Livewire Signs Agreement to Acquire Majority Equity Stake in Los Angeles Cannabis Direct-to-Consumer Delivery Company Green Eagle and Establishes Sales Channel for the “Estrella Weedery” Brand
LiveWire Ergogenics Inc. (OTC: LVVV) has announced its agreement to acquire a majority stake in Green Eagle Cannabis Delivery in Los Angeles. This strategic acquisition aims to enhance LiveWire's direct-to-consumer sales channels for its Estrella Weedery brand. The CEO, Bill Hodson, noted that Green Eagle is poised for revenue generation in Q2 2023, following the issuance of necessary permits. The delivery service will cover key areas in Los Angeles County, tapping into the nation’s largest cannabis market. The acquisition is subject to Green Eagle meeting specific financial milestones.
- Acquisition of Green Eagle enhances direct-to-consumer sales for Estrella Weedery.
- Green Eagle positioned to generate significant revenue in Q2 2023.
- Access to the largest cannabis market in the U.S. increases growth potential.
- None.
Anaheim, CA, March 07, 2023 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, leasing, and licensing special purpose real estate properties and operations conducive to producing high-quality, handcrafted, and organically grown specialty cannabis products for medical and recreational adult-use in California, today announces that has entered into an agreement to acquire a majority equity stake in the Green Eagle Cannabis Delivery company in Los Angeles, California.
Bill Hodson, CEO of LiveWire, states, "We have been closely monitoring Green Eagles' business plan implementation from its inception several years ago and throughout the complicated and lengthy permitting process with the city of Los Angeles. With permits now issued and operations commenced, Green Eagle is in an ideal position to fill an existing vacuum for direct-to-customer delivery in Los Angeles and the entire LA County. Accordingly, we expect the company to generate significant revenue already during the second quarter of 2023. This acquisition establishes a dependable direct-to-consumer sales channel for our “Estrella Weedery” brand. The final execution of the Agreement is subject to Green Eagle meeting specific financial milestones and other conditions to be met. We expect that the conditions for execution of the final agreement will be met quickly, and the entire process to be finalized by the end of Q2 2023. We look forward to integrating Green Eagle into our family of Livewire companies and brands.”
GREEN EAGLE DELIVERY is a new brand of direct-to-consumer cannabis distribution and delivery company. It has obtained a cannabis delivery service license from the City of Los Angeles and the State of California. It will immediately commence with delivery services covering the cities of Los Angeles, Pasadena, and Glendale and eventually service the entire Los Angeles County, the largest cannabis market in the United States. Green Eagle offers a wide range of lab-tested cannabis products, such as vapes, pre-rolls, edibles, and concentrates, delivered directly to the customer’s home or office with payments accepted via cash or credit cards. Green Eagle will deliver products from most leading cannabis brands in California and will put a special spotlight on our exceptional “Estrella Weedery” products. The company is located in a West Los Angeles retail complex in a secured building on a large lot with advanced security features configured to create optimal conditions for surveillance and security.
The Livewire Estrella Ranch Weedery
Estrella Ranch is a historic ranch property in Paso Robles, the center of California wine country. Together with its subsidiary Estrella Ranch Partners, Livewire has transformed this stunning property into the world's first "Estate Grown Weedery™," with three acres of high-end, organic sun-grown cannabis products. Estrella Ranch is the central hub for all Livewire operations in California, and plans to eventually develop it into the ultimate Cannabis tourist and education destination. Estrella Ranch shares valuable resources as needed with Livewire’s subsidiary Makana Ola Ranch in Humboldt, California, the birthplace of California's cannabis cultivation. Makana Ola cultivates under a well-guarded secret of unique marijuana horticulture with a long tradition of quietly growing amongst the giant redwoods. The Livewire “Estate Grown Weedery” cultivation process focuses on the cost-effective production of the best quality organic-style cannabis in California while generating the smallest possible carbon footprint using as few of California's energy resources as possible. Visit https://estrellariverfarms.com.
About LiveWire Ergogenics Inc.
Livewire focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations of fully compliant facilities to produce high-quality cannabis-based products for statewide distribution in California. This includes developing and licensing organic-style grown cannabinoid-based specialty products and services to create the high-quality "Estrella Weedery™" brand. These products are currently cultivated by Livewire’s subsidiary/affiliate companies Estrella Ranch Partners, Estrella River Farms, and Makana Ola Farms and distributed and delivered direct-to-consumer by its subsidiary Green Eagle in Los Angeles. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements
This release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements, predictions, and projections are inherently uncertain as they are based on current expectations and assumptions concerning the successful execution of planned future events or the Company's general future performance. Readers are cautioned not to rely on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
| LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806 714-740-5144 www.livewireergogenics.com info@livewireergogenics.com | MARKET AWARENESS Stockwatchindex, LLC 442-287-8059 www.stockwatchindex.com info@stockwatchindex.com | LIVEWIRE INVESTOR RELATIONS Tristan Cavato (805) 835-2415 ir@livewireergogenics.com info@livewireergogenics.com |
FAQ
What is the significance of LiveWire's acquisition of Green Eagle (LVVV)?
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