---
schema_version: "secwatch.filing_event.v1"
accession: "0001279569-26-000221"
form_type: "8-K"
ticker: "GRUSF"
cik: "0001463000"
company_name: "Grown Rogue International Inc."
filed_at: "2026-03-18T23:59:59+00:00"
generated_at: "2026-05-15T09:50:48.265392+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Grown Rogue acquires 49% of Sea Craft for Illinois entry; $4M project capital

## Summary
- Acquired 49% of Sea Craft LLC for $1M seller note; option to buy remaining 51% for $250k-$1M.
- GRMA secured $3M preferred equity at 15% cumulative return; convertible into GRUSF shares at $0.65.
- Leased 66k sq ft turnkey facility in Dwight, IL from IIP; expects product availability in Q4 2026.
- Project capital of $4M (Sea Craft's $1M cash + $3M preferred) to fund startup and working capital.
- CEO cites 60%+ cost and time savings vs new-build; targets revenue/profit similar to new-build projects.

## SEC filing metadata
- accession: 0001279569-26-000221
- form_type: 8-K
- ticker: GRUSF
- cik: 0001463000
- company_name: Grown Rogue International Inc.
- filed_at: 2026-03-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/0001279569-26-000221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001279569-26-000221
- JSON: https://secwatch.observer/filing/0001279569-26-000221.json
- Plain text: https://secwatch.observer/filing/0001279569-26-000221.txt

## Source-grounded claims
- claim_id: 57fb0d8152dd4719efe02f67eab52fc26c7d3060
  claim: Grown Rogue International Inc. incurred loan of $1,000,000 with minority holder of Sea Craft’s ownership interests at 10% per annum maturing 24-month anniversary of the Commencement Date.
  evidence_excerpt: acquire from the minority holder of Sea Craft’s ownership interests 49% of the issued and outstanding interests (the “Minority Interests”) for an aggregate purchase price of $1,000,000 payable in the form of two promissory notes secured by a first priority security interest in the Minority Interests (the “Secured Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/0001279569-26-000221-index.htm
- claim_id: d7f6749d18b032f18f1326d6d6f9571d0ab10587
  claim: Grown Rogue International Inc. incurred loan of no less than $1,000,000 and no more than $2,000,000 with Sea Craft, LLC at 10% per annum simple interest payable monthly maturing March 11, 2029.
  evidence_excerpt: Following the Closing, GRMA agreed to make a loan facility in an amount of no less than $1,000,000 and no more than $2,000,000 available to Sea Craft for the purpose of funding startup costs and supporting working capital (the “Loan Facility”). The Loan Facility will be subject to simple interest at a rate of 10% per annum payable monthly, mature on March 11, 2029, and be secured by a first priority interest in all of Sea Craft assets.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/0001279569-26-000221-index.htm
- claim_id: 55e211583f9c19703d40a628c6fda567c0f8028f
  claim: Grown Rogue International Inc. entered into Lease with Innovative Industrial Properties, Inc. (effective 2026-03-11).
  evidence_excerpt: In connection with the transaction Sea Craft entered into a three-year lease agreement, dated as of March 11, 2026 (the “Lease”), with an affiliate of Innovative Industrial Properties, Inc., for a cannabis production facility located in Dwight, Illinois
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/0001279569-26-000221-index.htm
- claim_id: 607950ef66ef6d5985467547f12b810b9bfb46fb
  claim: Grown Rogue International Inc. entered into Membership Interest Purchase Agreement with Sea Craft, LLC (effective 2026-03-11).
  evidence_excerpt: On March 11, 2026, Grown Rogue International Inc. (“we,” “us,” “our” or the “Company”), through our indirect majority owned subsidiary Grown Rogue Management Associates LLC (“GRMA”), entered into a Membership Interest Purchase Agreement (“MIPA”) with the members of Sea Craft, LLC (“Sea Craft”), the holder of an Illinois Adult Use Cannabis Craft Grower License (the “License”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463000/000127956926000221/0001279569-26-000221-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.