GLASF - Glass House Brands to acquire remaining stake in Pottery dispensary

Glass House Brands (OTC:GLASF) said Tuesday it will acquire the remaining equity and property ownership interest in The Pottery dispensary. GLASF currently owns 50% of each the equity and property ownership interest in the dispensary in California. GLASF will acquire all equity interests of N.R.O. Management and The Pottery for 500K Glass House shares set at a fixed price of $6/share. The shares will have a one-year lock-up period from the closing date. GLASF will also acquire The Pottery's three active state cannabis retailer, distributor and cultivation licenses; as well as six city-level adult-use and medical cannabis retailer, distributor, and cultivation licenses. GLASF also committed to acquire all undivided ownership interests in the property held by TLMD Holdings and TLMD Real Estate for ~$3M in cash. "Based on its Q1 run-rate, we currently expect The Pottery to generate 2022 annualized revenue of ~$3.9M. Additionally, we see upside in the Los Angeles

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Glass House Brands to acquire remaining stake in Pottery dispensary