MEDFORD, Ore. – Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a craft cannabis company operating in Oregon and Michigan, has announced that it has issued a total of 200,000 common shares, at the current market price, to an owner of Golden Harvests, LLC (“Golden Harvests”). The common shares were issued pursuant to an option agreement relating to the prior acquisition of a 60% controlling interest in Golden Harvests by Canopy Management, LLC (“Canopy Management”) in May of 2021. Grown Rogue Unlimited, LLC, a subsidiary of the Company, holds an option to acquire 87% of the membership units of Canopy Management.
The Company has also granted options to purchase an aggregate of 6,400,000 common shares of the Company (the “Stock Options”) to certain directors, officers and employees. The Stock Options are exercisable at a price of $0.15 per share for a period of four years from the date of grant.
The aforementioned issuance of options resulted in certain directors and officers of the Company receiving an aggregate of 4,250,000 Stock Options of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
The common shares described above and the common shares underlying the Stock Options are subject to a four-month and one day hold period.
About Grown Rogue
Grown Rogue International (CSE: GRIN) (OTC: GRUSF) is a craft cannabis company focused on delighting customers with premium flower and flower-derived products at fair prices. Our roots are in Southern Oregon where we have demonstrated our capabilities in the highly competitive and discerning Oregon market and, more recently, we successfully expanded our platform to Michigan. We combine our passion for product and value with a disciplined approach to growth, prioritizing profitability and return on capital. Our strategy is to pursue capital efficient methods to expand into new markets, bringing our craft quality and value to more consumers. We also continue to make modest investments to improve our outdoor craft cultivation capabilities in preparation for eventual interstate commerce.
