Under the terms of the agreement, shareholders of Blissco will be offered 0.24 shares of Supreme Cannabis Company for each share they hold.
The deal was approved by the boards of directors of both companies.
In addition, Supreme managed to secure irrevocable hard lock-ups from Blissco around 52 percent of shareholders, including the company’s CEO Damian Kettlewell who owns 10 percent of the outstanding stock, to support the sale of Blissco.
Why It’s Important
Blissco, which positions itself as a premium wellness cannabis brand, will join Supreme Cannabis’ portfolio of brands and will operate as Supreme’s health and wellness business.
Kattlewell will continue to head the company, but as part of Supreme’s team and will benefit from the buyer’s expertise, infrastructure and