Humble & Fume Inc. HUMBF HMBL has formed HC Solutions Holdings Inc., a joint venture with Green Acre Capital Distribution Corp., for the purpose of distribution of cannabis throughout the United States, initially focused on accelerating the company's expansion into cannabis distribution operations in California. Subsequent the formation of the JV, Green Acre completed a $2 million investment directly in the JV. Green Acre has funded its investment through an option agreement with Johnson Brothers, a leading wine, spirits and beer distributor in the United States.
"The additional $2 million investment by Johnson Brothers, funded through their Green Acre option agreement, demonstrates continued support for our US expansion strategy. Humble is excited to launch in the California market, delivering something new to the cannabis brands in that area," stated Joel Toguri, CEO of Humble. "We are actively executing on our growth strategy. As our business evolves and expands, we continue to be hyper focused on sustainable profit generation and positive cash flow to deliver long-term shareholder value."
Photo: Courtesy of Jeff W on Unsplash
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