Settle down, Don, I’m trying to keep up here.
Golden Leaf Holdings (GLH.C) has announced a binding letter of intent to acquire JuJu Joints, another step along the company’s stated path to become an aggregator of brands across multiple states and Canada..
JuJu Joints is a leading disposable cannabis oil vape e-joint product that utilizes proprietary vape technology and has established strong brand equity and market penetration in Washington state, Oregon, Nevada, California and Canada.
Don Robinson, CEO of Golden Leaf, said in a news release, “The legal cannabis market is a target rich environment for a company like Golden Leaf that has a management team and board of directors with years of experience building businesses organically and through acquisition. While we will be deliberate in pursuing strategic acquisition opportunities, we do believe that such a strategy is in the best interests of Golden Leaf and our shareholders.”
GLH will fork out $4.5m as part of the deal, split between cash payments and shares.
Seattle newspaper The Stranger said of Juju’s back in October 2014:
“They went on the market in April, and so far, 25,000 Juju Joints have been sold in the medical marijuana market and another 10,000 in the recreational market. Ocean Greens, a recreational marijuana store on Aurora, sold 500 Juju Joints during the first two weeks of October, and it hadn’t even had its grand opening yet. Ocean Greens owner Oltion Hyseni says there are a lot of reasons they’re so popular.
“A lot of people that are new to recreational marijuana or are coming back after years of nonsmoking, they prefer vapes over smoke because their habits are wiped out since they were teenagers or young adults.”
Juju Joints are good for people who don’t want to get so baked they can’t talk, don’t want to set something on fire, and don’t want to inhale carcinogens.
— Chris Parry
FULL DISCLOSURE: Golden Leaf Holdings is an Equity.Guru marketing client, and the author owns stock in the company.