SOL Global Adds California to Its MSO Portfolio with Proposed Acquisition of Premiere Cultivation, Processing, and Dispensary Companies
SOL Global Investments Corp. announced that it has entered into letters of intent to acquire ECD, Inc., which operates as Northern Emeralds (“Northern Emeralds”), an industry leading cannabis cultivation, processing and distribution company headquartered in Humboldt County, California, as well as six (6) licensed dispensary companies in California that will subsequently operate under the nationally recognized “One Plant” brand. SOL Global intends to open One Plant-branded dispensaries throughout California (a total of 20 operating and licensed dispensary companies), Florida, and Michigan.
SOL Global intends to establish a new separate cannabis multi-state operator (“MSO”) by combining its proposed acquisitions of Northern Emeralds and the six (6) One Plant California dispensaries with its previously announced proposed acquisition of Michigan-based MCP Wellness Inc. and the Company’s existing Florida-based cannabis company, 3 Boys Farms, LLC. If the proposed acquisitions are completed, SOL Global intends to pursue a “going public transaction” of the MSO by way of an initial public offering, reverse takeover, plan of arrangement or other similar transaction that will result in the listing of the shares of the MSO on a recognized Canadian stock exchange.
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