"Star Buds is a premier cannabis industry brand and we are thrilled to have now acquired 8 of 13 Colorado locations, with the remaining five locations expected to be acquired by the end of next month. Star Buds is a recognized and successful retail cannabis operator in the United States and is home to a wide selection of strains, concentrates, edibles, tinctures, and best-in-class customer service. Total consideration for this most recent acquisition was approximately $9.3 million, consisting of $3.5 million in cash, $3.5 million in sellers’s notes, and $2.3 million in Preferred Stock (at a price of $1,000 per share). The Company plans to acquire the remaining five Star Buds in Colorado by the end of March, for a total of 13. This follows the successful acquisition and integration of six Star Buds retail locations in Colorado in December 2020.
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