Hempacco Co., Inc. acquired 50% stake in Green Star Labs, Inc. from Viva Veritas LLC for $3.5 million.
July 27, 2023
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Hempacco Co., Inc. (NasdaqCM:HPCO) entered into a purchase agreement to acquire 50% stake in Green Star Labs, Inc. from Viva Veritas LLC for $2.5 million on July 24, 2023. In arelated transaction, Hempacco Co., Inc. (NasdaqCM:HPCO) entered into a purchase agreement to acquire bottling and gummy line inventory and equipment from Viva Veritas LLC for $1 million on July 24, 2023. Hempacco will pay a total consideration of $3.5 million, with $3 million in cash and $3.2 million paid by the issuance of a convertible promissory note.
Hempacco Co., Inc. (NasdaqCM:HPCO) completed the acquisition of 50% stake in Green Star Labs, Inc. from Viva Veritas LLC July 24, 2023.
Hempacco Co., Inc. is a vertically integrated hemp manufacturing company. The Company is focused on Disrupting Tobacco's with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. It owns The Real Stuff functional hemp cigarette and rolling paper brand. Its operating segments include Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks, Smokable technology development, The Real Stuff brand of functional smokables and rolling paper, Cheech and Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross and Snoop Dogg Joint Venture of Hemp-Derived Products. It offers white label and private label research and development (R&D) and manufacturing, specializing in intellectual property-driven projects, such as mushroom extraction using only water and magnets, production of Hemp Blunts smoking paper, beverage and shot R&D and manufacturing in hemp and functional mushrooms and others.
HEMPACCO CO., INC. 