Michigan-Based Driven Grow Acquires 30% Stake In Redemption Cannabis

Redemption Cannabis announced a new partnership deal that will make the Frederic, Michigan-based cultivation and processing company, Driven Grow, a 30% owner of the Redemption brand.

This new investment will allow Redemption Cannabis to expand its product offerings to the 72 Michigan provision centers that Driven Grow supplies. It will also support the brand's expansion into new states later this year. 

“Both of our companies already have a great working relationship and are recognized by consumers not just for having quality products but also for our authenticity because we place social justice at the heart of what we do,” said Redemption CEO Ryan Basore. “This partnership agreement will ensure that our two independent companies will be able to compete head-to-head with the corporate multi-state operators long into the future.”

Basore and Driven Grow CEO Drew Driver both got started in the cannabis industry in the early stages of Michigan’s medical marijuana caregiver program. Their separate experiences of being targeted by law enforcement for their roles as caregivers led them to social activism, which is why Redemption Cannabis dedicates 10% of its proceeds to helping people harmed by decades of cannabis prohibition.

Más contenido sobre cannabis en Español en El Planteo.

 

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisMarketsMichigan cannabis
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...