Mr. Kyle Kazan reports
ELEMENT 7, APB AND GH GROUP ENTER INTO A SETTLEMENT AND GENERAL MUTUAL RELEASE AGREEMENT
On Sept. 19, 2023, Element 7, APB and Glass House Brands Inc.'s GH Group entered into a settlement and general mutual release agreement, where Element 7 agreed to pay GH Group $2,865,000 to settle the Element 7 proceeding; provided, that if Element 7 pays GH Group $1,865,250 by Dec. 15, 2023, then Element 7 shall be entitled to a credit of $999,750 toward the $2,865,000 payment. In addition, Element 7 retains ownership of its retail licences, and will take title in a property from a GH Group affiliate in Firebaugh in connection with the Element 7 settlement.
About Glass House Brands
Inc.
Glass House is one of the fastest-growing, vertically integrated cannabis companies in the United States, with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. From its greenhouse cultivation operations to its manufacturing practices, from brand building to retailing, the company's efforts are rooted in the respect for people, the environment and the community that co-founders
Kyle Kazan, chairman and chief executive officer, and
Graham Farrar, board member and president, instilled at the outset. Through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell, Forbidden Flowers, Field and Mama Sue Wellness, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all.
© 2024 Canjex Publishing Ltd. All rights reserved.