Green Hygienics Holdings Inc. Provides Update on 2021 Harvest and Business Development Activities

SAN DIEGO, Dec. 07, 2021 (GLOBE NEWSWIRE) -- via InvestorWire — Green Hygienics Holdings Inc. (OTCQB: GRYN) (“Green Hygienics” or the “Company”) is pleased to provide an update on the 2021 harvest and current business development activities. Over the last quarter Green Hygienics has been focused on advancing several main areas of business development:

Non-dilutive Financing

The Company has an aggressive growth strategy. To date, the corporation has financed its operations almost entirely through direct investment from management, and further shares have been issued instead of cash to ensure management is vested. As a result, unlike most companies in the sector, the Company has very few shares outstanding, less that 45M fully diluted.

In keeping with this commitment, on September 22, 2021, Green Hygienics announced it was pursuing a Green Bond Offering of $100M to fund acquisitions. Since then, the Company has:

• completed a full upgrade and rebranding of the website and social media accounts
• engaged Dechert law firm in Luxembourg, passing a rigorous KYC standard to guide the Company in creating a full, detailed bond offering document and assistance in completing the application to the Luxembourg Stock Exchange
• secured the Company’s Legal Entity Identifier (“LEI”) 98450068C6A0BFEFCC12
• completed a Trust Deed Agreement through the law office of David J. Hollander
• completed a comprehensive SingerLewak Report valuing the Company at $195M to support the offering
• completed the publication of its first annual Environmental, Social and Governance Report (“ESG Report”) using the Sustainability Accounting Standards Board (SASB) framework to support the offering
• appointed Avenir Registrars who will act as a paying agent. They are registrars for securities, and it is in this context that the Company can seek admission of such securities to Euroclear Bank. They will also be applying for an ("ISIN") security number.
  

An international distribution network is also in place, book-building has commenced, and the Company is in discussions with several placement agents. The Bond Offering has been very well received as both the interest rate of 7.25% is extraordinary within the bond market, and the existing real estate along with any potential acquisitions are being collateralized.

Additionally, the Company is looking to refinance the Sol Valley Ranch property and consolidate the first and second mortgage into one loan at a lower interest rate to reduce the cost of capital and provide additional working capital. The property received a valuation of $28M early this year and the total amount of the current loans is less than $7.2M.