Blum Holdings enters advisory agreement with purchase option for Coastal Pine; issues note and shares as deposit

BLUM HOLDINGS, INC.

Monthly fee of $75,000 for advisory/consulting services; term through April 26, 2025, renewable annually.
Issues $940,974 promissory note and 889,725 shares of common stock as deposit to acquire Coastal Pine.
496,712 shares transferred at execution; 393,013 shares due at 12-month anniversary.
Blum obtains controlling financial interest and will consolidate Coastal's financial results.
Coastal manages retail dispensaries in Northern California.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BLUM HOLDINGS, INC. entered into Advisory and Consulting Agreement with Coastal Pine Holdings, Inc. valued at $940,974 (effective 2024-05-01).

Action: entry
Counterparty: Coastal Pine Holdings, Inc.
Value: $940,974
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Blum Holdings, Inc. (the "Company"), through its wholly-owned subsidiary Blum Management Holdings, Inc. (“Blum Management”), executed an advisory and consulting engagement letter (the "Advisory and Consulting Agreement" or the "Agreement") with Coastal Pine Holdings, Inc.

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BLUM HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-015049

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