Grove Inc. Board approves up to 1 Million Share Repurchase Authorization

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HENDERSON, NV / October 19, 2021 / Grove, Inc. GRVI ("Grove" or the "Company"),Grove Inc., a global innovator in hemp, health, and wellness, today announced that its Board of Directors authorized a share repurchase program for up to 1 million shares of its outstanding common stock.

“The repurchase authorization of up to 1 million shares of stock represents our commitment to increasing shareholder value and gives us flexibility to deploy some of our cash flow into our future,” said Allan Marshall, CEO of Grove Inc. “With a strong balance sheet, positive cash flow, and growing revenues, we believe it is appropriate to have the option to repurchase stock if it makes sense as the best investment at that time.”

Purchases under the share repurchase program may be made from time to time in the open market, through block trades, the Company's 10b5-1 plan or privately negotiated transactions in accordance with applicable laws, rules and regulations. The timing of stock repurchases and the number of shares of common stock to be repurchased will depend upon prevailing market conditions and other factors. The share repurchase program does not commit the company to repurchase shares of its common stock and it may be amended, suspended or discontinued at any time at Grove’s discretion.

About Grove, Inc.

Grove, Inc. is in the business of developing, producing, marketing and selling quality products and end consumer products containing the industrial hemp plant extract Cannabidiol (“CBD”), as well as diversified products in other verticals. The Company sells to numerous consumer markets including the botanical, beauty care, pet care and functional food sectors. It seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers.

Company Contact

Andrew Norstrud

Email: investorinfo@cbd.io

Phone: (702) 332-5591

Investor Relations Contact

TraDigital IR

John McNamara

Email: john@tradigitalir.com

Phone: (917) 658-2602

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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.