Green Hygienics Holdings Inc. Closes on Acquisition of Castillo Seed Co. Assets
Green Hygienics Holdings Inc. (OTCQB: GRYN) has successfully acquired assets from Castillo Seed LLC, enhancing its hemp genetics division. The acquisition includes seed inventories, stock plants, and production equipment, which will be relocated to Sol Valley Ranch. The company plans to produce USDA Certified Organic hemp seeds by July 2021, expediting its genetics program by 3-5 years. Green Hygienics aims to solidify its position as a leading certified hemp company as it continues its growth through strategic acquisitions and robust supply chain management.
- Acquisition of Castillo Seed LLC assets enhances hemp genetics division.
- Plans to produce USDA Certified Organic seeds by July 2021, fast-tracking genetic program development.
- Strengthens supply chain for premium hemp cultivation.
- None.
SAN DIEGO, March 16, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Green Hygienics Holdings Inc. (OTCQB: GRYN) ("Green Hygienics" or the "Company") announces today that it has closed the acquisition of certain assets of Castillo Seed LLC. (Castillo), a pioneering hemp seed company with an extensive library of proven genetics backed by years of R&D efforts.
The assets include seed inventories, thousands of stock plants, an established genetics portfolio, and greenhouse and seed production equipment. All acquired assets will be moved to the Company-owned property, Sol Valley Ranch, forming the basis for the Company’s hemp genetics division. Sol Valley Ranch will have in-house compliance and full analytic testing capabilities after completing its field-side laboratory and will immediately begin developing some of the industry’s first USDA Certified Organic hemp seeds.
“We saw an opportunity to fast-track our genetics program by procuring a developed genetics portfolio which will not only save 3-5 years of R&D work but also allow the Company to propagate proprietary USDA Certified Organic seeds as soon as July of this year. USDA stamped seeds are a rare find and it just reaffirms our goal to becoming one of the most highly certified Hemp companies on the planet,” stated Kyle MacKinnon, COO. “Last year in 2020, we showed our ability to cultivate premium hemp and last week the Company acquired Primordia, which included 10,000 acres of legacy farming relationships and a multitude of other beneficial assets, including bulk wholesale finished product inventory. We are now entering a phase of rapid growth through acquisitions and continue to grow our own secure supply chain.”
About Castillo Seed Co.
Castillo operated over 1 million square feet of greenhouses under organic conditions and developed a deep portfolio of genetics for the purpose of selling seeds, seedlings and clones to various customers around the globe.
About Green Hygienics Holdings
Green Hygienic Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is a California-based innovative, technology-driven enterprise focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids. The Company owns the largest single USDA Certified Organic hemp for CBD farm in North America with 824 acres and approx. 400,000 square feet of greenhouse.
The Company’s corporate mission is to adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers as well as to partner with CPG (consumer packaged goods) and pharmaceutical companies.
The Company intends to be a leader in compliances and capabilities in the hemp and cannabinoid supply marketplace. Using state-of-the-art technologies, Green Hygienics intends to open a whole new world of novel cannabinoids and targeted bio-delivery technologies never before explored, solving the issues of stability, pharmacokinetics, biological tissue penetration and bioavailability.
We are building a team of visionary agrotechnology, pharmaceutical and life scientists working at the intersection of nutraceutical, cosmeceutical and pharmaceutical technologies with a goal to improve lives. Hygienics is the science of preserving and promoting the health of individuals, communities and the planet.
For further information about Green Hygienics Holdings Inc., please visit the Company’s website at: www.greenhygienics.com
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Corporate Communications:
Heidi Thomasen
Thomasen Communications
IR@GreenHygienics.com
Toll Free 1.855.802.0299
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This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
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FAQ
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