California Weed Company Sells Santa Ana Dispensary Eliminating $44.5M In Debt – Blum Holdings (OTC:BLMH) – Benzinga



Blüm Holdings, Inc. BLMH announced Tuesday that its subsidiary Unrivaled Brands, Inc. has sold its controlling membership interest in People’s First Choice LLC (PFC) to Haven Nectar LLC. PFC owns and operates a cannabis retail dispensary campus in Santa Ana, California named Blüm Santa Ana.

“The sale of our Santa Ana store is a landmark achievement for Blüm Holdings, not only because of the financial gain but because it symbolizes the end of a challenging era,” stated Sabas Carrillo, CEO of Blüm Holdings. “Our team has fought tirelessly, often under immense pressure with little resources, to steer the company through litigation and restructuring. We are immensely proud of the team which includes AGMs, Inventory Managers, Drivers, and Guides at PFC who have made the Blüm Santa Ana store a remarkable asset. We believe the Blüm Santa Ana team now has a shot at the title of California’s best, and the rest of our teams are poised to compete and thrive in a revitalized company.”

The Disposition Summary

The disposition marks an important step in the company’s strategic restructuring plan, which began in August 2022. The key highlights include

$24.8 million total consideration: The consideration includes $9.00 million in cash and $15.84 million in

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