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- DNA Brands (OTCPK:DNAX +7.8%) enters an agreement with a partner located in Los Angeles, California to be the majority owner of a newly formed wholly owned subsidiary, Green Thumb Ventures, a Colorado Corp.
- The purpose of this subsidiary will be to identify and cherry pick distressed assets of value, specifically in the cannabis space.
- Green Thumb Ventures plans to strategically identify undervalued cannabis projects that are overextended and in need of additional financing but which provide immediate value for an equity investor.
- Under the terms of the agreement company will finance the acquisition of projects into Green Thumb Ventures.
- Its partner in Southern California will be led by minority business owner and cannabis veteran, Mr. Rendhel Pierre-Louis.