SOL Global Investments Corp. is proposing changing its business from an international cannabis investment company to a U.S. multistate cannabis operator.
The company will be under the life sciences category of the Canadian Securities Exchange. Its initial operations will include assets of 3 Boys Farm in Florida, licensed dispensaries operated by MCP Wellness in Michigan and cannabis cultivator Northern Emeralds as well as dispensary chain One Plant in California.
Toronto-based SOL Global expects to close all asset-related transactions in October, subject to closing conditions.
SOL Global has also appointed Adam Wilks as the COO of the company. Previously, Wilks served as the COO of One Plant.
Additionally, the company will also change its name to Bluma Wellness Inc. The proposed business and name change are subject to certain conditions, including shareholder approval and the approval of the Canadian Securities Exchange.
SOL Global has engaged Duff & Phelps Canada Ltd. to determine a fair market valuation of its current assets.