Friday, September 19, 2025

Latest

Acreage Holdings Sells Florida Ops To Red White & Bloom For $60.0 Million

Acreage Holdings (CSE: ACRG.A.u) has sold its Florida operations. The company this morning announced in a brief release that its Florida operations have been sold to that of Red White & Bloom (CSE: RWB).

Under the terms of the agreement, Red White & Bloom has acquired the operations for a total price tag of $60.0 million, which includes the sale of the firms property in Sanderson, Florida. The sale is reportedly a result of the company focusing on its “core markets” in nine states across the Northeast, Mid-Atlantic and Midwest, hinting that divestures within four additional states are still to come.

The make-up of the transaction is to consist of an up-front payment of $5.0 million in cash upon the execution of the definitive agreement. Following this, an additional cash payment of $20.0 million is to be made upon closing, along with the issuance by Red White & Bloom of $7.0 million in common stock and a $28.0 million promissory note.

The transaction is slated to close in Q2 2021.

Acreage Holdings last traded at US$7.40 on the CSE.


Information for this briefing was found via Sedar and Acreage Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $10K Gold No Longer Sounds Crazy | Dan Wilton – First Mining Gold

The Pure Silver Set Up! | Joaquin Marias – Argenta Silver Corp

Why $30,000 Gold Isn’t Crazy! | Simon Marcotte – Northern Superior

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Acreage Holdings Enters Sale Leaseback Arrangements in Multiple States for $72.3 Million

Acreage Holdings (CSE: ACRG.u) announced this morning that the firm has entered a number of...

Friday, October 25, 2019, 09:28:10 AM

Aleafia Health Files For Creditor Protection As Red White & Bloom Issues Demand Letter On Debt

In a move that will shock very few, Aleafia Health (TSX: AH) has filed for...

Tuesday, July 25, 2023, 10:32:06 AM

US Cannabis, Momentum, With Lots of Hurdles

The US Cannabis market has been a confusing ride for investors to comprehend. We have...

Thursday, September 12, 2019, 04:09:33 PM

Canopy Growth Finally Completes Acquisition Of Acreage Holdings

Canopy Growth (TSX: WEED) has completed its acquisition of Acreage Holdings (CSE: ACRG), which was...

Monday, December 9, 2024, 09:16:41 AM

MSO Hiring Through A Year of COVID-19 – Trulieve Leads The Way

The outbreak of COVID-19 threw a wrench into the plans of many companies who were...

Wednesday, March 17, 2021, 11:43:00 AM