Barney's Farm Genetics, a company specializing in cannabis seed breeding, today confirmed that it no longer intends to complete a proposed merger with PowerPlant — an organization with the stated mission of seeking investors for highly profitable cannabis seed and genetics brands with massive growth potential.
According to a spokesperson from Barney's Farm, the company is walking away from the proposed partnership due to increasing consternation at PowerPlant's irregular approach to the partnership and their failure to meet their basic contractual obligations to Barneys Farm, including failure to transfer funding by contracted deadline dates. Barney's Farm also cited a troubling pattern of unreliable information propagated by members of PowerPlant's board of directors.
Barney's Farm is founded and managed by Derry Brett. With a 40-year track record of seed-hunting missions, Brett is credited for developing some of the world's most innovative cannabis strains including G13 Haze, Dr Grinspoon, Liberty Haze, Cookies Kush, Hindu Kush, Tangerine Dream, Skunk, and Widow phenotypes as well as many of the modern terpene-based hybrid genetics popular today. He is also the proprietor of Barney's Coffeeshops, a chain of Amsterdam-based cannabis lounges he has operated since 1992.
"I have invested a lifetime of work and passion building Barney's Farm to become the world-renowned powerhouse of cannabis genetics it is today, establishing the trust of consumers and our global business partners along the way," said Brett. "Preserving that legacy and ensuring Barney's Farm will continue to deliver top quality products to our devoted and loyal customer-base is my highest priority. After observing how PowerPlant, Inc. conducts their business, I've determined definitively that exiting this proposed merger is the best way to protect those interests."
