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Bluma Wellness Inc. (CSE: BWEL.U, OTCQX: BMWLF) announced a $7.5 million loan from Cresco Labs Inc. This funding will support capital expenditures for the expansion of its subsidiary, One Plant Florida, and cover tax liabilities related to vested restricted share units (RSUs). The loan, due by December 31, 2021, can be prepaid without penalty. Bluma Wellness operates a licensed medical cannabis business, providing diverse services to meet market demands as it aims for further growth in Florida.
Bluma Wellness Inc. (CSE: BWEL.U, OTCQX: BMWLF) has announced the expiration of the waiting period under the HSR Act for its acquisition by Cresco Labs (CSE: CL, OTCQX: CRLBF). The transaction is expected to close in Q2 2021, pending various regulatory approvals. CEO Brady Cobb expressed excitement about the merger, which aims to advance expansion plans in Florida. Bluma operates a licensed medical cannabis business, 'One Plant Florida,' providing retail and delivery services to patients. The company continues to focus on growth in the evolving Florida cannabis market.
