GRN Holdings Company, Inc. (OTC Pink: GRNF) will turn into often called Marijuana Inc. any more, pending approval. The corporate additionally introduced new modifications in administration and its enterprise mannequin in addition to a company restructuring.
The corporate mentioned it amended articles with the Secretary of State of Delaware and a associated Monetary Trade Regulatory Authority (FINRA) company motion to vary the corporate identify to Marijuana Inc. The corporate proclaims the appointment of a brand new Chief Government Officer, Donald Steinberg, who is concentrated on implementing a brand new enterprise mannequin primarily based on retail and worldwide distribution.
“We see now that nations worldwide are going by way of completely different levels of decriminalization together with the beginnings of authorized import and export,” the newly-minted CEO mentioned. “The identify change to Marijuana, Inc. is key to the corporate’s shift from an acquisition firm to an organization targeted on the authorized international distribution of marijuana. I sit up for collaborating within the huge change going down on a world scale relating to marijuana.”
Marijuana Inc. mentioned it would have two new divisions. The primary is VivaBuds, which is established as a retail mannequin beginning in Los Angeles. The VivaBuds program makes use of a “Inform A Good friend” advertising and marketing method to interrupt by way of established and conventional provide traces by going direct from farm to shopper.
The second, One World Legends, will give attention to Colombia and the preparations for export from there.
“International distribution of marijuana is within the early levels and we’re structuring the corporate to fulfill the demand,” mentioned Rocky Petrullo, President of One World Legends (OWL). “After finishing a number of journeys to Colombia which consisted of creating partnerships with licensed farms and business leaders, I affirmed that the hashish business in Colombia is able to develop prime quality, giant quantity, hashish flower. I’ve additionally traveled to Spain and Amsterdam to get a wholesome understanding of the European market the place we’re aiming for importation from Colombia.”
OWL mentioned it would distribute the Colombian strains, in addition to landrace strains similar to Durban Poison, and Afghan Kush from Colombia to authorized clients. The time period “landrace” is utilized in reference to the restricted variety of surviving hashish strains which advanced naturally within the geographic area by which they have been found by human beings within the twentieth century. Landrace strains symbolize the unique hashish strains and are due to this fact the origins of all fashionable hashish strains internationally, the discharge mentioned.
“I’ve labored laborious to seek out the landrace strains from completely different components of the world and have secured seeds for grows in Colombia,” Petrullo mentioned. “I’m passionate concerning the high quality of Colombian develop coupled with the seeds of outdated. That is our area of interest and I imagine it is going to be invaluable to the preservation of hashish historical past and pleasure of the plant.”
The corporate launched a brand new web site www.marijuanainc.com “as a part of the general refocus of the corporate,” it mentioned. It additionally mentioned it would change the identify and image to assist to raised align the corporate with its new enterprise mannequin.
The corporate has lately filed a 20:1 reverse break up with the FINRA. The break up has not but been accepted however the firm expects it to be efficient quickly.
“The reserve break up might assist make our firm extra engaging to institutional traders, guarantee the corporate maintains the factors for an up-listing to OTCQB, in addition to make the inventory extra engaging for mergers and acquisitions,” it mentioned within the launch.
Former CEO Justin Costello resigned with the appointment of Donald Steinberg as CEO and Director, Steinberg as the corporate’s sole director.
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