Just to be clear, Cannabis One Holdings, Inc., has nothing to do with Cannabis Science, Inc. (CBIS on the OTC BBN "Pink Sheet") which I've had on my watch list for years and have deemed "virtually worthless as this time." Cannabis One is not traded in the US...though that may change in the future. It is traded under the CBIS symbol in Canada and in Canada only.
Cannabis One has been rapidly expanding and gobbling up brands left and right (they are self-proclaimed as the "House of Brands"), including Cheech's Private Stash (yes, Cheech of Cheech and Chong) just last week in a 3-year licensing deal.
Bottom line, Cannabis One has essentially bought the California holdings of Liht for $350,000 in CBIS stock (for 51% of the holdings), which must be held for 12 months by Liht. Cannabis One can buy the other 49% of Liht's CA holdings anytime in the next five years at fair market value, which could rise with Cannabis One's involvement. Since Liht still holds 49% of the CA holding, it should benefit from Cannabis One's leadership of the property.
As stated in the article, Cannabis One's involvement essentially releases Liht from the maintenance and oversight of CA's Green Leaf Wellness, which will be rebranded as The Joint. It allows Liht to focus on operations in Nevada, Washington and British Columbia. While I'm a bit sad to see Green Leaf Wellness go away, it was clearly not a point of focus for Liht and its rebranding under another company's control helps Liht streamline its efforts on the things that have the greatest potential for Liht.
Overall, this is a good deal for everyone involved. It will be interesting to see the impact it has on Liht moving forward.
