Article content material
MEDFORD, Ore. — Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a multi-state hashish firm with operations and belongings in Oregon and Michigan, has introduced that it has issued an unsecured non-convertible promissory word to Plant-Based Investment Corp. (the “Lender”) for a principal quantity of US$800,000. The total principal quantity is to be superior in separate tranches on or earlier than September 30, 2021 and is because of be absolutely repaid by December 15, 2022 (“Maturity Date”). No curiosity is payable underneath the word offered there isn’t any occasion of default.
Article content material
The phrases of the word require the Company to make sure participation funds to the Lender primarily based on a proportion month-to-month gross sales of hashish flower offered from the Company’s sun-grown A-flower 2021 harvest (the “Harvest”), much less 15% of such quantity to account for prices of gross sales. The proportion will probably be decided by dividing 2,000 by the whole quantity of kilos of the Harvest. A portion of those funds will probably be used to pay down the excellent principal on a month-to-month foundation. The word will routinely terminate when the total quantity of any excellent principal plus the relevant participation funds are paid previous to the Maturity Date. Should the participation funds absolutely repay the principal quantity previous to the Maturity Date then the word will routinely terminate.
The issuance of the promissory word constitutes a “related party transaction” underneath Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because the lender is a management individual of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval necessities of MI 61-101 contained in part 5.5(b) and 5.7(a) of MI 61-101.
About Grown Rogue
Grown Rogue International (CSE: GRIN | OTC: GRUSF) is a vertically-integrated, multi-state Cannabis household of manufacturers on a mission to encourage customers to “enhance experiences” by way of hashish. We have mixed an professional administration crew, award profitable develop crew, state-of-the-art indoor and outside manufacturing amenities, and client perception primarily based product categorization, to create progressive merchandise thoughtfully curated from “seed to experience.” The Grown Rogue household of merchandise embrace sungrown and indoor premium flower, together with nitro sealed indoor and sungrown pre-rolls and jars.
This press launch comprises statements which represent “forward‐looking information” throughout the that means of relevant securities legal guidelines, together with statements relating to the plans, intentions, beliefs and present expectations of the Company with respect to future enterprise actions. Forward‐ trying data is commonly recognized by the phrases “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or comparable expressions and embrace data relating to: (i) statements relating to the longer term path of the Company (ii) the power of the Company to efficiently obtain its enterprise and monetary goals, (iii) plans for growth of the Company into Michigan and securing relevant regulatory approvals, and (iv) expectations for different financial, enterprise, and/or aggressive components. Investors are cautioned that ahead‐trying data isn’t primarily based on historic info however as an alternative replicate the Company’s administration’s expectations, estimates or projections regarding the enterprise of the Company’s future outcomes or occasions primarily based on the opinions, assumptions and estimates of administration thought-about affordable on the date the statements are made. Although the Company believes that the expectations mirrored in such ahead‐trying data are affordable, such data includes dangers and uncertainties, and undue reliance shouldn’t be positioned on such data, as unknown or unpredictable components might have materials hostile results on future outcomes, efficiency or achievements of the mixed firm. Among the important thing components that might trigger precise outcomes to vary materially from these projected within the ahead‐trying data are the next: modifications typically financial, enterprise and political circumstances, together with modifications within the monetary markets; and particularly within the skill of the Company to boost debt and fairness capital within the quantities and on the prices that it expects; hostile modifications within the public notion of hashish; decreases within the prevailing costs for hashish and hashish merchandise within the markets that the Company operates in; hostile modifications in relevant legal guidelines; or hostile modifications within the utility or enforcement of present legal guidelines; compliance with intensive authorities regulation and associated prices, and different dangers described within the Company’s public disclosure paperwork filed on www.sedar.com.
Article content material
Should a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the ahead‐trying data show incorrect, precise outcomes might fluctuate materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Although the Company has tried to establish essential dangers, uncertainties and components which might trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or meant. The Company doesn’t intend, and doesn’t assume any obligation, to replace this ahead‐trying data besides as in any other case required by relevant regulation.
SAFE HARBOR STATEMENT
This press launch might comprise forward-looking data throughout the that means of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), together with all statements that aren’t statements of historic reality relating to the intent, perception or present expectations of the Company, its administrators or its officers with respect to, amongst different issues: (i) the Company’s financing plans; (ii) developments affecting the Company’s monetary situation or outcomes of operations; (iii) the Company’s progress technique and working technique; and (iv) the declaration and fee of dividends. The phrases “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and comparable expressions and variations thereof are meant to establish forward-looking statements. Also, forward-looking statements symbolize our administration’s beliefs and assumptions solely as of the date hereof. Except as required by regulation, we assume no obligation to replace these forward-looking statements publicly, or to replace the explanations precise outcomes might differ materially from these anticipated in these forward-looking statements, even when new data turns into accessible sooner or later. Investors are cautioned that any such forward-looking statements will not be ensures of future efficiency and contain dangers and uncertainties, a lot of that are past the Company’s skill to regulate, and that precise outcomes might differ materially from these projected within the forward-looking statements on account of numerous components together with the chance disclosed within the Company’s Form 20-F and 6-Ok filings with the Securities and Exchange Commission.
The Company is not directly concerned within the manufacture, possession, use, sale and distribution of hashish within the leisure hashish market within the United States by way of its oblique working subsidiaries. Local state legal guidelines the place its subsidiaries function allow such actions nonetheless, these actions are at the moment unlawful underneath United States federal regulation. Additional data relating to this and different dangers and uncertainties referring to the Company’s enterprise are disclosed within the Company’s Listing Statement filed on its issuer profile on SEDAR at www.sedar.com. Should a number of of those dangers, uncertainties or different components materialize, or ought to assumptions underlying the forward-looking data or forward-looking statements show incorrect, precise outcomes might fluctuate materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated.
No inventory change, securities fee or different regulatory authority has accepted or disapproved the knowledge contained herein.
For additional data on Grown Rogue International please go to www.grownrogue.com.
Chief Executive Officer
Investor Relations Desk Inquiries
make [email protected]