TALLAHASSEE, Fla., Jan. 21, 2022 Trulieve Cannabis Corp In Recent News announced it has completed the acquisition of an operational 64,000 sq. ft. cultivation facility in Phoenix, Arizona.
Trulieve will pay $13.75 million cash at closing, with potential milestone payments subject to earn-out and escrow requirements.
“We are excited to close this acquisition which is in line with our strategic priorities. The facility strengthens Trulieve’s presence in the cornerstone market of our Southwest hub, as well as expands our cultivation capacity. We look forward to serving more patients and customers throughout Arizona with our high-quality, proprietary brands.” said Kim Rivers, CEO of Trulieve.
The new cultivation facility immediately improves supply chain capacity and becomes Trulieve’s fifth cultivation facility in Arizona, supporting Trulieve’s 17 dispensaries in the state of Arizona with flower for medical patients and adult-use customers. Trulieve locations in Arizona include Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu, Mesa, Peoria, Phoenix, Scottsdale, Tempe and Tucson.
LOS ANGELES, CA January 6, 2022, Cannabis Global, Inc. and Active Health Foods, Inc. today announce the cannabis consumer brands to be included in their recently announced letter of intent to create a joint venture with the Hub Craft, a licensed and permitted Massachusetts cannabis cultivation, manufacturing, and retail company.
The proposed joint venture plans to bring the following Hub Craft brands into the California marketplace. 1. Freeway Cannabis by Rick Ross 2. Payton’s Place by NBA Star Gary Payton 3. TRUTH34 brand via Paul Pierce, 10x NBA All-Star, aka ‘The Truth’. The brand will include flower, vapes, bubble hash, pre-rolls, and edibles. 4. Whoopi Goldberg’s brand “Emma & Clyde” to include pre-rolls, flower, vapes, and edibles from the health-conscious brand “Emma & Clyde”.
Under the terms of the proposed joint venture, Cannabis Global, Active Health and The Hub Craft will form a California corporation to enter the California cannabis marketplace. In addition to being granted exclusive licenses on all Hub Craft products, branding, and associated technologies for the State of California, the joint venture will be provided an option to purchase a 51% controlling position in Hub Craft anytime within nine months of the effective date of the joint venture for a price of $15 million.
“Our Company, Cannabis Global, will add the licensed California cannabis component to this proposed joint venture. We are proud to add these brand names to the endeavor”, commented Arman Tabatabaei, CEO of Cannabis Global. “The California market is highly competitive, and branding is more important than ever. These powerhouse cannabis brands will be an impressive addition to our California marketing efforts”
We believe these brands will significantly increase the marketability of the future joint venture’s product offerings,” commented Mr. Glen Bonilla, CEO of Active Health. “With the competitiveness of the mature California markets, branding is proving to be a key competitive differentiator. We are looking forward to working with both Hub Craft and Cannabis Global to make these brands highly successful in the California market.”
While the executives of the companies have agreed to the proposed initial terms of the joint venture to address the California market as outlined in the non-binding letter of intent, no definitive agreement has been signed. Moreover, there are still a considerable number of details to be worked out before the companies would be able to finalize an agreement. Thus, there can be no assurance a transaction as contemplated will ultimately take place.
We are marketing and producing Comply Bag(TM), an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace.
Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program. About Active Health Foods Active Health Foods recently acquired CoinChamp, Inc., and the operations of CoinChamp now represent the operations of the entire Company. CoinChamp is developing a platform for the plug-and-play creation of non-fungible tokens.
More details will be disclosed in the near future. Glen Bonilla, President and CEO, is an experienced serial entrepreneur with an extensive banking background, years of managerial experience, and a fresh vision as a tech-savvy millennial CEO.
About The Hub Craft
The Hub Craft, LLC is a minority-led provisionally licensed business with future cultivation, manufacturing, and adult-use dispensary locations. Their facilities are currently in development in Clinton, Holyoke, and Fitchburg, Massachusetts. The Hub Craft is the exclusive distributor of TRUTH34, Emma & Clyde, Payton’s Place, and Freeway Rick Ross branded products in Massachusetts.
While the executives of the companies have agreed to the intent to merge, via a share exchange type of arrangement, as outlined in this press release, no definitive agreement has been signed. Thus, there can be no assurance a transaction as contemplated will ultimately take place. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results
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