Glass House Brands Inc. (OTCQX:GLASF) (OTCQX:GHBWF) (NEO:GLAS.A.U) (NEO:GLAS.WT.U) obtained all local regulatory approvals for the acquisition of the Natural Healing Center ("NHC") dispensaries located in Grover Beach and Lemoore, California, and the transactions have officially closed. Consolidation of the financial results of the Grover Beach and Lemoore stores into Glass House Brands financials will begin effective immediately.
On May 12, 2022, Glass House announced that it had executed definitive agreements to acquire 100% of the equity interests in three Natural Healing Center retail assets: two operating retail dispensaries and one retail dispensary scheduled to open in Q4 2022. This was followed by the announcement in the company’s Q2 earnings release on August 11, 2022 that Glass House had agreed to acquire Natural Healing Center's flagship Grover Beach operating dispensary for $15.9 million, with $8.1 million of the purchase price in assumed debt, $7.7 million in stock and $100,000 in cash net of working capital.
