Agreement provides Grown Rogue option to acquire controlling interest of assets.
First harvest expected Q4-2019
MEDFORD, OR , July 2, 2019 /CNW/ – Grown Rogue International Inc. (CSE:GRIN | OTC:GRUSF) (“Grown Rogue” or the “Company”), a vertically-integrated, multi-state cannabis company with licenses and assets in Oregon , California , and now entering Michigan , announced today a binding agreement (“Agreement”) to expand further into Michigan through a new strategic acquisition and partnership with experienced cannabis operators in Muskegon. The partnership is with Inferno Gardens, Inc (“Inferno Gardens”), whose assets include the local approval for one retail dispensary (referred to as provisional centers in Michigan ) and a 24,000 sq ft indoor manufacturing facility that will include both cultivation and processing when fully constructed. State licensing is in progress and expected to be completed in the coming months. The facility is approximately 40% constructed and expected to be fully operational within 120 days. Final acquisition and partnership is subject to Michigan regulatory approval and full licensing of Grown Rogue at the state level.
View photosGrown Rogue cannabis announced acquisition and operations in Muskegon, Michigan (CNW Group/Grown Rogue International Inc.)More
The terms of the Agreement include the following provisions: