Blum Holdings signs binding LOI to acquire three Sacramento dispensaries for $9.7M

BLUM HOLDINGS, INC.

Purchase price $9.7M: $1.9M secured promissory note (34-42 months) plus 1,835,330 shares (15.63% of company).
Acquisition target: Operators Only Corp. operatings three stores, including a Cookies cannabis dispensary in downtown Sacramento.
Target assets had 2023 combined revenue of ~$14M with 50% gross margins and ~$1.9M cash from operations.
Company also changed ticker symbol to BLMH (from UNRVD) effective Feb 12, 2024.
Upon close, Blum expects to launch new brand Turkey Bag Heroes for premium small-batch flower.

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