![]() Retail Dispensary Operations: CCF has the potential to operate three retail dispensaries, one of which is currently in operation in Egg Harbor. Acreage and CCF are planning to expand this facility to serve the existing demand for medical cannabis and in anticipation of adult-use legalization, and to build out a robust wholesale business. A description of the operations follows:Ĭultivation: CCF operates one of New Jersey’s largest indoor growing facilities, primarily for high end flower, in Egg Harbor, NJ. cannabis company to benefit.”ĬCF’s vertically integrated operations include licenses for cultivation, manufacturing and processing, and three retail dispensaries. and Acreage is best positioned of any U.S. Moreover, we have long believed that upon adult-use legalization, the New England and Mid-Atlantic regions will be the preeminent cannabis market in the U.S. “This reorganization will result in increased access to affordable medical cannabis for New Jersey’s existing patients in short order. “I’m thrilled to finally welcome CCF into the Acreage family,” said Kevin Murphy, Chairman and Chief Executive Officer of Acreage. With a population of approximately nine million, New Jersey is estimated to generate $317 million in legal medical cannabis sales by 2022, according to Arcview Market Research. ![]() Closing of the transaction is subject to state approval. ![]() (CCF), a New Jersey vertically integrated cannabis nonprofit corporation, entered into a Reorganization Agreement, pursuant to which Acreage will acquire 100% of the equity interests in CCF, and subsequently consolidate their financials. 15, certain of its subsidiaries and Compassionate Care Foundation, Inc. 18, 2019 (GLOBE NEWSWIRE) - PRESS RELEASE - Acreage Holdings, Inc. The CEO of Core One Labs Inc., Brad Eckenweiler, commented, "This acquisition will be the first step into the Canadian market and the guaranteed flower purchase with a growing number of licensed dispensaries is very attractive to the COOL business model for Canada." The company will continue to update the market on the progress of this project as it proceeds to its completion. Extraction capabilities on site to enter the edibles and extracts markets.Ĭore One Labs with this acquisition will be positioned to build a foundation in Canada for national cultivation, distribution and international export of all of the COOL products including CannaStrips. This is an opportunity to independently brand all of Core One Labs' products in the Canadian market. Seed-to-sale software and distribution agreement guarantees shelf space with a group of over 12 licensed locations in western Canada. The facility will be operated by experienced staff with LP credentials. In addition, the company also entered into a management agreement with a director of Rainy Daze to complete the licensing and manage the facility operations. The acquisition of Rainy Daze includes long term lease for a building currently under construction, which is scheduled to be completed in the second quarter of 2020, the facility consisting of 2,210 square feet of canopy space and 3,500 square feet of operational-purpose-built building, and 15 top proprietary genetics with the farming procedures and SOPs to ensure compliance and maximum yield. by purchasing all issued and outstanding shares of Rainy Daze in exchange for $100,000 cash and by issuing an aggregate of 3,500,000 unrestricted common shares of the company to the current shareholders of Rainy Daze. ![]() has announced it has completed the acquisition of Rainy Daze Cannabis Corp. 18, 2019 /PRNewswire/ - PRESS RELEASE - Core One Labs Inc.
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