Glass House Brands To Acquire California Cannabis Edibles Manufacturer For $25.6M

Vertically-integrated cannabis company Glass House Brands Inc. (NEO: GLAS.A.U) (NEO: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF) is acquiring California-based cannabis edibles company Plus Products Inc.

The Deal Details

The Long Beach-based company agreed to buy Plus Products for roughly $25.6 million through a combination of unsecured convertible debt and equity, plus additional performance-based consideration.

The acquisition is expected to close in the first three months of 2021 and is being completed by way of a plan under the companies' Creditors Arrangement Act.

In addition, the deal is subject to certain customary closing conditions, including, among others, the approval of PLUS' creditors, approval of the Supreme Court of British Columbia in the context of the CCAA proceedings, and the approval of the Neo Exchange.

What It …

Full story available on Benzinga.com

More Glass House Brands To Acquire California Cannabis Edibles Manufacturer For $25.6M