Harborside Inc. (OTCQX: HBORF) finalized its previously announced purchase of an Oakland-based cannabis manufacturer Sublimation Inc. (“Sublime”) for $43.8 million.
Sublime has been in business for five years, during which it has developed popular and affordable Fuzzies branded pre-rolls. These pre-rolls are said to be a leading brand in the Golden state with a 7.9% California pre-roll market share in 2020.
Sublime was acquired for a total of $43.8 million. The total purchase price consists of around $384 million shares and $2 million in cash and $3.4 million to repay Sublime's debt.
Lowell Farms Inc. (OTCQX:LOWLF) announced a first-of-its-kind cannabis facility capable of processing 250,000 lbs. of wholesale cannabis flower per year, including drying, bucking, trimming, sorting, grading and packaging.
Large-scale processing and automation are the missing pieces that will make California cannabis dominant in this exciting new frontier.
Cannabis Co. Harborside Completes Purchase Of Pre-Roll Brand Sublime For $43.8M
Lowell Farms' New Cannabis Processing Facility Has Plans To Process 250 Tons Of Flower Annually
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
Episode 759 of The Talking Hedge:
Your Cannabis Business Podcast.
Covering cannabis business news, interviews, investments, events, products, reviews, and some random stuff. But as Jay-Z said "it's only entertainment."
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
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