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Green Growth Brands Inc. has agreed to create a new Ontario limited partnership with MXY Holdings LLC, among others, where general partner GGB will acquire the issued and outstanding units of Moxie in an all-equity interest transaction for around $310 million. The plan is to create the first 360-degree cannabis company, which is part of GGB’s focused growth strategy.

GGB, which is headquartered in Columbus, will also be acquiring shares of MXY C and MXY D, Delaware entities within the Moxie structure, and interests in two entities, PurePenn LLC and Pure CA LLC, with which California-based Moxie has current acquisition agreements, subject to regulatory approval.

The equity purchase price will be satisfied through the issuance of either GGB Common Shares or Exchangeable LP Units. The all-equity interest offer allows shareholders of both entities to participate in the potential future growth and upside of the combined company.

On closing, the combination will have immediate access to nine key states including California, Florida, Nevada and Massachusetts, and up to 16 states total including Moxie’s expansion potential. The deal has the potential to create vertical distribution network across the U.S. with GGB’s expected 200-plus CBD mall-based shop locations and Moxie’s 250-plus retail dispensary partner network.

GGB will reorganize to create a new limited partnership to hold its existing assets and the acquired assets.