Blum Holdings, Inc. announced on May 15, 2025, the execution of an Amended and Restated Binding Letter of Intent (A&R LOI) to acquire a licensed retail cannabis operator in Northern California. This transaction is expected to generate over $12.0 million in revenue, more than doubling Blüm’s annual revenue.
The total consideration for the acquisition remains $2.0 million, structured through a combination of cash, promissory notes, and common stock. A key aspect of the revised terms includes the immediate release of an escrowed payment of $800,000 upon execution of a related Management Services Agreement (MSA).
The MSA grants Blüm immediate operational and economic control of the target dispensary, accelerating its integration into the company's platform. CEO Sabas Carrillo emphasized that this acquisition is a significant milestone in reshaping the cannabis landscape through disciplined growth and operational excellence.
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