Greenrose Acquisition Corp Announces Intention to Voluntarily Delist from Nasdaq and List on the OTCQX Best Market
June 10 2021 - 4:40PM
Greenrose Acquisition Corp. (NASDAQ: GNRSU, GNRS, GNRSW)
(Greenrose), a special purpose acquisition company targeting
companies in the cannabis industry, announced that it has filed
notice with the Nasdaq Capital Market (“Nasdaq”) and the U.S.
Securities and Exchange Commission that it intends to delist its
shares from the exchange, effective prior to the market open on
June 21, 2021. The reason for the delisting is that upon closing of
its previously announced business combinations, Greenrose expects
to become a U.S. cannabis company with plant-touching operations
and would no longer be in compliance with Nasdaq rules.
As previously announced, Greenrose expects to simultaneously
list on the OTCQX Best Market, with its shares expected to commence
trading on June 21, 2021. The ticker symbols are anticipated to
stay the same. Trading on the OTCQX Market offers companies
efficient, cost-effective access to the U.S. capital markets.
Streamlined market requirements for OTCQX are designed to help
companies lower the cost and complexity of being publicly traded,
while providing transparent trading for their investors. To qualify
for OTCQX, companies must meet high financial standards, follow
best practice corporate governance, and demonstrate compliance with
applicable securities laws.
About GreenroseGreenrose Acquisition Corp. is a
blank check company organized for the purpose of effecting a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar business
combination with one or more businesses or entities. Following the
transactions forming the Platform (as defined in our public filings
available at greenrosecorp.com), Greenrose expected be a vertically
integrated, multistate operator cannabis company. For more
information, visit greenrosecorp.com.
Forward-Looking StatementsCertain statements
made in this release are "forward looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. When used in this
press release, the words "estimates," "projected," "expects,"
"anticipates," "forecasts," "plans," "intends," "believes,"
"seeks," "may," "will," "should," "future," "propose" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
Greenrose's or its target companies’ control, that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include:
the inability to obtain Greenrose stockholder approval of the
business combinations, the inability to complete the transaction
contemplated by each of the respective merger or acquisition
agreements because of failure of closing conditions or other
reasons; the inability to recognize the anticipated benefits of the
proposed business combinations, which may be affected by, among
other things, the amount of cash available following any
redemptions by Greenrose stockholders; liquidity of Greenrose's
stock once quoted on the OTCQX; costs related to the proposed
business combinations; Greenrose's ability to manage growth;
Greenrose's ability to identify and integrate other future
acquisitions; rising costs adversely affecting Greenrose's
profitability; competition in the legal cannabis industry; adverse
changes to the legal environment for the cannabis industry; and
general economic and market conditions impacting demand for
Greenrose's products and services. See the risk factors disclosed
in the preliminary proxy statement for the business combinations
for additional risks associated with the business combinations.
None of Greenrose, Shango Holdings Inc., Futureworks LLC
(d/b/a The Health Center), Theraplant, LLC, or True
Harvest, LLC undertakes any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. Readers
should not unduly rely on any projections or other forward-looking
statements or data contained herein.
Investor Relations Contact:Gateway Investor
RelationsCody Slach or Jackie Keshner(949)
574-3860GNRS@gatewayir.com
Greenrose Contact:Daniel P. Harley Executive
Vice President, Business Development(516)
307-0383ir@greenrosecorp.com
Greenrose Axquisition (NASDAQ:GNRS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Greenrose Axquisition (NASDAQ:GNRS)
Historical Stock Chart
From Sep 2023 to Sep 2024