Mercer Park Brand Acquisition Corp. Announces Shareholder Approval of Transaction with Glass House Group
TORONTO, June 03, 2021 (GLOBE NEWSWIRE) -- 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.
On June 2, 2021, the holders of the Company’s class A restricted voting shares and class B shares (collectively, the “Shareholders”) approved the Glass House Group Transaction. In addition, the Shareholders approved the resulting company’s proposed equity incentive plan and the election of Kyle Kazan, Graham Farrar, Jamie Mendola, Jocelyn Rosenwald, Lameck Humble Lukanga, George Raveling, Bob Hoban and Hector De Le Torre as directors, subject to and conditional upon the closing of the Glass House Group Transaction.
As previously announced, the Company and GH Group announced a business combination 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.
Holders of the Company’s class A restricted voting shares had until 5:00 p.m. (Toronto time) on June 2, 2021 to deposit their class A restricted voting shares for redemption and may withdraw their tender prior to June 7, 2021 at 5:00 p.m. (Toronto time). The Company expects to announce the number of class A restricted voting shares that have been validly deposited for redemption and not withdrawn on June 8, 2021.
The Company encourages shareholders to remain fully invested through the closing of the Glass House Group Transaction.
About Mercer Park Brand Acquisition Corp.
BRND is a special purpose acquisition corporation launched in May 2019 to create the leading branded cannabis company in the U.S. For more information about BRND, please visit the BRND website at www.mercerparkbrand.com.
About GH Group, Inc.
GH Group is a rapidly growing, vertically integrated, California-focused organization that strives every day to realize its vision of excellence: compelling cannabis brands, produced sustainably, for the benefit of all. Led by a team of expert operators, proven businesspeople, and passionate plant lovers, it is dedicated to delivering rich cannabis experiences with respect for people, for the environment, and for the community, and an abiding commitment to justice, social equity, and sustainability.
Risk Factors
This investment opportunity involves a high degree of risk. You should carefully consider the risks and uncertainties described under “Risk Factors” in the Prospectus. If any of the risks and uncertainties described thereunder actually occur, alone or together with additional risks and uncertainties not currently known to BRND or GH Group, or that they currently do not deem material, BRND’s and GH Group’s business, financial condition, results of operations and prospects may be materially adversely affected. There can be no assurance that the Glass House Group Transaction will be completed, or, if it is, that the resulting company will be successful.
Additional Information About the Proposed Business Combination and Where to Find It
BRND and GH Group urge investors, shareholders and other interested persons to read the documents (including the Prospectus and Circular) filed with Canadian securities regulatory authorities in connection with the Glass House Group Transaction, as these materials contain important information about BRND, GH Group, the resulting company and the Glass House Group Transaction.
Company Contact:
Megan Kulick
T: (646) 977-7914
Email: IR_BRND@mercerparklp.com
Investor Relations Contact:
Cody Cree or Jackie Keshner
Gateway Investor Relations
T: (949) 574-3860
Email: BRND@GatewayIR.com
