Multistate operator and vertically built-in marijuana firm Harvest Health & Recreation finalized a deal to promote eight California retail shops to Los Angeles-based High Times Holding.

Under phrases of the lately up to date settlement, Harvest has bought a portfolio of fairness and property of eight operational and deliberate dispensaries in California for a complete of $61.5 million, together with as much as $1.5 million in money and $60 million in inventory.

In a second closing, topic to varied situations and regulatory approvals, High Times might acquire two more deliberate dispensaries in California from Harvest for $6 million in further shares of High Times.

The deal means the bulk of the entities modified palms from Have a Heart founder Ryan Kunkel to Harvest to High Times in a matter of months.

Arizona-based Harvest Health introduced a deal in March to accumulate Have a Heart in March for $85.8 million.

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