Green Growth plans 70 new CBD shops in Brookfield Properties' malls

Brookfield Asset Management's Senior Managing Partner and CEO Bruce Flatt attends the company's AGM in Toronto on May 6, 2015. THE CANADIAN PRESS/Chris Young

COLUMBUS, Ohio - Green Growth Brands Inc. has signed a deal to open more than 70 new CBD stores at Brookfield Properties' shopping centres throughout the United States.

The Ohio-based cannabis company says these stores will sell CBD-infused personal care products under its existing Seventh Sense banner and under a new brand called Green Lily.

The chief executive of Brookfield Properties' retail group, Sandeep Mathrani, says it is the company's job to bring in retail offerings that consumers desire, and this includes Green Growth's CBD products.

Green Growth currently has seven shops within Brookfield Properties' portfolio.

Cannabidiol or CBD is a non-intoxicating compound which can be derived from cannabis or hemp and has been touted for its health benefits.

Cannabis remains illegal at the federal level in the U.S., but the passage of a U.S. law known as the Farm Bill in December allowed for the growing of hemp for the purposes of extracting CBD.

Companies in this story: (TSX:BPY.UN)

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