Saturday, June 27, 2020 4:38:56 AM
Press Release | 06/26/2020
COLUMBUS, Ohio, June 26, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) ("GGB" or the "Company") announced today the expiry of the forbearance period (“Forbearance Period”) pursuant to the terms of the forbearance agreement (the “Forbearance Agreement”) with Green Ops Group LLC (“Green Ops”) previously announced on May 20, 2020. The expiration of the Forbearance Period entitles Green Ops to exercise any and all of its rights under the loan documents and applicable law, and GGB is precluded from contesting any such enforcement action under a separate Voluntary Surrender of Collateral in Satisfaction of Debt and Release Agreement among the parties. The Company has also received a letter from legal counsel to Green Ops notifying the Company of the acceleration of all secured obligations of the Company under the Forbearance Agreement and that all guaranteed obligations of the Company owing to Green Ops are immediately due and payable in full. The Company has been notified that Green Ops intends to enforce its righs under such loan documents and applicable law through the seizure of collateral granted by the Company and the Grantors (as defined in the Forbearance Agreement).
About Green Growth Brands Inc.
Green Growth Brands creates remarkable experiences in cannabis. The company’s brands include CAMP, The+Source, and 8 Fold. GGB is continuing its cannabis operations throughout the U.S., via dispensaries in Nevada and Massachusetts. Learn more about the vision at GreenGrowthBrands.com.
For investor relations inquiries, please contact:
Randy Whitaker
Chief Executive Officer
Green Growth Brands Inc.
rwhitaker@greengrowthbrands.com
1-800-282-8462
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM
Element79 Gold Corp Announces 2024 Clover Work Plans & Nevada Portfolio Updates • ELMGF • Sep 10, 2024 11:00 AM
Nightfood Holdings Inc. Completes Major Step on Uplist Journey by Closing Strategic All-Stock Acquisition of CarryoutSupplies.com • NGTF • Sep 10, 2024 8:15 AM
Element79 Gold Corp. Announces Sale of 100% Interest in Elder Creek, North Mill Creek, and Elephant Projects to 1472886 B.C. Ltd. • ELEM • Sep 9, 2024 9:34 AM