Green Growth Brands Solidifies Nevada Market Position with Award of Seven Additional Cannabis Licenses
Nevada dispensary footprint to be raised to eight
COLUMBUS, Dec. 6, 2018 /CNW/ - Xanthic Biopharma, Inc. d/b/a Green Growth Brands (CSE: GGB) (GGB or the Company) today announced that the Nevada Department of Taxation had awarded it seven retail cannabis dispensary licenses to operate in the state. Through this expansion, GGB has positioned itself to become one of the largest cannabis operators in Nevada.
Peter Horvath, CEO, "Our presence in Nevada has been strategic from the start. With 3 million residents and 42 million annual visitors this is a market like no other, which is why we chose Nevada as the first state where we will present the full expression of our brands, products and services. At maturity, we see Nevada as a consumer market that represents USD$150 to $250 million in revenue potential to GGB with ten or more dispensaries across multiple brand formats."
"We continue to be impressed with the regulatory process in Nevada and feel that these new licenses reflect the confidence officials have in Green Growth Brands and our ability to operate high quality and compliant dispensaries," continued Horvath.
"With the award of seven licenses yesterday, we are accelerating our timeline to realize the full market potential in Nevada. It goes without saying that this degree of organic growth (license awards versus Merger and Acquisition activity) enhances our financial models for achieving growth in both revenue and shareholder value," shared Horvath.
GGB currently operates the premier Cannabis store, The+Source, in Las Vegas, NV and a grow and production facility in Post, NV.
About Green Growth Brands
Green Growth brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by Peter Horvath, the GGB team is full of retail and consumer packed goods experts with decades of experience building successful brands. Join the movement at GreenGrowthBrands.com.
Cautionary Statements:
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend", "forecast" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
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SOURCE Green Growth Brands
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