Pot Co. Indus Cancels $20M Deal For Vape Manufacturer

Law360 (July 20, 2020, 5:46 PM EDT) -- California cannabis company Indus Holdings said Friday it is pulling back on a plan to expand beyond the Golden State, canceling a planned $20 million acquisition of a marijuana vape manufacturer with Nevada assets.

Indus Holdings has terminated the planned purchase of W Vapes and is selling a Las Vegas cultivation space it bought from the company in December, Indus said in a release. The facility is being sold to affiliates of Las Vegas mega-dispensary Planet 13, with $500,000 going to Indus at signing and another $2.8 million after closing.

The cancelled transaction removes an $8 million liability from Indus, according...

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