Shareholders of Greenrose Acquisition Corp. approve the business combination
– All shareholder proposals have been approved –
– Transaction scheduled for early November –
AMITYVILLE, NY, October 27, 2021 (GLOBE NEWSWIRE) – Greenrose Acquisition Corp. (OTC: GNRSU, GNRS, GNRSW) (âGreenroseâ or the âCompanyâ), a specialist acquisition company targeting companies in the cannabis industry, today announced that its shareholders have voted to approve the combination proposed business (the âBusiness Combinationâ) with Theraplant, LLC, based in Connecticut, and the acquisition of certain assets of True Harvest, LLC, based in Arizona.
Upon closing of the business combination, which is expected to take place in early November, the combined company will be named The Greenrose Holding Company and will continue to be listed on the OTC under the symbols âGNRSUâ, âGNRSâ and âGNRSWâ. Greenrose also intends to list on the NEO exchange as soon as possible after the closing of the business combination.
âWe are grateful for the support of our shareholders and would like to thank them for sharing our vision for developing and expanding our cannabis platform,â said Mickey Harley, CEO and Director of Greenrose. âOur team is poised to enter our next exciting growth phase, and we look forward to using the proceeds of this transaction to expand into our existing markets and target strategic assets in key states that present opportunities for further consolidation. . “
Imperial Capital, LLC acts as an advisor on the capital markets of Greenrose. Gateway Group serves as a communications advisor to Greenrose. Mackenzie Partners and Broadridge Financial Solutions are acting as proxy advisors to Greenrose in connection with its proxy solicitation efforts.
Greenrose Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, share swap, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more companies or entities. Greenrose has entered into definitive agreements to acquire four cannabis companies, known collectively as “The Platform”. The companies are Shango Holdings Inc. (Shango), Futureworks LLC (d / b / a The Health Center), Theraplant, LLC and True Harvest, LLC. The new Greenrose platform will be a multi-state operator that will seek to integrate more vertically and horizontally into the markets in which it is located and enter new high growth, limited license markets.
No offer or solicitation
This press release relates to the Business Combination Project. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any jurisdiction in which any such offer, sale or exchange would be illegal prior to registration or qualification under the securities laws of such jurisdiction.
Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates”, “Forecast,” “expect”, “anticipate”, “forecast”, “forecast”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “proposes” and variations of such words or expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of performance, conditions or future results, and involve a number of known and unknown risks, uncertainties, assumptions and other significant factors, many of which are beyond the control of Greenrose or its target companies, that could cause actual results or results. s differ materially from those discussed in forward-looking statements. Significant factors, among others, that may affect results or actual results include: any inability to obtain Greenrose shareholder approval for business combinations, any inability to complete the transaction contemplated by each of the merger agreements or respective acquisitions due to the failure of closing conditions or other reasons; any failure to recognize the anticipated benefits of the proposed business combinations, which could be affected, among other things, by the amount of cash available following any buyout by shareholders of Greenrose; the liquidity of Greenrose shares; costs associated with proposed business combinations; Greenrose’s ability to manage growth; Greenrose’s ability to identify and integrate other future acquisitions; rising costs negatively affecting Greenrose’s profitability; competition in the legal cannabis industry; adverse changes in the legal environment for the cannabis industry; and general economic and market conditions affecting the demand for Greenrose products and services. See the risk factors disclosed in the definitive proxy statement for business combinations for additional risks associated with business combinations. None of Greenrose, Shango Holdings Inc., Futureworks LLC (d / b / a The Health Center), Theraplant, LLC or True Harvest, LLC makes any commitment to update or revise any forward-looking statements, whether at the following new information, future events or otherwise, except as required by law. Readers should not place undue reliance on any projections or other forward-looking statements or data contained herein.
Additional information on the proposed business combination and where to find it
For more information on the proposed business combinations, see Greenrose’s final proxy statement on Schedule 14A filed with the SEC on October 5, 2021, available at www.sec.gov.
Investor Relations Contact:
Investor Relations Gateway
Cody Slach or Jackie Keshner
Executive Vice President, Business Development