Pure Harvest Signs Letter of Intent to Acquire Peak Holdings
Pure Harvest Corporate Group, Inc. PHCG Walk ined in a letter of intent with Peak Holdings, LLC, Cannabis Venture Capital, Inc. and Peak North, LLC, a Colorado-based cannabis company with operations in Arizona and New York.
On March 24, 2022, Pure Harvest Corporate Group entered into a non-binding letter of intent with Peak, acquire a 51% interest in the assets of Peak and expand Pure Harvest’s presence inside and outside the State of Colorado. The Peak deal add two retail outlets to Pure Harvest’s marijuana operation in Colorados. One of these dispensaries is located on Broadway Ave., Denver’s famous Green Mile, and will provide Pure Harvest with access to the largest retail market in the state. Peak’s other dispensary is located in Sedgwick, Colorado, on the Nebraska border, and serves the eastern Colorado market.
“We are very pleased to partner with Pure Harvest to create a national cannabis company based right here in Colorado,” said Justin Henderson, CEO of Peak Holdings, LLC. “We have been looking to enter the public markets for some time and I believe that our partnership with Pure Harvest will enable us to implement our combined vision of building a highly successful multi-state operator. We have big plans for expansion in the coming years and I believe this acquisition will allow us to achieve our goals much faster than originally planned.
In addition to its operations in Colorado, Peak has an interest in an Arizona product manufacturer and an agreement with a Holder of a New York license to manufacture and sell cannabis products in the State of New York, pending regulatory approval. Peak and Pure Harvest plan to expand further out of Colorado, Arizona and New York over the next few years to establish a larger national footprint for its operations.
“With this acquisition, Pure Harvest is poised to increase the size of its operations in Colorado and begin laying the foundation for national expansion,” said Matthew Gregarek, CEO of Pure Harvest Group, Inc. “This transaction will allow us to tap into two exciting retail markets in Colorado and gain access to two out-of-state markets with tremendous growth potential. Adding Peak to the Pure Harvest family of companies will significantly change our cannabis business operations in 2022.”
Photo by CRYSTALWEED cannabis on Unsplash
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