Blum Holdings Inc (BLMH)

[Magnum7419]

"A wholly-owned subsidiary of Terra Tech has made a convertible loan to NuLeaf Sparks, and a convertible loan to NuLeaf Reno, both of which will automatically convert to 50% ownership of the NuLeaf entities upon approval by the State of Nevada."

Can anyone explain this ?

"The proposed transaction is subject to customary closing conditions, including both parties completing due diligence and obtaining any approvals from applicable state and local authorities. The closing is conditional on negotiating final agreements in addition to the other closing conditions. Assuming completion of these conditions, the transaction is expected to close in the third quarter of 2017."

" has signed a non-binding letter of intent to acquire 50% of NuLeaf Sparks Cultivation LLC and NuLeaf Reno Production LLC. "