(MENAFN- Investor Brand Network) Red White & Bloom (CSE: RWB) (OTC: RWBYF)
is providing an update on matters relating to Aleafia Health Inc. Following receipt of the approval and reverse vesting order from the Ontario Superior Court of Justice (Commercial List) on Oct. 31, 2023, RWB has continued to work with Aleafia Health and certain of its subsidiaries to implement the transactions contemplated by the previously disclosed stalking horse asset purchase and share subscription agreement, as amended and restated on Oct. 24, 2023 (the“amended agreement”) among RWB, Aleafia Health and certain subsidiaries of Aleafia Health. As of Nov. 22, 2023, the parties to the amended agreement have satisfied substantially all of the conditions to closing set forth in the agreement. The parties are continuing to collaboratively pursue, with applicable government authorities, the remaining conditions to obtain the required regulatory approvals. For this purpose, the parties have agreed to extend the outside date in the amended agreement from Nov. 22, 2023, to Dec. 15, 2023, and currently anticipate closing the transactions contemplated under the amended agreement by no later than Dec. 15, 2023.
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About Red White & Bloom Brands Inc.
Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri, and Michigan.
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