VANCOUVER, Canada, HAMBURG and BERLIN, Germany– November 11th 2022, Greenrise Global Brands Inc. (Frankfurt: C4T, ISIN: CA39540L1085) (CSE: XCX) (“Greenrise”) announces it has sold 20% equity interest in CannaCare Health GmbH (“CannaCare”) to an arm’s length party for total proceeds of €250,000. After the sale, Greenrise will own 31% of CannaCare. Proceeds from the sale will be used for working capital purposes.
About Greenrise Global Brands Inc.
Greenrise is a Canadian publicly traded investment holding company with investments in CannaCare Health GmbH, a Hamburg-based producer and supplier of CBD wellness products and AMP Alternative Medical Products GmbH, an Erfurt-based importer and distributor of EU-GMP medical cannabis to pharmacies.
For more information, please visit: www.greenriseglobal.com
Dr. Stefan Feuerstein, CEO and Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans and milestones and the timing thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements, and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
SOURCE Greenrise Global Brands Inc.