Mr. Obie Strickler reports
GROWN ROGUE ACQUIRES THE MINORITY INTEREST IN ILLINOIS SUBSIDIARY
Grown Rogue International Inc. has completed the acquisition of the 30-per-cent minority interest in Rogue EBC LLC, its Illinois subsidiary. The total consideration is $1.5-million, with $500,000 paid at closing, $500,000 due in six months, and $500,000 due at the earlier of 15 months from closing or the date of the first harvest.
"We are pleased to have this consolidation complete, setting the stage for the development of our Illinois project to continue," said Obie Strickler, chief executive officer of Grown Rogue.
Mr. Strickler continued: "When we first struck our partnership in Illinois, we were excited about managing the cultivation operations in partnership with an operator who would run the manufacturing operations. However, owing to a request for liquidity from our partner for reasons completely unrelated to Grown Rogue, we decided to opportunistically acquire 100 per cent of this project. Increasing our ownership at an attractive price before we're operational is a logical step, supported by the success we've had in efficiently producing craft-quality flower in multiple markets, most recently with our recent launch in New Jersey, which has a market structure that we believe resembles Illinois."
The deal is subject to final approval by the Illinois Department of Agriculture.
About Grown Rogue
International Inc.
Grown Rogue is a flower-forward cannabis company rooted in Oregon's Rogue Valley, a region known for its deep cannabis heritage and commitment to quality. With operations in Oregon, Michigan and New Jersey -- and expansion under way in Illinois -- Grown Rogue specializes in producing designer-quality indoor flower. Known for exceptional consistency and care in cultivation, the company's products are valued by retailers, budtenders and consumers alike.
By blending craft values with disciplined execution, Grown Rogue has built a scalable, capital-efficient platform designed to thrive in competitive markets. Grown Rogue believes sustained excellence in cannabis flower production is the engine of the industry's supply chain -- and the company's competitive advantage.
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