GRN Holding Corporation Executes Binding LOI With 7 Point Financial and 9 Square Consulting

Rhea-AI Summary

GRN Holding Corporation (OTC PINK:GRNF) announced a binding letter of intent to acquire SMLY, Inc., which operates as 7 Point Financial and 9 Square Consulting. This acquisition follows a successful due diligence process conducted earlier this year. 7 Point Financial specializes in financial services for cannabis-related businesses, providing KYC and AML qualification software, payment processing, and payroll solutions. The acquisition includes all assets, licenses, and inventory from the business, aiming to enhance GRNF’s service offerings in the cannabis industry.

Positive

• Acquisition of 7 Point Financial enhances GRNF's portfolio in cannabis financial services.
• Strengthens GRNF's market position by expanding service offerings to cannabis-related businesses.
• Successful completion of due diligence indicates a thorough vetting process.

Negative

• The reliance on the evolving regulatory landscape for cannabis may pose risks.
• Success of the acquisition is uncertain, dependent on future market conditions.

SEATTLE, WA / ACCESSWIRE / August 28, 2020 / GRN Holding Corporation (OTC PINK:GRNF, the "Company"), announced today that the Company has entered into a binding letter of intent to acquire SMLY, Inc. d/b/a 7 Point Financial and 9 Square Consulting. This announcement follows the completion of due diligence by the company earlier this year and will help to define the terms of a mutual definitive agreement to finalize the acquisition.

SMLY, Inc. d/b/a 7 Point Financial and 9 Square Consulting. (www.7pointfinancial.com), is located in Orange County, California. 7 Point Financial provides financial products and services for cannabis/marijuana-related business (MRBs). The company also offers qualification software for KYC and AML purposes for qualified accounts, as well as business checking accounts, electronic payment processing, and payroll services. 9 Square Consulting is a processing and point-of-sale equipment and software company, specializing in point-of-sale systems for B2C and B2B companies utilizing Ariosto software, hardware, and online gateway technologies. The acquisition includes all assets including inventory, licenses, intellectual property and 100% equity in the business.

About GRN Holding Corporation

GRN Holding Corporation (OTC PINK:GRNF) is a Nevada registered publicly-traded company.

For more information, please contact:

Justin Costello
IR@grnholding.com

Forward-looking Statements

This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

SOURCE: GRN Holding Corporation

View source version on accesswire.com:
https://www.accesswire.com/603793/GRN-Holding-Corporation-Executes-Binding-LOI-With-7-Point-Financial-and-9-Square-Consulting

FAQ

What did GRN Holding Corporation announce on August 28, 2020?

GRN Holding Corporation announced a binding letter of intent to acquire SMLY, Inc., which operates as 7 Point Financial and 9 Square Consulting.

What services does 7 Point Financial provide?

7 Point Financial offers financial products and services for cannabis-related businesses, including KYC and AML software, payment processing, and payroll services.

What assets are included in the acquisition by GRNF?

The acquisition includes all assets, inventory, licenses, and intellectual property of SMLY, Inc.

How can investors learn more about GRN Holding Corporation?

Investors can visit GRN Holding Corporation's website or consult their filings on the SEC's website for more information.