GGB Beauty LLC, a subsidiary of Green Grown Brands (CSE:GGB) (OTCQB: GGBXF) (GGB or the Company) announces it has executed a licensing agreement (the Agreement) as of February 6, 2019 with Authentic Brands Group (ABG) and the Greg Norman brand. The Agreement is to develop a line of cannabidiol (CBD) infused personal care products designed for active adult men and women. As part of this arrangement, the Company will be working with Tilray Inc. (NASDAQ: TLRY) (Tilray) as the preferred supplier of the CBD ingredients to be used in these products.
This is the latest in a series of new developments related to GGB’s pipeline of value-creating initiatives and strategic partnerships, including its recent distribution agreement with DSW Inc. Through its subsidiary GGB Beauty, GGB is well-positioned to maximize opportunities in the emerging CBD market following the recently adopted 2018 Farm Bill.
“I played professional golf for 40 years, hitting more than five million golf balls that have caused significant wear and tear on my body,” said Greg Norman, World Golf Hall-of-Fame member. “Having been through it all, on the golf course and in business, I am thrilled to partner with GGB Beauty to distribute Greg Norman® CBD products throughout the country. GGB Beauty was an obvious choice as a partner, as the organization is laser-focused on providing high-quality products and the consummate retail experience for their customers across the United States.”
ABG is a powerhouse brand development, marketing and entertainment company. In addition to the Greg Norman brand, its global portfolio of entertainment and lifestyle brands include icons Muhammad Ali, Marilyn Monroe, Elvis Presley, living legend Shaquille O’Neal, and world-famous fashion, street and active brands such as Nautica, Aéropostale, Nine West, Juicy Couture, Prince, Spyder and other sought-after brands. Launching Greg Norman products into this fast-growing U.S. CBD market aligns with ABG’s strategic growth plan and the expansion of the Greg Norman brand, which is available in over 3,000 retail locations across the United States.
“As part of our stated strategy, we will continue to offer the largest assortment of high-quality CBD-infused personal care products in the industry,” said Peter Horvath, CEO of Green Growth Brands. “This agreement allows us to work with a world-renowned athlete and entrepreneur in Greg Norman while partnering with Authentic Brands Group, who have been the visionaries behind some of the world’s most iconic and celebrated brands. We will also be taking advantage of the relationship between ABG and Tilray to ensure the safety and reliability of our new product line.”
The products are expected to become available later this year.
About Green Growth Brands
Green Growth brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love. Led by Peter Horvath, the GGB team is full of retail and consumer packaged goods experts with decades of experience building successful brands. Join the movement at GreenGrowthBrands.com.
About Authentic Brands Group
Authentic Brands Group (ABG) is a brand development, marketing, and entertainment company, which owns a portfolio of global entertainment and lifestyle brands. Headquartered in New York City, ABG manages, elevates, and builds the long-term value of more than 50 consumer brands and properties by partnering with best-in-class manufacturers, wholesalers, and retailers. Its brands have a global retail footprint in more than 100,000 points of sale across the luxury, specialty, department store, mid-tier, mass, and e-commerce channels and more than 4,600 branded freestanding stores and shop-in-shops around the world. ABG is committed to transforming brands by delivering compelling product, content, business, and immersive brand experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms, and emerging media. ABG’s portfolio of iconic and world-renowned brands includes Marilyn Monroe®, Mini Marilyn®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Michael Jackson® (managed brand), Nautica®, Aéropostale®, Juicy Couture®, Vince Camuto®, Herve Leger®, Judith Leiber®, Frederick’s of Hollywood®, Nine West®, Frye®, Jones New York®, Louise et Cie®, Sole Society®, Enzo Angiolini®, CC Corso Como®, Hickey Freeman®, Hart Schaffner Marx®, Adrienne Vittadini®, Taryn Rose®, Bandolino®, Misook®, 1.STATE®, CeCe®, Chaus®, Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®, Above The Rim®, Hind®, Thomasville®, Drexel®, and Henredon®. For more information, please visit ABG-NYC.com
About Greg Norman
Arguably the most successful athlete-turned-businessman in the world, Greg Norman is known as much for his entrepreneurial spirit in the boardroom as his dominance on the golf course. The internationally renowned “Great White Shark” won more than 90 tournaments worldwide, including two Open Championships, and he holds the distinction of defending his No. 1 position in the world golf rankings for 331 weeks, the second-longest reign in history.
Greg Norman now transcends the game of golf, with over a dozen companies around the world bearing his name and the iconic shark logo as part of the Greg Norman Company, which he leads as Chairman & CEO. His internationally recognized brand boasts more than 100 golf course designs across six continents, a global real estate collection, award-winning wine, golf-inspired lifestyle apparel and a diverse investment division. For more information: www.shark.com
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.