GRN Holding Corp (GRNF)

[e-ore]

I wonder if CANN/CCSAC money was used to pay for the GRNF shell purchase. The capital management agreement PBC signed with CCSAC was done on 6/17/19, Costello buys DCGD 6/20, deal closes on 6/25, which is about how long it would take the $2.8 million deposited under the agreement to clear.

"In June 2019, CCSAC and Pacific Banking Corp. ("PBC") entered into a Capital Management Agreement whereby PBC agreed to perform certain banking services at the direction of CCSAC.
4. In furtherance thereof, plaintiffs deposited in excess of $2.8 million with PBC."

"Plaintiffs are informed and believe and based thereon allege that PBC unilaterally transferred some or all of plaintiffs’ funds to accounts held by GRN Funds, LLC (“GRN”), an entity controlled by its chief executive officer, Costello. GRN has issued checks or been referenced on checks issued in payment of certain accounts of plaintiffs."

"On June 20, 2019, GRN Funds, LLC, a Washington limited liability company, and its manager and Chief Executive Officer, Justin Costello, purchased a total of 139 million shares of the Registrant’s common stock representing 55.65% of this issued and outstanding shares, in a private transaction with Stephen Flechner and David Cutler. As a result of the closing of the transaction on June 25, 2019, GRN Funds, LLC and Mr. Costello acquired a majority of the issued shares eligible to vote. The total purchase price of $300,000 was paid in cash by GRN Funds, LLC"