Chalice Brands Ltd. (OTCQB:CHALF) (CSE:CHAL) announced the signing of definitive agreements and services agreements to acquire two retail stores located in Bend and Corvallis, Oregon from Miracle Greens, Inc and two outdoor cultivation assets in Grants Pass, Oregon from Totem Farms, LLC for total consideration of $2.63 million. The closing of the transaction is subject to approval by the Oregon Liquor and Cannabis Commission and the satisfaction of other closing conditions.
“We are very excited to be able to serve the Bend and Corvallis communities as Chalice’s retail footprint expands to a total of 18 stores owned and managed in Oregon. This transaction is crucial to support our scale and strengthen our vertically integrated operations as we continue to elevate our brand presence on the west coast. Our team is energized to provide best-in-class product offerings and retail experiences as we execute on our collective vision of providing consumers with the next generation of plant-based medicines. We look forward to further capitalizing on significant expansion opportunities in the market as the pathway to full U.S. federal legalization gains momentum,” stated Jeff Yapp, president and CEO of Chalice Brands.
