Red White & Bloom Brands Inc. completed the acquisition of One Plant Corp. and Certain assets of Aleafia Health Inc. for CAD 31.7 million.
As of November 22, 2023, the parties to the Amended Stalking Horse Agreement have satisfied substantially all of the conditions to closing set forth in the Amended Stalking Horse Agreement. The parties are continuing to collaboratively pursue, with the applicable government authorities, the remaining conditions required to obtain the required regulatory approvals. For this purpose, the parties have agreed to extend the outside date in the Amended Stalking Horse Agreement from November 22, 2023, to December 15, 2023, and currently anticipate closing the transactions contemplated under the Amended Stalking Horse Agreement by no later than December 15, 2023.
Red White & Bloom Brands Inc. (CNSX:RWB) completed the acquisition of One Plant (Retail) Corp. and Certain assets of Aleafia Health Inc. for CAD 31.7 million on January 12, 2024. As part of the Transaction, RWB also acquired a 9.4% ownership interest in One Plant (Retail) Corp. Consideration for the Transaction was CAD 31.7 million, consisting of (1) a release of all amounts outstanding and obligations payable by the Aleafia Group under the Aleafia Senior Secured Loan Agreement and the debtor-in-possession financing CAD 25 million and (2) cash consideration of up to CAD 6.8 million, funded through a combination of cash on hand and a drawdown under RWB?s existing secured note, to be utilized by Aleafia Health to extinguish outstanding obligations under an existing credit agreement and to fund closing costs and expenses of the Monitor and its legal counsel after the closing date. RWB expects that the Transaction will be accretive on an EBITDA basis in fiscal 2024.