SOL Global Portfolio Company Bluma Wellness Completes Its Sale to Cresco Labs

TORONTO, April 15, 2021 – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to announce that its portfolio company, Bluma Wellness Inc. (“Bluma Wellness”) (CSE: BWEL.U) (OTCQX:BMWLF) has closed its previously announced acquisition by Cresco Labs (“Cresco Labs”) (CSE:CL) (OTCQX:CRLBF), a vertically integrated multi-state operator and the number one U.S. wholesaler of branded cannabis products.

The acquisition was completed by way of a plan of arrangement (the “Arrangement”) under theprovisions of the Business Corporations Act (British Columbia). Pursuant to the terms of the Arrangement, holders of common shares of Bluma Wellness (“Bluma Shares”) received 0.0859 subordinate voting shares of Cresco Labs (“Cresco Shares”) for each Bluma Share held. In total, Cresco Labs acquired 184,814,281 Bluma Shares, representing all of the issued and outstanding Bluma Shares, in exchange for 15,875,449 Cresco Shares. It is expected that the Bluma Shares will be delisted from the Canadian Securities Exchange and Bluma Wellness will submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations. For more information on the Arrangement, please refer to the news release of Cresco Labs and Bluma Wellness dated April 14, 2021.

Prior to the completion of the Arrangement, SOL Global held an indirect economic interest in approximately 36.3% of Bluma Shares on a partially-diluted basis through its interest in 48,256,502 Common Shares and 29,665,515 warrants to purchase Common Shares. Following completion of the Arrangement, SOL Global holds an indirect interest in 4,145,233 Cresco Shares and 2,548,267 warrants to purchase Cresco Shares.

“Bluma Wellness was a SOL Global core portfolio holding since we co-founded the company in early 2018, and we are beyond proud of the meteoric success that led to its sale in such a short period of time,” said Paul Kania, CFO of SOL Global.

“Florida medical marijuana patients have an insatiable appetite for quality medical cannabis. Bluma’s success has been driven by the incredible strength of its One Plant Florida brand and the electrifying demand for its premium medical flower,” said Andy DeFrancesco, CEO of SOL Global. “We want to thank the entire Bluma team led by co-founder Brady Cobb for delivering stockholder value as we now enter the next chapter of growth as large stockholders in Cresco Labs under the vision of CEO Charlie Bachtell and his team.”