LANSING, Mich., May 13, 2019 /PRNewswire/ -- Green Peak Innovations, Michigan's largest holder of vertical medical marijuana licenses, announced today that it has entered into a definitive agreement to acquire a company which holds a vertical cannabis license in the state of Florida. The close of the transaction is subject to certain preconditions and regulatory approval. Details are confidential.
This transaction will give Green Peak Innovations one of only 22 vertical licenses in Florida, the third largest cannabis market in the United States.
"As a strategically focused multi-state operator, Florida fits perfectly into Green Peak's portfolio as a first step in expanding our presence beyond Michigan, the country's second largest cannabis market," said GPI CEO Jeff Radway. "We are aggressively pursuing the establishment of operations in Florida to fast-track the implementation of our model in the state. We look forward to serving the patients of Florida very soon with the highest quality medical cannabis products."
The transaction is expected to close in the third quarter.
ABOUT GREEN PEAK INNOVATIONS
Green Peak Innovations uses nature, science and agricultural best practices to raise cannabis industry standards. We're building state-of-the-art facilities and using advanced technology to cultivate high-quality medicine that is safe for our patients, our communities and our state. Green Peak Innovations Global Headquarters is located in Windsor Township, Michigan, and is led by CEO Jeff Radway. For more information, visit greenpeakinnovations.com.
MEDIA CONTACT: Colleen Robar, 313-207-5960, firstname.lastname@example.org
SOURCE Green Peak Innovations