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Green Rise Foods Inc. V.GRF

Consumer Defensive Farm Products
Green Rise Foods Inc. is a Canada-based controlled-environment agriculture grower of fresh produce. The Company wholly owns about 72 acres of greenhouse ranges and an additional 15-acre organic range leased to Mastronardi Produce Ltd. The Company is a grower of fresh produce with about 89 acres of greenhouse ranges, including a 51- acre greenhouse (Green Rise 1) located in Leamington, Ontario, and a 22-acre and a 16-acre greenhouse (Green Rise 2 and Green Rise 3), both located in Kingsville, Ontario. The seasonal operation consists of the growing, packaging and the sale of produce. Green Rise 1 grows medley and piccolo varieties. The Company also leases 15-acres of its GR1 greenhouse to one customer, who is growing organic peppers. Its products include One Sweet Peppers, MiMi Gourmet Tomatoes, Zima, XL Beef, Wild Wonders, Honey Bombs, and Mini Kumato.


TSXV:GRF - Post by User

Green Rise Foods Inc.
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Post by Betteryear2on Apr 06, 2022 5:30pm
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Post# 34582197

Acquisition of 16-Acre Greenhouse and Provides Update

Acquisition of 16-Acre Greenhouse and Provides Update Toronto, Ontario--(Newsfile Corp. - April 6, 2022) - Green Rise Foods Inc. (TSXV: GRF) ("Green Rise" or the "Company") is pleased to announce that it has entered into a definitive asset purchase agreement with 2073834 Ontario Limited (the "Vendor"), with effect as of and from April 1, 2022, to acquire a 16-acre greenhouse range ("Green Rise 3" or "GR3") located on a 34-acre farm in Kingsville, Ontario for cash consideration of approximately CDN$15 million (the "GR3 Acquisition"). The Company intends to fund the GR3 Acquisition with conventional mortgage financing and expects the GR3 Acquisition to close in the second half of May 2022, subject to notice to, and the approval by, applicable securities law regulatory authorities including the TSXV and the satisfaction of any requirements of such authorities. The transaction is also conditional upon satisfactory due diligence, formal board approval and other usual conditions.

https://www.newsfilecorp.com/release/119577

 
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