Funny this story should come across the wires today as I have just been contacted by a contractor in Europe who says there’s loads of cannabis companies not paying their bills at the moment.
As they say.. watch this space
I asked AI Perplexity which is usually pretty good at finding out stuff and as you can see its ai came up with the fat sum of zero
No specific information about the current major shareholders of PowerPlant Inc, the cannabis seed and genetics company, was found in the search results. Publicly available shareholder information is not readily accessible for this private company or it may not have been disclosed in public filings or reports found online.
If there is interest in a publicly traded company or a different company named PowerPlant Inc., please specify, and further details can be searched. Otherwise, for private companies like this cannabis seed genetics PowerPlant Inc., shareholder details may be confidential or available only through specialized financial databases or direct company disclosures not found here.There is no publicly available detailed information on the current major shareholders of PowerPlant Inc, the cannabis seed and genetics company, in the sources found. This company appears to be private or does not disclose its shareholder structure widely. If detailed shareholder information is needed, it may require access to specialized financial databases or company filings not available in the public domain at this time. Please specify if the inquiry regards a different PowerPlant Inc. or a publicly traded entity.
I did find this Linked in page with its one clue “Toronto” but it’s unclear whether this is the same company
What is clear is that whoever is involved in Powerplant Inc hasn’t registered the company under that name.
I’m guessing their a trail of shelf companies that will inevitably end up in the BVI or somewhere similar.
Business of Cannabis
Dutch seed bank Barney’s Farm, one of the leading names in the global consumer cannabis seeds market, has backed out of a landmark merger with Sensi Seeds and US firm I Love Growing Marijuana (ILGM).
Beyond the collective heft of three of the largest and most established cannabis seed brands on the planet, this new collective promised to be the first cannabis seed company in history to go public on a major US capital market, avoiding the barriers faced by traditional ‘plant-touching’ cannabis firms.
The deal to combine was announced on stage at MJBizCon in December 2024 to considerable fanfare. However, after nearly a year of silence following its bold announcement, the deal has collapsed, with the blame placed squarely on the deal’s apparent architect, PowerPlant.
Barney’s Farm founder Derry Brett told Business of Cannabis: “While wishing our friends at Sensi & ILGM the very best, we have taken this decision to terminate the merger to protect Barney’s Farm from what has transpired to be, at best, PowerPlant’s unsuitable and speculative enterprise.
“We look forward to revealing substantial groundbreaking partnerships in the coming weeks.”
The promise vs the paper trail
Nine months on from the announcement, there have been no public closing steps, no regulatory filings in the Netherlands (available to the public), no follow-up statements from the companies involved regarding the merger, and no reference to the mid-2025 IPO.
This radio blackout was eventually broken just weeks ago on September 01, when Barney’s Farm, the senior partner in the proposed merger, issued a press release announcing its decision to walk away from a proposed merger with PowerPlant Inc.
In response to a request for clarification on the progress of its merger, and its relation to PowerPlant, Brett confirmed to Business of Cannabis that: “The vehicle and driver that put the proposed merger together is PowerPlant Inc.”
Despite not being referenced once in any of the initial merger announcements, or on any of the websites of the companies it apparently represents, PowerPlant’s website states that it ‘is uniting some of the most respected names in cannabis seeds, genetics, and cultivation’.
“Founded to proactively address the anticipated consolidation within the fragmented cannabis seed and genetics market, PowerPlant is advancing its buy-and-build strategy with the acquisitions of ILGM.com… and Sensi Seeds,” it continues.
Alongside claiming to have acquired two of the three companies involved in the merger, it also suggests it will be launching an IPO imminently, though we could find nothing publicly available to corroborate either of these claims.
We have contacted PowerPlant, Sensi Seeds, and ILGM for clarification on their stance regarding the merger and the capacity in which PowerPlant is associated with these retailers. However, only Barney’s Farm has offered a comment at the time of publication.
One thing that is crystal clear is that Brett and his company are out, placing the blame squarely on PowerPlant.
“Barney’s Farm Genetics’ termination of the transaction with PowerPlant brings to an end the proposed merger between Barney’s Farm Genetics, Sensi Seeds, and ILGM with immediate effect.
“The proposed merger was undone when PowerPlant Inc., the promoters of the merger, failed to meet their basic contractual obligations to Barney’s Farm, including failure to transfer funding by contracted deadline dates.
“We at Barney’s Farm do not know where this leaves what remains of the merger, but it would be incorrect to communicate that the merger, including Barney’s Farm, is still somehow intact. It is not.”
Regarding its plans to go public, Brett clarified that it was ‘never PowerPlant’s plan to IPO—their route was always an RTO’.
There’s more at
Barney’s press release
Unsurprisingly there’s no names etc at the powerplant website just the usual guff you would expect to see.. not that any of it applies anymore
This sort of thing
PowerPlant is the world’s first cannabis seed and genetics powerhouse.
We acquire, invest in, and actively support highly profitable cannabis seed and genetics brands with massive growth potential that traditional finance has so far overlooked.
PowerPlant has been 100% debt-free and profitable from day one. Our brands currently serve millions of loyal customers across the US and Europe, and with current revenues of $46.2M, normalized EBITDA of $23.3M, and normalized net profit of $17.1M our growth is not theoretical.
To support our acquisition and profitable growth strategy, PowerPlant Inc. issues new common shares and initiates a private placement.
PowerPlant provides investors with a compelling opportunity to enter one of the fastest-growing global markets at a moment when expertise, trust and long-term vision matters.
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