Bell Nunnally, led by Partner Larry L. Shosid and Associate Joshua T. Smith, represented Dallas/Fort Worth-based company Evergreen Sustainable Enterprises, Inc. (EGSE; OTCQB: GENH), in its acquisition through wholly-owned subsidiary Cryptorica, LLC of 80% of Toro Energía Sociedad Anonima (Toro), a Costa Rican corporation with ownership of a hydroelectric dam in Costa Rica. The purchase is part of a move from the company, formerly known as Generation Hemp, Inc., into sustainable energy projects, beginning with bitcoin mining. All existing operations of Generation Hemp – the largest hemp processing entity (mid-stream hemp processing) in the country, with its operations based in western Kentucky – will continue to be maintained. The now majority-owned hydroelectric dam in Costa Rica will be used by Evergreen to power new Bitcoin mining machines at low cost through its clean and renewable energy production.
In an Evergreen Sustainable Enterprises press release, Toro family-owner and now-Evergreen partner Eduardo Kopper commented, “We are very excited to partner with Gary Evans (Evergreen Chairman and CEO) and his team in one of our family assets in order to take our extremely low-cost energy and convert this green resource into much higher profits. We are anxious to install 300 brand new bitcoin mining machines over the next few months at the Toro location.”
To read an Evergreen-issued press release on the deal, please click here.