Pot Co. Buys Calif. Vape Conglomerate For $35M

Law360 (July 22, 2020, 4:22 PM EDT) -- Cannabis cultivator and dispensary operator Red White & Bloom on Wednesday said it has inked a deal to buy a California conglomerate of vape and marijuana product manufacturers for $35 million in cash.

The acquisition of Platinum Vape, which also produces gummies, chocolates and flower products, includes cash payments and a $15 million loan convertible to stock after one year. Platinum Vape shareholders could also reap an added $25 million on the anniversary of closing if the company hits certain milestones.

Red White & Bloom said the acquisition is its first since going public and marks its initial entry into California....

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