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.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

SOURCE Green Growth Brands

For further information: For investor relations inquiries, please contact: Julia Fulton, Investor & Public Relations, (614) 505-9880, [email protected]; or Eric Wright, 416-640-2963, [email protected]; For Canadian media enquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications, 416-710-3370, [email protected]; For US media enquiries or interviews, please contact: Natalie Kelley, Allison + Partners, 503-544-3824, [email protected]

Related Links

https://www.greengrowthbrands.com/

