Energroup Holdings Corp. (OTC: ENHD) will enter California’s regulated cannabis industry through its planned acquisition of portfolio company Cocannco.
Cocannco is simultaneously working to acquire Clearly California Products, a cannabis manufacturer that launched in 2022, the companies announced Friday. The deals would give Energroup an immediate foothold in California through Clearly California’s existing manufacturing agreements and planned dispensary expansion.
Separately, Cocannco has agreed to purchase a licensed 22,000-square-foot indoor cultivation facility in Sacramento. The facility includes permits for manufacturing and distribution operations.
The company is also partnering with social media influencer GloZell Green to launch CBD products nationwide. Green, who touts more than 700 million YouTube views, will put her name on products including a CBD-infused relief balm and mushroom gummies planned for release this month.
“This fully turnkey operation comes with cannabis licenses for cultivation, manufacturing and distribution,” Cocannco officials said in a statement.
Energroup plans to conduct comprehensive audits of all entities as part of a Regulation A+ offering. The company aims to achieve full SEC reporting status and qualify for OTCQB market trading.
Clearly California developed its presence in California’s cannabis market through contract manufacturing, finding particular success with a topical balm for skin care and pain relief. The company plans to expand its THC product line to select California dispensaries in 2025 while launching CBD products that can be sold nationwide.
The companies did not disclose the financial terms of either acquisition.
Source: Energroup Holdings [[{“value”:”The Sacramento cannabis company’s latest deal would transform the shell into an active player while expanding itscultivation footprint.
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