Green Growth Brands (CSE: GGB) released a corporate update this evening, identifying that chief executive officer Peter Horvath has left the company immediately, which includes departing from his role as a director on the firms board.
A reason was not provided for Horvath’s departure from Green Growth Brands. Taking his place will be that of Randy Whitaker, whom is currently the chief operating officer of Green Growth Brands. Whitaker will be taking on the role on an interim basis. A replacement has not been named for Horvath’s role on the firms board.
In addition to the departure of the CEO, the company also announced that in light of the ongoing coronavirus pandemic, its CBD operation is effectively closed for business. The business unit has closed all retail locations due to their prominence within malls, and the company has also closed down its e-commerce platform temporarily. The sale of the unit to BRN Group is still expected to proceed as planned, while the company continues to “solicit and evaluate any potential superior offers.”
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The firms Nevada cannabis operations remain open, subject to directives from local authorities.
Green Growth Brands last traded at $0.09 on the CSE.
Information for this briefing was found via Sedar and Green Growth Brands. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
