Grown Rogue International Inc. announced it has received licensing approval with the New Jersey Cannabis Regulatory Commission ("CRC") and closed its first option to acquire 44% of ABCO Garden State, LLC ("ABCO") on May 31, 2024. The transaction details are as follows: Grown Rogue has an option to acquire 70% of ABCO through two options; Option 1 was for 44% and Option 2 is for 26% ABCO has an annual cultivation license with the New Jersey Cannabis Regulatory Commission with local zoning and planning approvals and sufficient power supply Upon receiving licensing approval, the Company purchased Option 1 for USD 1,260,000, which has been paid in cash The Company anticipates exercising Option 2, pending regulatory approval, two years after operations commence. The purchase price for Option 2 is USD 720,000 Grown Rogue has the right to purchase the remaining equity of ABCO at fair market value.