Indus Holdings said it has acquired another well-known California marijuana brand, Lowell Herb Co., in a cash-and-stock deal worth $39 million. The terms of the acquisition include $4.1 million in cash along with 22.6 million shares of Indus, which trades on the Canadian Securities Exchange (CSE) as INDS and on the U.S. over-the-counter markets under the symbol INDXF. Los Angeles-based Lowell Herb Co. will change its name to Lowell Farms, according to a news release, and the new entity plans to list on the CSE and the OTC markets on March 5 as LOWL and LOWLF, respectively. As a brand, Lowell specializes in standard marijuana goods, including flower, pre-rolls, concentrates, and vape products. Lowell’s addition to the Indus portfolio gives the parent company an even broader reach into the competitive California market.
Marijuana Business Daily, 02/25/2021 16:10:00