Indus Holdings said it has acquired another well-known California marijuana brand, Lowell Herb Co., in a cash-and-stock deal worth $39 million.

The terms of the acquisition include $4.1 million in cash along with 22.6 million shares of Indus, which trades on the Canadian Securities Exchange (CSE) as INDS and on the U.S. over-the-counter markets under the symbol INDXF.

Los Angeles-based Lowell Herb Co. will change its name to Lowell Farms, according to a news release, and the new entity plans to list on the CSE and the OTC markets on March 5 as LOWL and LOWLF, respectively.

As a brand, Lowell specializes in standard marijuana goods, including flower, pre-rolls, concentrates and vape products.

Lowell’s addition to the Indus portfolio gives the parent company an even broader reach into the competitive California market.

“The cannabis industry is awash in brands competing for our attention, but Lowell has risen to the top of the fray,”  George Allen, board chair of Salinas-based Indus, said in the release.

“Every resource under our control will be employed in unlocking Lowell’s full potential.”

Source link

Medical Disclaimer:

The information provided in these blog posts is intended for general informational and educational purposes only. It is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified healthcare provider with any questions you may have regarding a medical condition. The use of any information provided in these blog posts is solely at your own risk. The authors and the website do not recommend or endorse any specific products, treatments, or procedures mentioned. Reliance on any information in these blog posts is solely at your own discretion.

Leave a Reply
You May Also Like