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Thursday, March 14, 2019 10:37:55 AM
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.
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