Columbia Care to acquire Colorado weed company for $140 million in mostly stock deal

Cannabis producer Columbia Care Inc. said late Tuesday that it was buying The Green Solution for $140 million. The company said the deal includes $110 million of Columbia Care stock, $15 million in secured debt, a $15 million seller’s note and the “potential” for a “additional milestone payment in 2021.” The Green Solution is a vertically integrated cannabis company that operates 21 dispensaries in Colorado, reporting $73 million in sales for the 12 months that ended in September. Columbia Care also released earnings late Tuesday, reporting net losses of $19.9 million on sales of $22.1 million. The company said it had $84.5 million in cash on hand at the end of September and no debt.

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