Ann Arbor, MI--Skymint Brands, a vertically integrated cannabis company, announced under an MSA, the completion of its previously announced definitive agreement to acquire 3Fifteen Cannabis, one of Michigan's leading cannabis retail chains from majority owner Merida Capital Holdings.
Key transaction highlights include:
- A combined retail portfolio of 29 locations in operation, with an additional 15+ in the pipeline to be opened over the next year
- The dominant presence in every major metro market in Michigan (a $1.9 billion market and 3rd largest in the U.S.)1: Grand Rapids(4), Greater Lansing (6), Detroit (3) / Metro Detroit (6), and Ann Arbor (2)
- Expanded distribution of the brand and partner products; Skymint stores feature 60+ brands and more than 250 products across all cannabis categories
- Two indoor cultivation facilities totaling 77,000 square feet with a third indoor cultivation facility — totaling 184,000 square feet — are due to come online this year
- A state-of-the-art indoor processing facility producing the highest quality distillate, live products, concentrates, and edibles
- A 1,000-acre sustainable outdoor farm
Read more in the entire press release.