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Follow on Google News | Demand Brands (DMAN) Completes Acquisition Of Vertically Integrated Cannabis BusinessThe All-Stock Transaction Is One of the Largest Acquisitions in U.S. Cannabis History
By: Demand Brands The acquisition provides DMAN with multiple cannabis businesses consisting of cultivation and processing, brand management operations, and wholesale and retail distribution, with the capability to forge a footprint across North America to leverage anticipated federal deregulation "CF3's seed to sale platform allows the Company to capture the entire value chain of the cannabis market," said Andrew Colehower, the incoming Chief Executive Officer of the Company. "CF3's highly efficient cultivation and supply line management paired with its patented microbial solutions allow the Company to create products including flowers, concentrates and distillates with THC content exceeding 30%. We are excited about the value this transaction creates for the Company." The Company's Board of Director appointments and key management posts will be announced in the coming days. Cultivation and Processing The acquisition provides the Company with a portfolio of 11 managed licenses in California with access to 236,000 SF of cultivation space and 41,500 lbs. of cannabis cultivation and processing. CF3 has established cultivation facilities on the Central Coast of California and distribution contracts throughout the state. The acquisition provides a footprint for the Company to expand to 111,000 lbs. of cannabis cultivation and processing by 2026. Cautionary Note Regarding Forward-Looking Information and Statements. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates" https://www.dman.co/ End
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