Market Overview

Bluma Wellness Complete Reverse Takeover, Will Operate Under 'One Plant'

Share:
Bluma Wellness Complete Reverse Takeover, Will Operate Under 'One Plant'

Medical cannabis company Bluma Wellness Inc. confirmed it has completed a reverse merger takeover of CannCure Investments Inc. 

The deal was initially announced in January.

According to Friday's press release, the Toronto-based company — previously known as Goldstream Minerals Inc. — will begin trading on the Canadian Securities Exchange as soon as it receives approval.

The company is expected to trade under the symbol "BWEL" once it meets CSE's listing conditions.

Upon entering the transaction, CannCure operated as a portfolio company of SOL Global SOL Global Investments Corp (CSE: SOL) (OTCPK: SOLCF).

Bluma Wellness operates in Florida via 3 Boys Farm LLC - its subsidiary doing business as One Plant Florida.

"I am so proud to lead this team of experienced growers and cannabis professionals in Florida, and we are firmly committed to responsibly scaling up our cultivation, processing and retail operations through the balance of 2020 and into 2021, all the while remaining true to our mission statement of cultivating a remarkable experience for Florida's patients through growing and dispensing exceptional cannabis," stated CEO Brady Cobb.

One Plant oversees cannabis flower cultivation and processing at Indiantown-based 54,000 square feet Nexus greenhouse and Ruskin-based 24,000 square feet facility.

Cobb said the first harvest from Nexus Greenhouse will be in retail stores in mid-July.

He explained they "will transition from harvesting approximately 300 pounds of flower per month to 1,300 pounds per month, and our retail locations and delivery fleet will ramp up to match this supply increase."

Bluma Wellness also runs three retail stores across Florida, including dispensaries in Boynton Beach, Jacksonville Beach, and St. Petersburg.

The company expects to launch additional seven retail locations and delivery centers within Florida by November.

 

Related Articles

View Comments and Join the Discussion!

Posted-In: cannabis industry cannabis sales Florida marijuana dispensariesCannabis M&A News

Cannabis Movers