Blum Holdings gains control of Bay Area cannabis retailer, signs deal for Cookies equity interest

BLUM HOLDINGS, INC.

MSA grants Blum Management exclusive operational & economic control of a licensed Bay Area cannabis retailer; $800k paid to seller.
Company will consolidate Target's operations as a VIE effective May 15, 2025.
Binding term sheet to acquire 100% of holding company with non-controlling interest in Cookies brand for 489,131 shares plus warrants.
Consideration includes warrants for 30,762 shares at $0.64; implied deal value $562,500; closing targeted Q3 2025.
CEO Sabas Carrillo says transaction deepens economic exposure to Cookies and positions Blum for institutional-quality optionality.

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