Green Hygienics Holdings Inc. Provides a Corporate Update

Rhea-AI Summary

Green Hygienics Holdings Inc. announces corporate updates, including its move to the Expert Market due to delayed filings, engagement of legal counsel to list on the OTC Pink sheets, and plans to regain its listing on the OTCQB. The company has received shareholder loans to stay in good standing and filed for voluntary reorganization and debt restructuring. It plans to explore options such as refinancing, sale or sale-leaseback of its California property, and diversify into other crops. AlphaBull is selected as the communications solutions provider for shareholder communications and investor relations support.

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. 

 

Green Hygienics has selected AlphaBull, a leading communications solutions provider specializing in services for public companies, to support shareholder communications and to bolster investor relations support. With a distinctive approach that combines storytelling and strategic communications, AlphaBull assists organizations in effectively conveying their vision, business achievements, and shareholder value. Dedicated to partnering with companies that prioritize authentic shareholder value creation, AlphaBull designs comprehensive campaigns that span multiple platforms and dimensions. For additional information, please visit publiccompany.us, publiccompanypr.com, and pubcowire.com. 

 

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.

What is the company name mentioned in the press release?

The company mentioned in the press release is Green Hygienics Holdings Inc.

What market did the company move to?

The company moved to the Expert Market.

What is the purpose of engaging legal counsel?

The company engaged legal counsel to assist with filing an application to FINRA to list on the OTC Pink sheets.

What is the company's plan to regain its listing on the OTCQB?

The company plans to audit the financials and complete the appropriate filings to regain its listing on the OTCQB.

What did the company file for on July 11, 2023?

The company filed for voluntary reorganization and debt restructuring on July 11, 2023.

What options is the company considering?

The company is considering options such as refinancing, sale or sale-leaseback of its California property, alternative energy project development, and securing offtake agreements for various crops.

Why does the company no longer focus solely on the hemp industry?

The company no longer focuses solely on the hemp industry due to the drop in average price for CBD biomass and the unreliable demand for organic hemp and related products.

Who is selected as the communications solutions provider?

AlphaBull is selected as the communications solutions provider.

What services does AlphaBull provide?

AlphaBull specializes in services for public companies, including shareholder communications and investor relations support.

What is the contact information for Green Hygienics Holdings Inc.?

For additional information, please visit publiccompany.us, publiccompanypr.com, and pubcowire.com. For more information, visit the Company's website at www.greenhygienics.com. Corporate Communications: IR@GreenHygienics.com Toll-Free 1.855.802.0299