Wildflower Marijuana (CSE:SUN) announced it signed an agreement for the acquisition of cannabis-related businesses in California.
As quoted in the press release:
Wildflower will acquire the maximum number of licenses one party may hold which will permit the Company to conduct any cannabis activity from seed to sale in the city of Los Angeles. The licenses include medicinal and adult use storefront and delivery, medicinal and adult use cultivation specialty indoor, medicinal and adult use manufacturer level 1 and medical and adult use distributor licenses for both the City of Los Angeles and the State of California.
Wildflower CEO, William MacLean stated, “This is a phenomenal opportunity for Wildflower. We are not aware of anyone in Los Angeles holding all these licenses. This will give us a huge first mover advantage over other cannabis companies trying to penetrate the California and LA markets. This is unique as it will allow Wildflower to not only expand its existing business in California but to take advantage of the other licenses and a Los Angeles dispensary which has been operating profitably for about 15 years.”