INDXF - Indus Holdings to buy cannabis company Lowell Herb for $39m

Indus Holdings (INDXF) agreed to buy substantially all of the assets of the Lowell Herb Co. and Lowell Smokes trademark brands and productions assets from the Hacienda Group in a deal valued at $39m.The transaction is comprised of a cash payment of $4.1m and the issuance of 22.6m subordinate voting shares. Lowell Herb Co. is a California cannabis brand that manufactures and distributes ackaged flower, pre-roll, concentrates, and vape products, according to a statement.Indus will change its corporate name to Lowell Farms Inc. and company will trader under ticker LOWL.Indus will provide  an update on its cultivation expansion plans and the operational status of its greenhouse when it reports earnings on March 2.Seeking Alpha's "Cannabis Investing Podcast" discussed the deal with Indus's George Allen.

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Indus Holdings to buy cannabis company Lowell Herb for $39m