Gowling WLG advises Bluma Wellness on proposed US$213-million acquisition by Cresco Labs

21 January 2021

On January 14, 2021, Bluma Wellness Inc. (CSE:  BWEL.U) (OTCQX: BMWLF) (“Bluma”) announced that it had entered into a definitive agreement with Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) pursuant to which Cresco Labs will acquire all of the issued and outstanding shares of Bluma in an all-share transaction that values Bluma at an equity value of US$213 million. The transaction will be completed by way of plan of arrangement under the Business Corporations Act (British Columbia).

Gowling WLG (Canada) LLP is advising Bluma on the transaction, with a multi-disciplinary team comprised of members from the firm’s corporate, securities, competition, tax and advocacy practices and led by Peter Simeon, co-leader of Gowling WLG’s Cannabis Group. “This agreement represents a major step for Bluma. Our team is privileged to help Bluma navigate the many facets of this complex transaction, and we look forward to seeing it come to a successful close in the months ahead,”  said Simeon.

At Gowling WLG, we help a wide range of cannabis industry participants manage risk and find success across a number of fronts. We also work closely with entities from other sectors that are looking to leverage the growth opportunities presented by cannabis. Learn more