Grown Rogue announced today that its partner, Canopy Management, LLC has acquired a 60% controlling interest in Golden Harvests, LLC. Canopy is controlled by Grown Rogue’s chief executive officer, Obie Strickler and in order to expedite regulatory approvals, Canopy obtained the option to acquire 60% ownership of Golden Harvests and signed a new agreement under materially similar terms to the previous option agreement with GR Michigan, LLC. Simultaneously, Strickler provided Grown Rogue Unlimited, LLC a right to acquire 87% of the membership units of Canopy pending state and regulatory approval
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Grown Rogue announced today that its partner, Canopy Management, LLC has acquired a 60% controlling interest in Golden Harvests, LLC. Canopy is controlled by Grown Rogue’s chief executive officer, Obie Strickler and in order to expedite regulatory approvals, Canopy obtained the option to acquire 60% ownership of Golden Harvests and signed a new agreement under materially similar terms to the previous option agreement with GR Michigan, LLC. Simultaneously, Strickler provided Grown Rogue Unlimited, LLC a right to acquire 87% of the membership units of Canopy pending state and regulatory approval
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Grown Rogue announced today that its partner, Canopy Management, LLC has acquired a 60% controlling interest in Golden Harvests, LLC. Canopy is controlled by Grown Rogue’s chief executive officer, Obie Strickler and in order to expedite regulatory approvals, Canopy obtained the option to acquire 60% ownership of Golden Harvests and signed a new agreement under materially similar terms to the previous option agreement with GR Michigan, LLC. Simultaneously, Strickler provided Grown Rogue Unlimited, LLC a right to acquire 87% of the membership units of Canopy pending state and regulatory approval
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Grown Rogue reported record sales orders of US$1.25M for March 2021 as it scales production assets in both Oregon and Michigan. The unprecedented month follows a record Q1 2021 pro-forma revenue of US$2.0M with a 66% cash margin. March sales represents 63% of the pro-forma revenue in Q1 2021 which puts Grown Rogue on an annualized run rate of US$15M.
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Grown Rogue has reported a record quarterly cash margin of 73%, helping to drive the 5th consecutive quarter of positive adjusted pro-forma EBITDA of $0.2M for the three months ended January 31, 2021. The Company also had it largest pro-forma revenue in Company history in Q1 2020, despite the first quarter being the most challenging due to industry seasonality.
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Grown Rogue has completed its previously announced upsized brokered private placement offering through the issuance of an aggregate of 21,056,890 special warrants at a price of $0.225 for aggregate gross proceeds of $4,737,800.
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