BellRock Brands Inc. (CSE: BRCK.U) announced that one of its U.S. subsidiaries is going to purchase Jackson, Michigan-based JRMI27, LLC, a medical and adult use marijuana product manufacturer. BellRock’s flagship brands, Dixie Brands and Mary’s Medicinals already have products in Michigan under a licensing agreement with JRMI27, but the acquisition of the license by the subsidiary of the company, if approved, will offer BellRock a lasting presence in the Michigan market. The company did not disclose the price paid for the company. BellRock has also not published financial information on the company since October 2021.
“The agreement to acquire JRMI27 is a product of BellRock’s focused efforts to build and ultimately control the company’s brands and growth initiatives in both the country’s emerging and most established markets,” said Brian Jansen, CEO of BellRock. “This is yet another step by BellRock towards its goal of being a national industry leader and the premier cannabis house of brands.”
In addition to the acquisition announcement, BellRock also reported that the Chairman of the Board of Directors, Andrew Schweibold, and Director, Jonathan Rosenthal were resigning in good standing with the company from their respective roles on the Board, effective immediately. Schweibold and Rosenthal have been members of the board since BR Brands, LLC completed