California-based Indus Holdings, Inc. (OTCQX: INDXF) is acquiring Lowell Natural herb Co. as well as Lowell Smokes in a bargain valued at $39 million. The procurement consists of hallmark brand names, item profile, as well as manufacturing possessions of Lowell from The Farmhouse Team reliable promptly. The firm will certainly alter its name to Lowell Farms Inc.
” The mix of Indus as well as Lowell will certainly produce a leading manufacturer of The golden state cannabis as well as the following action for the initial terrific American cannabis brand name,” claimed Gregory Heyman, owner of Beehouse, Lowell’s biggest financier. “The Indus group’s dedication to expanding exceptional cannabis as well as the neighborhoods they offer likewise recognizes Lowell’s objective to stabilize cannabis in America.”
The bargain includes a cash money settlement of $4.1 million as well as the issuance of 22,643,678 Junior Ballot Shares of the Business (of which 5,000,000 will certainly be kept in escrow to protect particular indemnification responsibilities taken on by the vendors in the purchase). The share factor to consider was provided in a personal positioning purchase as well as the firm has actually accepted sign up such shares for resale in the USA. Farmhouse claimed it has actually accepted remain to generate Lowell items for an acting duration pending the conclusion of the transfer of particular governing possessions.
It is anticipated that Lowell Farms Junior Ballot Shares as well as Warrants will certainly start trading on the Canadian Stocks Exchange (CSE) on March 5, 2021, under the ticker signs LOWL as well as LOWL.WT, which the Junior Ballot Shares will certainly start trading on the OTCQX reliable on March 5, 2021, under the ticker icon LOWLF.
” The cannabis market is flooded in brand names completing for our interest, however Lowell has actually climbed to the top of the battle royal as a brand name that all at once encourages an activity, invites the interested, as well as welcomes the reacquainted all with an elegance as well as sophistication that brand names can just desire,” claimed George Allen, Chairman of the Board for Indus Holdings, Inc. “Every source under our control will certainly be used in opening Lowell’s complete possibility.”
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