GGB stock is reacting positively this morning after Green Growth Brands (CSE:GGB) (OTCQB:GGBXF) announced the addition of its second major mall operator for CBD personal care products distribution.
Important Partnership
Green Growth Brands has been one of the most compelling stories in the cannabis industry for some time, and the company has continued its rapid expansion.
In a new development, the company has announced another important partnership that could propel Green Growth to new heights. Through the new agreement with Brookfield Properties, GGB will now be able to open as many as 70 shops in shopping centers managed by the real estate developer in the United States. The United States is the most important battleground for cannabis companies, mostly due to how lucrative a market it has the potential to be, and Green Growth has big plans in store for 2019.
The company plans to have a toehold in as many as 280 retail locations by the end of the year and needless to say, that is a significant development.
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The partnership with Brookfield could help Green Growth to plant retail locations in all the major community hubs in the United States, which could eventually lead to massive growth. However, that is not all. Earlier this month, Green Growth made another significant announcement, when it acquired Spring Oaks Greenhouses and made a grand entry into Florida, one of the most important markets for cannabis companies.
Green Growth Brands stock is trading higher by 3% at $2.62 on the OTC market. On the Canadian side, GGB stock is up 2.80% and now trading at $3.48.
The acquisition has the potential of making Green Growth one of the more important players in the industry. Spring Oaks can open as many as 35 dispensaries in the state and can increase it to 40 in the future, depending on the number of patients. Spring Oaks not only has the license to operate medical marijuana dispensaries, but it has also acquired license-run marijuana treatment centers. All that will now pass on to Green Growth Brands, and in addition to that, the dispensary license is also effectively a permit to start cannabis production.
GGB stock has gained almost 25% since early December.
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