered into an arm’s length business combination agreement to combine Xanthic and GGB by way of amalgamation between GGB and a wholly-owned subsidiary of Xanthic to form one company as a wholly-owned subsidiary of Xanthic.

GGB is a lifestyle oriented, consumer products company that celebrates health, wellness and happiness. GGB is focused on the medicinal and recreational cannabis sector in both the United States and Canada and is the parent company of the CAMP brand. GGB is led by the widely-renowned retailer Peter Horvath. The Business Combination represents the initial step in GGB’s strategy to grow its international footprint, through partnerships with cannabis cultivators and processors across Canada and the United States. While GGB’s principal focus will be to build a retail network, it will leverage Xanthic’s expertise in the science of tetrahydrocannabinol (“THC”) and cannabidiol (“CBD”), the two key active ingredients in cannabis.

Assuming the satisfaction of customary closing conditions, including the approval of Xanthic’s shareholders, the Business Combination is expected to close in the fourth quarter of this year.

Peter Horvath, GGB’s Chief Executive Officer who will serve as a Director of Xanthic, commented, “With this strategic business combination, GGB is positioned to launch our retail and branding expertise into this fast growing marketplace. In addition the NOR acquisition launches our entry into the highly productive Las Vegas market where we will now expand our footprint, where we can go head to head with the best brands and retail concepts in the cannabis space.”