Blüm Holdings, Inc. Completes Sale of Blüm Santa Ana, Estimated $44.5 Million in Debt Elimination and $34 Million Gain
SANTA ANA, Calif., June 18, 2024 (GLOBE NEWSWIRE) — Blum Holdings, Inc. (OTCQB:BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announces a significant milestone in its ongoing strategic financial restructuring. On June 10, 2024, Unrivaled Brands, Inc., a wholly owned subsidiary of Blüm Holdings, completed the sale (the “Disposition”) of its controlling membership interest in People’s First Choice LLC (“PFC”) to Haven Nectar LLC (“Haven Nectar”). PFC owns and operates a cannabis retail dispensary campus in Santa Ana, California named Blüm Santa Ana.
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