SOL Global Investments (CSE: SOL) portfolio company Bluma Wellness (CSE: BWEL.u) is set to commence trading at the open on June 15 as per documents filed late Friday by the Canadian Securities Exchange. The new issuer marks the completion of the go public transaction for CannCure Investments, which has since been renamed to Bluma.
The assets of Bluma Wellness currently consist largely of its operation in Florida, known as 3 Boys Farm while doing business as One Plant Florida. The firm currently cultivates cannabis at two greenhouse facilities, located in Indiantown, Florida and Ruskin, Florida, while selling product via its three dispensary locations.
In terms of dispensaries, the firms retailers are located in Boynton Beach, Jacksonville Beach, and St. Petersburg, with the firm having plans to open seven additional dispensaries and delivery hubs by November. Furthermore, each retailer also offers the states first curbside pickup network and door to door home delivery.
The completion of the go public transaction also marks the end of Brady Cobb’s tenure as Chief Executive at SOL Global, with Cobb now taking the same role at that of Bluma.
As per the CSE new listing bulletin, Bluma is set to have 82,780,962 common shares outstanding at the time of its go public, in addition to 60,721,500 common shares reserved for issuance. In total SOL will own 19.41% of the issued and outstanding shares, or 16,067,269 shares. The public issuer also owns a further 6.45 million warrants, however the firm is restricted from exercising warrants to increase its position beyond 20% ownership.
It is not yet known at what price Bluma Wellness will commence trading at at market open.
Information for this briefing was found via Sedar, The CSE, Bluma Wellness and SOL Global Investments Corp. 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.
