GLASF - Glass House Brands to acquire 3 dispensaries in California

Glass House Brands (OTC:GLASF) said Thursday it will acquire 3 Natural Healing Center assets - 2 operating dispensaries and 1 dispensary slated to open in Q3. GLASF will acquire the operating retail dispensaries in Lemoore and Morro Bay for ~$22.6M through a combination of ~$5.7M in cash and the rest in Glass House shares. The third retail dispensary, currently under construction in Turlock, California, is expected to open in Q3. GLASF expects to complete the acquisition of the Turlock store once it opens. Consideration for the Turlock acquisition will be determined at the end of its 6th quarter of operations, at 6x its annualized EBITDA in that quarter. Consideration will be paid 80% in stock and 20% in the form of an unsecured promissory note bearing interest of 8% annually. "With the addition of the 3 dispensaries, plus The Pottery8 and our Farmacy dispensaries in Isla Vista, Santa Ynez and Eureka

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Glass House Brands to acquire 3 dispensaries in California