Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Reports on Status of Aleafia Health Agreement

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, is providing a status update related to Aleafia Health Inc. According to the update, the Ontario Superior Court of Justice has approved a stalking horse asset purchase and share subscription agreement outlining RWB’s acquisition of certain assets from Aleafia Health as well as the subscription for shares of certain subsidiaries of Aleafia Health; the agreement is dependent on RWB being the successful bidder and all pertinent approvals being obtained. The announcement also noted that Aleafia has obtained a court order approving an extension of the stay period until Oct. 31, 2023; the SISP submitted by the Aleafia Group and KSV Restructuring Inc. in its capacity as monitor in the proceedings; the stalking horse agreement; and the preservation and maintenance of the Aleafia Group’s Health Canada and cannabis excise licenses until the expiration of the stay period, which would include the ability of the Aleafia Group to sell cannabis in the ordinary course under the licenses; the court order included other items as well.

“There is no assurance that RWB’s stalking horse bid will be the successful bid under the SISP,” the announcement stated. “If RWB’s stalking horse bid is unsuccessful, the stalking horse agreement will terminate. Any alternative successful bid would result in the repayment in full of all amounts outstanding under the Aleafia senior secured loan agreement and the DIP loan in addition to the payment of an expense reimbursement of up to $500,000 associated with transaction costs incurred by RWB in connection with the preparation of RWB’s stalking horse bid.”

To view the full press release, visit https://ibn.fm/4pyTY

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri and Michigan. For more information about the company, please visit www.RedWhiteBloom.com.

NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://ibn.fm/RWBYF

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.