Green Growth Brands Inc. announced that is it has received a notice of default from MXY Holdings LLC (“Moxie”) related to a $5,000,000 note (the “Moxie Note”) for which the Company provided a guaranty as a condition to Moxie extending the loan to GGB Beauty LLC on July 8, 2019. The Moxie Note had a maturity date of January 31, 2020, and the parties were unable to reach agreement as to an extension. In conjunction with the notice related to the Moxie Note, the Company also received notice that its obligations with respect to the previously announced $4,000,000 termination fee (the “Termination Fee”) owed to Moxie would also be accelerated and be deemed immediately due and payable. The Company is reviewing the notices and will continue working with Moxie to reach resolution on a restructuring solution as to both the Moxie Note and the Termination Fee.