Demand Brands has entered into a definitive arrangement agreement to acquire Show Me State LLC - Cannabis Farm.
Show Me State LLC - Cannabis Farm is a 33-acre working farm with a 5500 sq. ft. indoor facility producing 120 lbs. of indoor flower every 8 weeks. Cloning bays in the Farm produce 2000 clones every 8 to 12 days on 10 acres of outdoor flower cultivation and the Company expects to harvest 45,000 plants this upcoming season. Included in the Transaction is the Show Me State LLC mobile drying and mobile extraction units and related IP.
Upon completion of the Transaction and formal integration the combined business will maintain operations in both California and Oklahoma, comprising 3 cultivation sites and an Oakland processing facility with a total capacity of 150,000 square feet. This will be in addition to the Company's Cannabis Outlet dispensary in Atwater CA, which serves both medicinal and recreational adult cannabis markets.
Ian Dixon, Chief Executive Officer of DMAN said: 'We believe the synergistic acquisition of the Show Me State businesses will allow us to rapidly scale. Our companies share similar customer values with a focus on core market sectors. The combination of Oklahoma and California offers us an opportunity to leverage our respective foundations as Show Me State LLC has an established presence giving us immediate entry into the medicinal space within Oklahoma."
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