+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

Pure Harvest Acquires Sofa King

August 24, 2020 1:03 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Cannabis and hemp-CBD holding company Pure Harvest Corporate Group Inc. (OTC:PHCG), which ventured into the CBD pet market earlier this year, has acquired Sofa King Medical Wellness Products LLC.

The Colorado Marijuana Enforcement Division approved the all-stock transaction on August 11, the company said Monday.

Colorado’s regulatory body allowed SKM to transfer ownership over its six licenses to Pure Harvest. They include Recreational and Medical Marijuana Cultivation Facility, Recreational and Medical Infused Product Manufacturer, and a Recreational and Medical Retail Marijuana Store.

Pure CEO Matthew Gregarek said they are pleased to team up with SKM, adding, it’s an “exceptional distribution point for our house brands and consumer products.”

SKM, a vertically integrated cannabis company, debuted in Colorado in 2014.

It operates a Dumont-Downieville-based dispensary, cultivation, and processing facility.

Gregarek stated that SKM’s team “impressed us since day one,” considering their “management and staff have the expertise to help us achieve our vision.”

SLM founder Neale Gibbons shared the enthusiasm regarding the new partnership. 

“This is a milestone for both entities, and it provides a solid foundation from which we will look to scale both nationally and internationally,” continued Gibbons.

The Denver-based company confirmed that Gibbons would helm Pure Harvest Colorado as its CEO.

Courtesy photo


Cannabis M&A News

Related Articles

Cannabis Brands Get Loud With Rock-Branded Weed Featuring Santana, Jerry Garcia

The list of musicians hawking cannabis products is a long one. Willie Nelson, Margo Price, Snoop Dogg and Berner are just some of the names that come to mind. read more

Wild By Nature Debuts In 150 Circle K Stores In Florida And Alabama

Wellness and CBD brand Wild By Nature is debuting in over 150 Circle K convenience store locations across Florida and Alabama. The brand intends to enter hundreds of retail stores in the future. read more

Sunderstorm Brings Kanha Edible Gummies To Colorado, Massachusetts, and Canada

Cannabis manufacturer Sunderstorm Inc. has introduced Kanha edible gummies in Colorado and Massachusetts, as well as in Canada. read more

MediPharm Labs Closes 12th Deal To Supply Australia With Cannabis Products

MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) has partnered with Sunco Green Pharmaceutical Pty Ltd. to bring GMP certified cannabis products to the Australian medical cannabis market and New Zealand. read more

Magic Johnson-Backed Uncle Bud's To Enter Asia Market In November

Uncle Bud's, a hemp and CBD brand backed by Earvin "Magic" Johnson, is poised to debut in Asia. The NBA Lakers legend and Basketball Hall of Famer will launch the brand's newest shop on Nov. 6 on Tmall Global, China's business-to-consumer (B2C) cross-border online platform. read more