Mercer Park Brand Acquisition Corp. (NEO: BRND.A.U; OTCQX: MRCQF; “BRND” or the “Company”), a Special Purpose Acquisition Company (SPAC) which has entered into a definitive agreement to merge (the “Glass House Group Transaction”) with GH Group, Inc. (“GH Group”), California’s leading fully-integrated cannabis business, is updating the status of its proposed merger with GH Group.
The Company and GH Group have agreed that the closing conditions of the transaction have been met and have set a closing date of on or about June 29, 2021. An amended Merger Agreement (and an amended form of Investor Rights Agreement) containing minor modifications to facilitate closing arrangements will be filed with Canadian securities regulatory authorities shortly.
As previously announced, with the business combination the Company and GH Group intend to create the largest cannabis brand-building platform in California, the world’s largest cannabis market.
GH Group will support its existing and future portfolio of brands with unmatched capacity and distribution in the state. The combined company has planned expansions to reach 6 million ft2 of cultivation in state-of-the-art greenhouses, representing by far the largest capacity of any cannabis operator in California and an anticipated retail footprint of 21 operational dispensaries by Q1 2022, more than double the next largest retail operator in the state.
