Verde Cannabis Announces Letter of Intent with Colorado-Based Cultivation Operation

(Justin, TEXAS, June 3,, 2021) -- If you grow it, they will come.

Today, Verde USA, LLC announced its execution of a non-binding letter-of-intent with a well-established Colorado indoor-cultivation operation.

William D. Merritt, Verde CEO and member of the State Bar of Texas, stated, “This transaction will not only significantly add to Verde’s financial future, it will add a seasoned industry professional to our senior-management team.”

A non-binding letter of intent is recognized as a way for negotiating parties in a complex transaction to ascertain terms of the agreement in a straightforward manner. Key points of this binding-transaction will include industry compliance, inventorying of assets and appointment of management roles. At present, Verde and the Colorado cultivation company have reached a mutually sound consensus on basic terms of the agreement. One important note is the retention of the company’s existing operational team.

Citing this aspect of the negotiation as aligned with Verde’s vertically-integrated business model, Mr. Merritt went on to say, “we believe this transaction will enhance the company’s success by advantageously positioning us to control more of our cultivation operations, but we also recognize the key to enhanced success and growth of these assets is retaining the legacy knowledge of the current owners and management team. Verde is focused on aligning itself with industry leaders, which continuously expands our field of vision in our industry and hones our collective knowledge base to further solidify our position as an industry leader.”

Colorado was one of the first of two states to legalize marijuana with consumption for 2000, and recreational-use since late 2012. This promising acquisition is a pivotal step in Verde’s stronghold in the U.S. cannabis industry.

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Established in 2016, Verde USA LLC is a rapidly-growing vertically integrated cannabis company, operating with transparency and integrity and offering a generous suite of quality U.S.-grown and manufactured cannabis products to responsible consumers.