$RWB.CN

Red White & Bloom Brands' Unit Completes Ayurcann Buy

Red White & Bloom Brands' (RWB.CN) unit Emblem Cannabis Corporation, successfully closed the previously announced purchase of Ayurcann, it said on Monday.The purchase of Ayurcann by Emblem was made in connection with the insolvency proceedings of Ayurcann and its parent, Ayurcann Holdings Corp. under the Companies' Creditors Arrangement Act."We believe this transaction delivers immediate value through increased revenue and EBITDA, while also creating a powerful foundation for future growth," said Red White & Bloom Brands President Colby De Zen. "As we continue to expand our footprint across North America and other legal cannabis markets, we see significant opportunities to leverage the strength of the Ayurcann brands across a much broader platform."The acquisition adds a portfolio of established consumer brands that Red White & Bloom believes can be expanded beyond their current Canadian footprint, it said. Leveraging the company's existing operations, distribution channels and strategic relationships, the company said its management intends to pursue opportunities to introduce the Fuego, Xplor and Happy & Stoned brands into additional markets where cannabis products may be legally produced, distributed and sold.Shares of the company closed unchanged at $0.025 on Friday on the Canadian Securities Exchange.

Emblem Assuming DIP Lending Role From Auxly In Connection with CCAA Proceedings of Ayurcann

Red White & Bloom Brands' Subsidiary, Emblem, Assumes Debtor-In-Possession Financing for Ayurcann Following Assignment From Auxly Cannabis Group

Red White & Bloom Brands Unit Wins Bid For Ayurcann In Insolvency Sale Process

Red White & Bloom Brands (RWB.CN) on Monday said its Emblem Cannabis unit was selected as the winning bidder in a court-supervised sale process tied to the insolvency of Ayurcann Holdings and Ayurcann under the Companies' Creditors Arrangement Act.The deal is structured as a share purchase, under which Emblem will indirectly acquire Ayurcann's business, assets, licenses and operations by buying 100% of its newly issued shares. Certain assets and liabilities will be excluded and kept with an Ayurcann affiliate.Upon closing of the transaction, Emblem said it will acquire a "comprehensive processing and manufacturing platform", including established brand portfolio, production facility and equipment, commercial relationships and records, and licenses.."We are very pleased that Emblem has been selected as the successful bidder for Ayurcann," said Colby De Zen, president of RWB. "This acquisition is highly strategic and will immediately scale our Canadian platform with a leading portfolio in the fastest-growing product categories and a national distribution footprint across more than 2,500 retail locations. Beyond the brands and infrastructure, we are acquiring a proven operating platform with meaningful synergies across supply chain, manufacturing and overhead.."Shares of the company closed unchanged at $0.02 on Canadian Securities Exchange.