Glass House Brands Inc. (OTCPK:GLAS.F) completed the acquisition of Plus Products Inc. (OTCPK:PLPR.F).
The transaction is subject to certain customary closing conditions for transactions of this nature, including, among others, the approval of PLUS' creditors, Glass House Brands shall have a minimum of $6 million in aggregate working capital, third-party waivers, approval by Board of Directors of Glass House Brands Inc. due diligence, approval of the Supreme Court of British Columbia in the context of the CCAA proceedings, and the approval of the Neo Exchange. On January 20, 2022, Plus Products filed an application in the Supreme Court of British Columbia seeking an order extends the stay period in the CCAA proceedings until the date that PricewaterhouseCoopers Inc., in its capacity as court-appointed monitor of the Company is discharged by further Court order. The transaction is expected to close in Q1 2022. As of March 17, 2022, the transaction is expected to close in April 2022. Mike Stephens and Kibben Jackson of Fasken Martineau DuMoulin LLP acted as the legal advisor for Plus Products Inc. Andrea FitzGerald of Cassels Brock & Blackwell LLP acted as the legal advisor for Glass House Brands Inc.
Glass House Brands Inc. (OTCPK:GLAS.F) completed the acquisition of Plus Products Inc. (OTCPK:PLPR.F) on April 28, 2022.