Pot Co. Backed By Jay-Z Nabs Dispensaries For Up To $56M – Law360

By Sarah Jarvis (October 4, 2021, 6:42 PM EDT) — Jay-Z-backed California cannabis company The Parent Co. announced Monday that it has signed agreements to acquire dispensary and delivery company Coastal Holding Co. LLC for up to $56.2 million in cash and company shares.

The announcement comes as Coastal is facing a federal lawsuit filed last month by a company run by the ousted co-founders of cannabis giant MedMen, which alleged Coastal’s principals were planning to sell off the company to benefit themselves, without consulting the shareholders who should have a say in the matter. That suit is ongoing in the Central District of California.

Coastal has five operating dispensaries in…

Read More Here…

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Bud Digest

This entry was posted in Vaporizer E-Cigarette Stocks News. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback.

Leave a Reply

Your email address will not be published. Required fields are marked *

Your email address will never be published.