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Harborside Acquires Sublime for US$43.8 Million


On July 2, 2021, Harborside Inc. acquired 100% of the issued and outstanding equity of Sublimation Inc. (“Sublime”) for a total consideration of US$43.8 million, comprised of approximately US$38.4 million payable through the issuance of 207,579.66 multiple voting shares of Harborside and approximately US$5.4 million in cash (of which approximately US$3.4 million will be used to repay existing indebtedness of Sublime).

Sublime is an award-winning cannabis manufacturing company located in California.

Cassels is acting as Canadian legal counsel to Harborside.

RELATED EXPERTISE: Securities | Mergers & Acquisitions | Cannabis | Tax & Trusts