Greenrose Acquisition Corp. Announces Extension of Time to Consummate Business Combinations
October 13 2021 - 10:30AM
Greenrose Acquisition Corp. (OTC: GNRSU, GNRS, GNRSW) (“Greenrose”
or the “Company”), a special purpose acquisition company targeting
companies in the cannabis industry, provided notification to
Continental Stock Transfer & Trust Company that it was
exercising its option to extend the time available to consummate
its previously announced business combinations to November 13, 2021
and deposited $569,250 into the Trust Account.
No Offer or Solicitation
This communication shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall it constitute a solicitation of votes or proxies in
connection with any meeting of the stockholders of Greenrose.
Advisors
Imperial Capital, LLC is acting as capital
markets advisor to Greenrose. Gateway Group is serving as
communications advisor to Greenrose. Mackenzie Partners and
Broadridge Financial Solutions are acting as proxy advisors to
Greenrose in connection with its proxy solicitation efforts.
About Greenrose
Greenrose Acquisition Corp. is a blank check
company organized for the purpose of effecting a merger, share
exchange, asset acquisition, stock purchase, recapitalization,
reorganization, or other similar business combination with one or
more businesses or entities. Greenrose has entered into definitive
agreements to acquire four cannabis companies, known collectively
as “The Platform.” The companies are Shango Holdings Inc. (Shango),
Futureworks LLC (d/b/a The Health Center), Theraplant, LLC and True
Harvest, LLC. The new Greenrose Platform will be a multistate
operator that will look to further vertically and horizontally
integrate in the markets that it is in and to enter new high growth
and limited license markets.
Forward-Looking Statements
Certain statements made in this release are
"forward looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose" and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Greenrose's or its target
companies’ control, that could cause actual results or outcomes to
differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include: any inability to obtain Greenrose
stockholder approval of the business combinations, any inability to
complete the transaction contemplated by each of the respective
merger or acquisition agreements because of failure of closing
conditions or other reasons; any inability to recognize the
anticipated benefits of the proposed business combinations, which
may be affected by, among other things, the amount of cash
available following any redemptions by Greenrose stockholders;
liquidity of Greenrose's stock; costs related to the proposed
business combinations; Greenrose's ability to manage growth;
Greenrose's ability to identify and integrate other future
acquisitions; rising costs adversely affecting Greenrose's
profitability; competition in the legal cannabis industry; adverse
changes to the legal environment for the cannabis industry; and
general economic and market conditions impacting demand for
Greenrose's products and services. See the risk factors disclosed
in the preliminary proxy statement for the business combinations
for additional risks associated with the business combinations.
None of Greenrose, Shango Holdings Inc., Futureworks LLC (d/b/a The
Health Center), Theraplant, LLC, or True Harvest, LLC undertakes
any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. Readers should not unduly rely on any
projections or other forward-looking statements or data contained
herein.
Additional Information About the
Proposed Business Combination and Where to Find It
For additional information about the proposed
business combinations, see Greenrose’s Definitive Proxy Statement
on Schedule 14A filed with the SEC on October 5, 2021 available at
www.sec.gov.
The proposed transactions will be submitted to
shareholders of Greenrose for their approval. In connection with
the proposed business combinations, Greenrose will file with the
SEC a preliminary and definitive proxy statements in connection
with a special meeting of the stockholders of Greenrose to consider
and vote on the business combination and related matters. Greenrose
will mail the definitive proxy statement and other relevant
documents to its stockholders in connection with the meeting.
Investors and security holders of Greenrose are advised to read,
when available, the draft of the preliminary proxy statement, and
amendments thereto, and the definitive proxy statement, which will
contain important information about the proposed business
combinations and the parties to it. The definitive proxy statement
will be mailed to stockholders of Greenrose as of a record date to
be established for voting on the proposed business combinations.
Stockholders will also be able to obtain copies of the proxy
statement, without charge, once available, at the SEC's website at
www.sec.gov or by directing a request to: Greenrose Acquisition
Corp., 111 Broadway, Amityville, NY 11701, Attention: Chief
Executive Officer.
Participants in the
Solicitation
Greenrose, True Harvest and Theraplant, and
their respective directors, executive officers and other members of
their management and employees, under SEC rules, may be deemed to
be participants in the solicitation of proxies of Greenrose
stockholders in connection with the proposed business combinations.
Investors and security holders may obtain more detailed information
regarding the names, affiliations and interests of Greenrose’s
directors in the final prospectus for Greenrose’s initial public
offering dated as of February 11, 2020, and that was filed with the
SEC on February 11, 2020, as well as in its annual report on Form
10-K filed with the SEC on March 11, 2021. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests will be
contained in the preliminary and definitive proxy statements
related to the proposed business combinations when it becomes
available, and which can be obtained free of charge from the
sources indicated above.
Investor Relations Contact:Gateway Investor
RelationsCody Slach or Jackie Keshner(949)
574-3860GNRS@gatewayir.com
Greenrose Contact:Daniel HarleyExecutive Vice
President, Business Development(516)
307-0383ir@greenrosecorp.com
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