StateHouse issues consideration for increased interest in Haight-Ashbury

StateHouse Holdings announced that the Company has completed the issuance of shares related to its acquisition of a further 29.9% interest in FGW Haight, a cannabis dispensary in San Francisco’s historic Haight-Ashbury district as previously announced on February 15, 2022. The FGW Acquisition has increased the Company’s interest in Harborside San Francisco to 80%. StateHouse acquired the additional interest in FGW through the execution of a securities purchase agreement following the previously announced acquisition of 50.1% interest in FGW that closed on December 18, 2020. Pursuant to the Agreement, StateHouse has issued 1,170,584 common shares in the Company at a price of US $1.50 per share in consideration for the remaining ownership interest. The Company also retains the right of first refusal to purchase, in its discretion, in whole or in part and in one or more closings, the remaining 20% of FGW, subject to regulatory approvals.