Mint Shango JV to acquire membership interests in Cannabist's Florida entity
MINT Cannabis and Shango announced that they have, through a joint venture, Mint Shango JV, entered into a definitive agreement to acquire all membership interests in The Cannabist Company Holdings Inc.'s Florida subsidiary. This acquisition of a dominant operational Florida vertical is anticipated to provide immediate scale for the MINT SHANGO JV in this state through 14 dispensary locations, two cultivation and manufacturing facilities, all inventory, and its MMTC license for total consideration of $5M. As part of the MINT/SHANGO Transaction, the MINT/SHANGO JV will retain its existing indoor cultivation facility, and The Cannabist Company has separately divested its Lakeland facility. Additionally, the MINT SHANGO JV has also entered into an agreement to transfer to The Cannabist Company all of the outstanding equity interests in its existing MMTC license holder which they plan to divest upon close.
