Ironton Properties, LLC, a subsidiary of BellRock Brands Inc. DXBRF BRCK, has finalized the sale of its Denver real property to a third-party buyer for $2.5 million. Approximately $2.0 million of the proceeds from the sale were used to fully repay a promissory note entered into in May of 2022. The remaining proceeds, after fees and other costs associated with the property sale, will be used to pay down a portion of a CA$3.85 million secured promissory note held by a consortium of private lenders.
This sale seems to be the latest step in a restructuring the company has been undertaking. BellRock Brands recently made a decision to leave the Florida market to focus on its Midwest presence. The company entered into a licensing agreement with Motacann Holdings, LLC to bring its Dixie and Mary's Medicinals brands to Missouri. It also entered into an agreement to buy JRMI27, LLC, a medical and adult-use marijuana product manufacturer in Jackson, Michigan.
About BellRock Brands
BellRock Brands is a multi-state house of brands and intellectual property-focused CPG operators. BellRock's two flagship brands, Dixie Brands and Mary's Medicinals offer over 200 SKUs. The BellRock manufacturing and distribution footprint continues to expand and currently spans nine US states and Canada.
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