Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF), a craft cannabis company born from the amazing terroir of Oregon’s Rogue Valley, is pleased to provide business updates on ABCO Garden State, LLC and Nile of NJ, LLC. As previously disclosed on June 5th, 2024, the Company owns 44% of ABCO, with an option to acquire an additional 26%, subject to approval from the New Jersey Cannabis Regulatory Commission. Also, the Company is one of Nile’s largest capital partners with optionality to convert a portion of its debt into a minority equity stake.
Sales in New Jersey commenced on December 10th and ABCO is now selling into more than 35% of the 205 dispensaries in the state, according to the NJ CRC.
“I’m particularly pleased with our recent launch in New Jersey,” said Obie Strickler, CEO of Grown Rogue. “While there are always growing pains in starting up a new facility, we’ve quickly found our footing and are seeing improvement in yield and quality with every subsequent harvest. Customer reception has been strong based on word-of-mouth anecdotes, online reviews, and most importantly, inbound repeat orders. As we expected, initial pricing is robust in New Jersey, particularly when compared with Oregon and Michigan, and we’re always cognizant of providing a great value for quality when compared with both illicit and regulated competition.”
Nile, the Company’s affiliated dispensary located in West New York, New Jersey, received its license to commence operations on February 10th and had a soft opening on February 17th with a grand opening expected in March.
“Located in a vibrant, densely populated neighborhood just miles from Midtown Manhattan, we couldn’t be more excited to support Nile as both an engaged supplier and capital partner,” continued Mr. Strickler. “When we invested in Nile in early 2024, we saw not only an opportunity to partner with a scrappy local operator in a premier location, but also the opportunity to be more hands on with introducing Grown Rogue’s craft-quality flower to customers in northern New Jersey and the Tri-State area.”
About Grown Rogue
Grown Rogue International Inc. (CSE: GRIN | OTC: GRUSF) is a craft cannabis company operating in Oregon, Michigan, New Jersey and Illinois, focused on delighting customers with premium flower and flower-derived products at fair prices. The Company’s roots are in Southern Oregon, where it has proven its capabilities in the highly competitive and discerning Oregon market. The Company’s passion for quality product and value, combined with a disciplined approach to growth, prioritizes profitability and return on capital without sacrificing quality. The Company’s strategy is to pursue capital efficient methods to expand into new markets, bringing craft-quality product at fair prices to more consumers. The Company also continues to make modest investments to improve outdoor craft cultivation capabilities in preparation for eventual interstate commerce. For more information, visit www.grownrogue.com.
