Pure Harvest Corporate Group, Inc. (OTCQB: PHCG), a medical cannabis holding company providing hemp-derived health and wellness products to qualified recipients across the U.S., has announced its entrance in a LOI with Peak Holdings, LLC (“Peak”), Cannabis Venture Capital, Inc., and Peak North, LLC.
The non-binding agreement will entail an acquisition of 51% of Peak’s assets as well as add two retail outlets to Pure Harvest’s operations in Colorado. Both establishments are located in profitable areas that will cater to larger cannabis markets in the state.
This is Pure Harvest’s first LOI since November 2021, when it signed an agreement with Green Farms, LLC to help make new acquisitions in Colorado. Pure Harvest plans on expanding its market into Arizona and New York, where Peak has begun setting into motion some manufacturing and licensing to sell cannabis products.
“With this acquisition, Pure Harvest is ready to increase the size of its Colorado operations and begin laying the foundation for a national expansion,” said Matthew Gregarek, CEO of Pure Harvest Group, Inc. Mr. Gregarek also added that Pure Harvest’s partnership with Peak will “noticeably change” business operations as the year progresses.
Peak CEO Justin Henderson added that “Partnering with Pure Harvest will allow us to implement our combined vision of building a highly successful multi-state operator. We have big plans for expansion in the coming years and I think this acquisition will allow us to realize our goals much faster than we originally planned.”
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