Special purpose acquisition company (SPAC) Greenrose Acquisition (NASDAQ: GNRS) is looking to create a vertically integrated marijuana business by buying four different companies and merging them into a cultivation, distribution, and retail network. It plans to operate in seven states where the businesses currently have a presence as it bets the Biden administration will relax laws that currently criminalize marijuana possession and use at the federal level. Image source: Getty Images. Greenrose says it will acquire Shango Holdings, Futureworks, Theraplant, and True Harvest for a total price of $210 million, consisting of $170 million in cash, $15 million in stock, and $25 million in debt. An additional $110 million could be paid in earnouts. Shango is already a vertically integrated producer with cultivation and processing facilities in several states, as well as a number of dispensaries. It operates in Arizona, California, Michigan, Nevada, and Oregon. The Health Center has similar operations in Colorado while Theraplant has a combined cultivation, processing, manufacturing, and packaging facility in Connecticut, where it is one of only four growers. True Harvest operates in Arizona, where it has a 74,000-square-foot cultivation facility, the capacity of which it plans to double. It also operates a processing facility. Greenrose Acquisition will be renamed Greenrose Holding prior to completing the deals, and its stock will transition from the NASDAQ exchange to the over-the-counter market because companies actively growing or selling marijuana are prohibited from listing on major U.S. stock exchanges. It also plans to list on Canada's NEO Exchange, which is gaining popularity among cannabis companies. As of the end of February, there were nine marijuana stocks listed on the exchange. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Learn moreRich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source