Greenrose Acquisition Corp. Stockholders Approve Business Combination
October 27 2021 - 5:30PM
Greenrose Acquisition Corp. (OTC: GNRSU, GNRS, GNRSW) (“Greenrose”
or the “Company”), a special purpose acquisition company targeting
companies in the cannabis industry, announced today that its
shareholders voted to approve the proposed business combination
(the “Business Combination”) with Connecticut-based Theraplant, LLC
and the acquisition of certain assets of Arizona-based True
Harvest, LLC.
Upon closing the Business Combination, which is
expected to be in early November, the combined company will be
named The Greenrose Holding Company and will continue to be listed
on the OTC under the symbols “GNRSU,” “GNRS,” and “GNRSW.”
Greenrose also intends to list on the NEO exchange as soon as
practicable after the close of the Business Combination.
“We are grateful for the support of our
shareholders and would like to thank them for sharing in our vision
of developing and expanding our cannabis platform,” said Mickey
Harley, CEO and Director of Greenrose. “Our team is ready to enter
our next exciting growth phase, and we look forward to using the
proceeds of this transaction to expand in our existing markets and
target strategic assets in key states that present opportunities
for further consolidation.”
Advisors
Imperial Capital, LLC is acting as capital
markets advisor to Greenrose. Gateway Group is serving as
communications advisor to Greenrose. Mackenzie Partners and
Broadridge Financial Solutions are acting as proxy advisors to
Greenrose in connection with its proxy solicitation efforts.
About Greenrose
Greenrose 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. Greenrose has entered into definitive
agreements to acquire four cannabis companies, known collectively
as “The Platform.” The companies are Shango Holdings Inc. (Shango),
Futureworks LLC (d/b/a The Health Center), Theraplant, LLC and True
Harvest, LLC. The new Greenrose Platform will be a multistate
operator that will look to further vertically and horizontally
integrate in the markets that it is in and to enter new high growth
and limited license markets.
No Offer or Solicitation
This press release relates to the proposed
Business Combination. This document does not constitute an offer to
sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
Certain 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: any inability to obtain Greenrose
stockholder approval of the business combinations, any inability to
complete the transaction contemplated by each of the respective
merger or acquisition agreements because of failure of closing
conditions or other reasons; any 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; 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 Definitive 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.
Additional Information About the
Proposed Business Combination and Where to Find It
For additional information about the proposed
business combinations, see Greenrose’s Definitive Proxy Statement
on Schedule 14A filed with the SEC on October 5, 2021 available at
www.sec.gov.
Investor Relations Contact:Gateway Investor
RelationsCody Slach or Jackie Keshner(949)
574-3860GNRS@gatewayir.com
Greenrose Contact:Daniel HarleyExecutive Vice
President, Business Development(516)
307-0383ir@greenrosecorp.com
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