COLUMBUS, OH, Jan. 7, 2020 /PRNewswire/ - Green Growth Brands Inc. (GGB or the Company) (CSE: GGB) (OTCQB: GGBXF) is pleased to share statistics from its first full holiday season and from its second fiscal quarter ended December 28, 2019.
Seventh Sense Botanical Therapies CBD
- Over 128,000 Seventh Sense Botanical Transactions were processed between Black Friday and December 28, 2019.
- Seventh Sense offered three holiday-exclusive items: the Pebble Lip Balm, Therapeutic Starter and the Lip and Body gift sets.
- Bestselling Seventh Sense products included the 1,500 mg Hyperstrength Cream, the Therapeutic Starter gift set and the Unwind Sleep Blend Roll-On.
- Over 85,000 consumers received a Seventh Sense direct mail piece detailing the product line and holiday offerings.
- The Seventh Sense customer database grew by 42% between Black Friday and December 28, 2019.
- As of December 28, 2019, the Company operates 195 mall-based Seventh Sense shops in 35 states, including 54 new shops that opened during second quarter fiscal 2020.
- There were 494 CBD product customer reviews during second quarter fiscal 2020, averaging 4.53 out of 5 stars.
The+Source Cannabis Dispensaries
- More than 62,000 total transactions were processed at the two The+Source dispensaries between Green Wednesday (November 27, 2019) and December 28, 2019.
- On Green Wednesday alone, over 3,300 transactions were processed.
- The Company offered nine exclusive-to-The+Source holiday products, including 8 Fold strains "Holiday Hangover" and "Silent Night", a variety of gift sets including "The 12 J's of Christmas", and seasonally flavored edibles and accessories.
- During the month of November, approximately 28% of sales consisted of in-house brands CAMP, 8 Fold and Seventh Sense, compared to about 11% last year.
"Our ability to capitalize on the holiday shopping season is a reflection of our retail and operations expertise," said Peter Horvath, CEO of Green Growth Brands. "We are pleased with the performance of both business segments and particularly excited by the consumer demand signals we saw in CBD. We have brought together high-quality CBD, high-efficacy personal care formulations, familiar packaging, top-tier retail presentations, and fair, everyday-value prices to create products that consumers from all walks of life are really responding to.
"This is just the beginning," added Horvath. "This holiday introduced our products to a tremendous number of new consumers. We are looking forward to their product reviews, suggestions for new formulations, and re-orders. Thank you to our customers, employees, and partners for making this holiday a success."
The Company expects to announce timing of its second quarter fiscal earnings release in the near future.
About Green Growth Brands Inc.
Green Growth Brands creates remarkable experiences in cannabis and CBD. Led by CEO Peter Horvath and a leadership team of consumer-focused retail experts, the company's brands include CAMP, Seventh Sense Botanical Therapy, The+Source, Green Lily, and 8 Fold. The Company also has a licensing agreement with the Greg Norman™ Brand to develop a line of CBD-infused personal care products designed for active wellness. GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida and the largest network of CBD shops in malls across the country and ShopSeventhSense.com. Learn more about the vision at GreenGrowthBrands.com.
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 favorable 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, including those factors described under the heading "Risks Factors" in the Company's Annual Information Form dated November 26, 2018 which is available on the Company's issuer profile on SEDAR.
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, including, but not limited to, the Company's ability to execute on its growth strategy, the Company's plan to open new dispensaries in the remainder of the calendar year, the Company's vision to become a multi-state operator with retail stores exceeding certain financial thresholds 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