Red White & Bloom and Aleafia Health have mutually terminated the proposed business combination transaction (the “Proposed Transaction”), as detailed in the joint press release issued on June 7, 2023. The termination is without liability or cost to either party.
As a result of the termination of the Letter Agreement, and in light of the status of the Aleafia Senior Secured Loan Agreement, disinterested members of the board of directors of Aleafia continue to explore and evaluate potential strategic alternatives that may be available to Aleafia with the goal of maximizing value for Aleafia stakeholders. Aleafia does not intend to comment further with respect to the ongoing strategic review process unless and until it determines that additional disclosure is appropriate in the circumstances and in accordance with applicable securities laws.
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Red White & Bloom