SOL Global’s CannCure to Go Public Through Proposed Reverse Takeover By Goldstream Minerals
Brady Cobb Will Transition From Chief Executive Officer of SOL Global to Lead the Newly Formed MSO Entity SOL Global to Continue as an Investment Company
January 08, 2020 05:10 PM Eastern Standard Time
TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB), and Goldstream Minerals Inc. (“Goldstream”) (NEX: GSX.H) are pleased to announce that Goldstream and CannCure Investments Inc. (“CannCure”), a portfolio company of SOL Global, have entered into a letter of intent (the “LOI”) dated January 8, 2020, outlining the proposed terms and conditions of a proposed transaction (the “Proposed Transaction”) pursuant to which Goldstream would acquire a 100% interest in CannCure by way of a business combination that will result in a reverse takeover of Goldstream by the shareholders of CannCure. The entity resulting from the proposed Transaction (the “Resulting Issuer”) would continue to carry on the business of CannCure as a multi-state vertically integrated cannabis company (the “MSO”) to be called “Bluma Wellness Inc.” with operations in Florida via One Plant Florida (f/k/a 3 Boys Farm LLC) and in California with premium flower cultivator Northern Emeralds. The LOI was negotiated at arm’s length.
“Bluma will continue to execute on its plan to cultivate and deliver to patients and consumers the highest quality cannabis flower and flower derived products in the coveted Florida marketplace via One Plant Florida, and in California with premium flower producer Northern Emeralds. Bluma will also remain laser focused on the responsible scale up of its operations in both Florida and California with a continued focus on its proprietary home delivery model paired with strategically located flagship stores (that will also serve as delivery hubs) and efficient and data driven premium flower cultivation”, said SOL Global CEO Brady Cobb. “We look forward to setting the benchmark for premium flower in Florida and California, and to delivering strong growth to our shareholders.”