4 Firms Steer Harborside's $43M Deal For Pot Co. Sublime

Law360 (June 1, 2021, 6:37 PM EDT) -- California cannabis retailer Harborside announced Tuesday that it would acquire Oakland-based cannabis product manufacturer Sublimation Inc. for $43.8 million, in a deal steered by law firms Duane Morris, Cassels Brock & Blackwell, CGL LLP and Gowling WLG.

The cash-and-stock deal will consist of $38.4 million paid out in Harborside Inc. voting shares and approximately $5.4 million in cash, the company said, with some $3.4 million of the cash to be earmarked for paying down existing debts of Sublimation, which does business as Sublime.

"This acquisition adds an iconic, award-winning California brand, with an exceptional product offering and consumer following, to our...

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