VICTORIA, BC / ACCESSWIRE / January 22, 2019 / Renee Gagnon, Founder and CEO of HollyWeed North Cannabis Inc. ("HollyWeed North"), who entered into an LOI to acquire Women Grow on September 10, 2018, today announced that after the company' conclusion of due diligence, "HollyWeed North has declined to move forward with an offer."
Commenting on the news, Renee Gagnon stated: "Unfortunately, we will not be able to move forward with our Letter of Intent to acquire Women Grow, LLC but we wish the ladies of Women Grow all the best with their future endeavors."
ABOUT HOLLYWEED NORTH
HollyWeed North is a private Canadian company incorporated in British Columbia, established in 2016, specializing in the growth, manufacturing, licensing and production of cannabis and other pharma-grade products through its operating subsidiaries.
HollyWeed North's subsidiaries include:
HollyWeed Manufacturing and Extracts Inc. ("Extracts"), a Health Canada-approved licensed producer, incorporated in British Columbia, specializing in cannabis extraction and product manufacturing.
HollyWeed Grow Inc. ("Grow"), a late stage federal Health Canada license applicant, is incorporated in British Columbia, specializing in the growth of medical cannabis and cannabis products,
HollyWeed Retail Inc. ("Retail"), a retail strategies provider and supply chain management company incorporated in British Columbia.
Hollyweed Bakery Inc. ("Bakery"), a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia.
Terracube International Inc. ("Terracube"), a manufacturer and developer of proprietary scalable, pharma grade clean room grow facilities, incorporated in British Columbia.
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) the contraction or lack of growth of markets in which we compete and in which our products are sold
(ii) unexpected increases in our expenses, including manufacturing expenses, (iii) our inability to adjust spending quickly enough to offset any unexpected revenue shortfall, (iv) delays or cancellations in spending by our customers, (v) unexpected average selling price reductions, (vi) the significant fluctuation to which our quarterly revenue and operating results are subject due to cyclicality in the wireless communications industry and transitions to new process technologies, (vii) our inability to anticipate the future market demands and future needs of our customers, (viii) our inability to achieve new design wins or for design wins to result in shipments of our products at levels and in the timeframes we currently expect, (ix) our inability to execute on strategic alliances, (x) the impact of natural disasters on our sourcing operations and supply chain, and(xi) other factors detailed in documents we file from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
MEDIA CONTACTS:
HollyWeed North Cannabis INC.
Deborah Radel
SOURCE: HollyWeed North Cannabis Inc.
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https://www.accesswire.com/533236/HollyWeed-North-Cannabis-Inc-Decline-to-Move-Forward-with-Letter-of-Intent-to-Acquire-Women-Grow-LLC
