GRN Holdings Company, Inc. (OTC Pink: GRNF) will turn into generally known as 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 stated it amended articles with the Secretary of State of Delaware and a associated Monetary Trade Regulatory Authority (FINRA) company motion to alter the corporate identify to Marijuana Inc. The corporate declares 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 international locations worldwide are going by means of totally different phases of decriminalization together with the beginnings of authorized import and export,” the newly-minted CEO stated. “The identify change to Marijuana, Inc. is key to the corporate’s shift from an acquisition firm to an organization centered on the authorized international distribution of marijuana. I look ahead to taking part within the huge change going down on a worldwide scale concerning marijuana.”
Marijuana Inc. stated it can 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 means of established and conventional provide strains by going direct from farm to shopper.
The second, One World Legends, will deal with Colombia and the preparations for export from there.
“International distribution of marijuana is within the early phases and we’re structuring the corporate to satisfy the demand,” stated Rocky Petrullo, President of One World Legends (OWL). “After finishing a number of journeys to Colombia which consisted of building 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 stated it can distribute the Colombian strains, in addition to landrace strains equivalent 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 developed naturally within the geographic area through which they had been found by human beings within the twentieth century. Landrace strains symbolize the unique hashish strains and are subsequently the origins of all fashionable hashish strains internationally, the discharge stated.
“I’ve labored onerous to search out the landrace strains from totally different components of the world and have secured seeds for grows in Colombia,” Petrullo stated. “I’m passionate in regards to the high quality of Colombian develop coupled with the seeds of outdated. That is our area of interest and I imagine will probably 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 stated. It additionally stated it can change the identify and image to assist to higher align the corporate with its new enterprise mannequin.
The corporate has not too long ago filed a 20:1 reverse cut up with the FINRA. The cut up has not but been accepted however the firm expects it to be efficient quickly.
“The reserve cut up might assist make our firm extra engaging to institutional buyers, 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 stated 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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