Blum Holdings reaches global settlement with People's California, extinguishing $23M lawsuit and multiple claims

BLUM HOLDINGS, INC.

Global settlement extinguishes over 2.5 years of litigation, including $23M breach-of-contract action from People's California.
All parties grant mutual releases with 1542 waivers; 8 cases/actions to be dismissed with prejudice.
People's California agrees to support Debtors' (Unrivaled Brands, Halladay) Chapter 11 plan.
Settlement is binding per court record; subject to documentation and approval by bankruptcy judge.
Blum Holdings CEO Sabas Carrillo says 'very pleased' and looks expectantly to the future.

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