SAN DIEGO, Jan. 14, 2020 (GLOBE NEWSWIRE) — via NetworkWire — Green Hygienics Holdings Inc. (GRYN) (“GRYN” or the “Company”), an innovative premium cannabis cultivation and branding enterprise, is pleased to announce that it has secured an investment from La Jolla, California-based investment firm TRITON FUNDS (“TRITON”).
“We are excited to work with TRITON and its team of vested students, alumni, scientific advisors and industry advisors,” GRYN CEO Ron Loudoun stated. “Additionally, TRITON has an extensive investor network, and we anticipate these assets will help bring more awareness to the Company while potentially opening some new relationships for business development.”
TRITON will assume an advisory board role with GRYN and purchase a promissory note in the principal amount of up to $750,000, which is convertible into common shares at a conversion price of $2.50 per share, and a warrant to purchase up to 250,000 common shares at an exercise price of $3.00 per share. The note and the warrant are subject to vesting conditions in accordance with the terms of the transaction documents.
Additionally, GRYN announces its new corporate website URL, www.GreenHygienics.com
About TRITON FUNDS LLC
TRITON FUNDS LLC is the largest student-run fund manager in the USA. Founded by undergraduates from the University of California, San Diego, TRITON FUNDS provides students the invaluable opportunity to gain real-world experience investing alongside experienced financial professionals. It invests in high performing teams with revolutionary aspirations to grow their company into industry leaders. TRITON FUNDS creates an ecosystem that assists talented entrepreneurs in successfully growing their ideas and maintaining strong community ethical standards. It provides strategic capitalization, business development support, and engineered exits to organizations that have a viable future in the modern economy. More information can be found at www.tritonfunds.com.
About Green Hygienics Holdings Inc.
Green Hygienics Holdings Inc. (GRYN) (“GRYN” or the “Company”) is an innovative, full-scope, science-driven, premium hemp branding enterprise focused on the cultivation and processing of industrial hemp for cannabidiol (“CBD”). The Hemp Farming Act of 2018 removed hemp from Schedule I controlled substances (defined as cannabis with less than 0.3% THC), making it an ordinary agricultural commodity.
Our mission is to grow the Company in a sustainable and profitable manner to be one of the largest industrial hemp for CBD producers in North America. The Company will adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers. The Company intends to be a leader in FDA cGMP (Current Good Manufacturing Practice) capabilities in the hemp and CBD marketplace. The Company’s business model includes generating revenues from the sale of hemp and premium-grade CBD products, creating trusted global consumer brands; developing valuable IP, and growing the Company rapidly through strategic acquisitions. For more information, visit: www.GreenHygienics.com
Safe Harbor Statements
Certain information contained in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates,” “intends” or “believes,” or that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur,” or “be achieved.” Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the alternative medicine industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.