C21 Investments Receives Regulatory Approval for Transfer of Phantom Farms' Oregon Licenses – Cannabis Business Times

VANCOUVER, Jan. 16, 2019 /CNW/ – PRESS RELEASE – C21 Investments Inc. has announced that it has received approval from the Oregon Liquor Control Commission for the transfer of all the operating licenses of Phantom Farms in Oregon. The formal closing of the Phantom Farms transaction is scheduled to occur on or about Jan. 30, 2019. C21 Investments has also completed the acquisition of Silver State Relief, LLC and Silver State Cultivation, LLC, as announced on Jan. 10, 2019.

Phantom Farms has outdoor cannabis cultivation facilities totaling 80,000 square feet plus an additional 40,000 square feet under development in Southern Oregon. In addition, they operate a 5,600-square foot facility which includes a wholesale distribution warehouse and an extraction laboratory, plus a 7,700-square-foot, state-of-the-art indoor grow facility in Central Oregon.

“Phantom Farms is a high-quality operation with a talented team producing some of the finest products in Oregon. Phantom is also one of Oregon’s oldest and most recognized premium brands in a consumer products sector where few genuine brands exist,” said Robert Cheney, president and CEO of C21 Investments. “Phantom Farms is among several successful companies set to join C21 Investments in order to make us a world-class, vertically integrated cannabis company.”

“We are incredibly excited to join the C21 Investments team where we have the platform and opportunity to push our brand beyond Oregon,” said Sky Pinnick, CEO of Phantom Farms. “Branded consumer packaged goods are key to unlocking the potential of the cannabis industry in the U.S.”

Silver State’s businesses are an established and profitable, vertically integrated cannabis cultivation, processing and retailing operation with trailing 12-month revenue of US$24.5 million. It has a 155,000-square-foot fully licensed cultivation and processing facility and a 8,000-square-foot retail dispensary, located in Sparks, Nev. The retail dispensary is a “cannabis superstore,” with 21

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