Golden Leaf Holdings Ltd. acquired NevWa LLC's cultivation and extraction license in Sparks, Nev., for $2.1 million in cash.
The acquired licenses enable the distribution and sale of medical marijuana across Nevada, including Las Vegas and Reno.
Golden Leaf Director Peter Saladino owns 18.75% of NevWa and will receive a portion of the proceeds received by the company.
Saladino abstained from all board meetings and voting regarding the transaction.
AC Group Financial Inc. acted as an adviser in the acquisition.