SAN DIEGO, March 05, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Green Hygienics Holdings Inc. (OTCQB: GRYN) ("Green Hygienics" or the "Company") announces today that after months of negotiation and diligence, it has closed the acquisition of certain assets of Primordia, a seed-to-soil, single-origin hemp supply company (https://www.primordia.eco/), with a combination of cash and other future rights and entitlements. Primordia will continue with its remaining operations under a different name but will not compete with Green Hygienics in this sector.
The assets include inventory, equipment, brands and trademarks, an e-commerce site and customer base, as well as relationships that will provide a significant capacity for large-scale cultivation of over 10,000 acres of legacy farmland.
“We are at the forefront of a growing, dynamic new sector within the biotech industry. The demand side continues to grow rapidly, while on the supply side the learning curve is steep and opportunities for valued acquisitions will arise,” said Green Hygienics CEO Ron Loudoun. “Our first e-commerce site is for the boutique brand Sol Valley Ranch, and the Primordia acquisition will target farm-direct bulk wholesale buyers. When you consider the improved ROI created through sales of finished product, it makes sense to develop or acquire a portfolio of e-commerce sites that target specific market segments. This acquisition will generate immediate cash flow for Green Hygienics.”
In 2019, Primordia announced its official launch into the rapidly growing industrial hemp and CBD market with over 10,000 acres of legacy farmland and infrastructure ideal for hemp cultivation in the Imperial Valley. The company benefits from a 365-day cultivation window and has developed proprietary hemp strains tailored for the region alongside integrated post-processing and extraction facilities. The first crop was granted USDA Certified Organic status. Since its inception, Primordia has grown over 2,000 acres of industrial hemp in the Imperial Valley of California and has produced a wide range of derivatives for the burgeoning cannabinoid market. The business is vertically integrated, with operations on-site including genetic development, seed propagation, cultivation, harvesting, drying, milling, testing and extraction. The company is now selling multiple products, including broad spectrum THC-free distillate, CBD isolate, water soluble extracts, viable high-CBD seed, certified organic biomass and winterized crude, and it is also taking custom orders for finished products like tinctures and topical lotion.
For more information, visit https://www.primordia.eco/.
About Green Hygienics Holdings
Green Hygienic Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is a California-based innovative, technology-driven enterprise focused on the high standard cultivation and processing of industrial hemp and manufacturing of pharmaceutical-grade bioactive cannabinoids.
The Company’s corporate mission is to adhere to the highest standards of operations in consistently delivering safe and premium-quality products to consumers as well as to partner with CPG (consumer packaged goods) and pharmaceutical companies.
The Company intends to be a leader in compliances and capabilities in the hemp and cannabinoid supply marketplace. Using state-of-the-art technologies, Green Hygienics intends to open a whole new world of novel cannabinoids and targeted bio-delivery technologies never before explored, solving the issues of stability, pharmacokinetics, biological tissue penetration and bioavailability.
We are building a team of visionary agrotechnology, pharmaceutical and life scientists working at the intersection of nutraceutical, cosmeceutical and pharmaceutical technologies with a goal to improve lives.
Hygienics is the science of preserving and promoting the health of individuals, communities and the planet.
For further information about Green Hygienics Holdings Inc., please visit the Company’s website at: www.greenhygienics.com
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