Acreage Holdings, Inc., a multi-state operator of cannabis cultivation and retailing facilities in the U.S., is closing the acquisitions of cultivation, processing and retail operations in Ohio by its subsidiary, High Street Capital Partners, LLC.
Acreage entered into purchase agreements for these operations in Ohio during the summer of 2018 for the total purchase price of approximately $7.1 million in cash, $7.1 million in notes and 1.1 million shares of High Street, which are convertible into shares of Acreage, with the remaining $3.3 million worth of notes repaid today.
Under the terms of the agreements, Acreage acquired all of the membership interests of Greenleaf Gardens, LLC, which operates a cultivation license in Ohio, Greenleaf Therapeutics, LLC, which operates a processing license in Ohio and Greenleaf Apothecaries, LLC, which operates five retail dispensaries in Ohio (together “Greenleaf”). Upon completion of these acquisitions, Acreage will subsequently consolidate the results of Greenleaf into its consolidated financial statements.
