Blum Holdings, Inc. - UNRV STOCK NEWS

Blum Holdings, Inc. announces the divestment of its final California cultivation facility by its subsidiary Unrivaled Brands, aligning with a strategy to focus on profitable cannabis assets and brand development. The decision aims to prioritize sustained growth, cash generation, and profitability in the dynamic cannabis landscape.

Blum Holdings, Inc. announces strategic reorganization and reverse stock split, resulting in a new trading symbol 'OTCQB:UNRVD' for 20 business days before changing to 'BLMH'. The corporate actions took effect on 1/16.

Unrivaled Brands, Inc. (UNRV), a cannabis company based in California, has successfully completed a strategic reorganization and reverse stock split. This move positions Blum Holdings, Inc. as the parent company of UNRV, with Blüm's common stock trading under the symbol 'BLMH' on the OTCQB tier of the OTC Markets. Former UNRV stockholders will need to surrender their original stock certificates as part of the transition.

Unrivaled Brands, Inc. (OTCQB: UNRV) successfully held its 2023 annual meeting of Stockholders, receiving overwhelming support for key proposals and reflecting stockholders' confidence in the Company's direction and leadership. The proposals approved include the Agreement and Plan of Merger, a reverse stock split, the election of new directors, executive officer compensation, and the appointment of the Company's independent registered public accounting firm. The voting results indicate an average of 96% voting support from stockholders approving all seven (7) proposals.

Unrivaled Brands, Inc. (OTCQB: UNRV) announced the execution of Non-Binding Letters of Intent for a Proposed Transaction involving the acquisition of various California-based cannabis assets. The company also updated stockholders on a proposed corporate reorganization and reverse stock split, aiming to foster growth. The Proposed Transaction could generate between $60-80 million in annual revenue post Roll-Up, and would bring experienced cannabis entrepreneurs, complementary assets, geographic expansion, operational efficiencies, and enhanced stakeholder value.

Unrivaled Brands, Inc. (OTCQB: UNRV) announces a binding settlement term sheet to settle $4.12 million of debt with accredited and institutional investors, expecting to record a gain of approximately $2.37 million in its 2023 financial statements. The settlement extinguishes consent rights, conversion price adjustments, and restrictions on significant transactions, fundraising, and corporate actions.

Unrivaled Brands, Inc. (OTCQB: UNRV) reported a retail gross profit percentage of 52% for the quarter ended September 30, 2023. The company achieved $8.6 million in revenue, with 94% from retail sales, driven by four retail stores and in-house cultivated flower and Korova-branded products. Despite a 7% decrease in selling, general, and administrative expenses, adjusted EBITDA from continuing operations was $(1.2) million. The company also experienced a $1.3 million gain on investments and a $1.5 million loss on disposal of assets. Unrivaled entered a settlement agreement with Mystic Holdings, Inc., recording an unrealized gain on investment of $1.3 million. The company outperformed the broader California market with a revenue decline of 2% compared to a 6% decrease in California cannabis retail revenue. The Chief Financial Officer emphasized maintaining a 52% retail gross margin amidst challenges in the regulated cannabis market and anticipates intensified competition in the future.

Unrivaled Brands, a cannabis company, has been ranked 8th most profitable and 19th most credit worthy among its publicly traded cannabis peers by Viridian Capital Advisors. The company has shown significant improvement in credit quality, with a reduction of over $53.0 million in debt.

Unrivaled Brands announces reorganization and creation of new holding company