Green Hygienics Holdings Inc. Provides a Corporate Update
Potrero, CA, Nov. 01, 2023 (GLOBE NEWSWIRE) -- PUBCOWIRE - Green Hygienics Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is pleased to announce the following Corporate Updates.
As a result of not having filed the April 30, 2022, Form 10-Q and the July 31st, 2022, Form 10-K in the required time frame, the Company was moved to the Expert Market which serves broker-dealer pricing and investor best execution needs. While the Company can provide no assurances as to timing, it is close to finalizing unaudited financials and has engaged legal counsel to assist with filing an application to FINRA to list on to the OTC Pink sheets. Following that the Company plans to audit the financials and complete the appropriate filings as soon as practicably possible to regain its listing on the OTCQB.
During the interim both current and former management have been providing interest free, unsecured cash advances as shareholder loans to pay what is necessary to keep the Company in good standing. Green Hygienics Holdings Inc. filed voluntary on July 11, 2023, to allow the business to reorganize and restructure the debt while receiving protection from creditors.
Management’s opinion is that there is significant equity still in the Company’s California property. The path forward includes several options not exclusive to but including refinancing, sale or sale-leaseback of the property, alternative energy project development such as battery storage and a solar farm and securing offtake agreements for various crops etc. It no longer makes sense to focus solely on the hemp industry. During the last 3 years the average price for CBD biomass has dropped to historical lows due a massive oversupply. Going forward, demand for organic hemp and other related products is expected to improve but it is unreliable. As the property qualifies for USDA Organic Certification the Company will look to diversify into the cultivation of other fruit, vegetable, and plant products.
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For more information visit the Company’s website at www.greenhygienics.com.
Corporate Communications:
IR@GreenHygienics.com
Toll-Free 1.855.802.0299
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements. In evaluating these forward-looking statements, you should consider various factors, including our ability to change the direction of the Company, our ability to keep pace with new technology and changing market needs, and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-look
ing statement.
About Green Hygienics Holdings Inc.
About Green Hygienics Holdings Inc.
"Hygienics" is the science of preserving and promoting the health of individuals, communities, and the planet; it’s our core mission and at the heart of every decision we make as a company. As more and more consumers prioritize their health and demand transparency and integrity from the companies that create their products, Green Hygienics will continue to maintain a commitment to sustainable farming practices, cutting-edge science and industry-leading “Gold Star” standard.
