TORONTO, March 11, 2019 /PRNewswire/ – PRESS RELEASE – SOL Global Investments Corp. has announced that the company has received approval from the Florida Department of Health for the sale and transfer of the 3 Boys Farm license from CannCure Investments Inc. to SOL Global. The approval includes the transfer of all operations and assets, including farms and dispensaries. CannCure is a privately-held Ontario corporation that indirectly owns 100 percent of 3 Boys. SOL Global will acquire CannCure pursuant to the terms and conditions of a previously announced share purchase agreement, the closing of which will be updated in a future press release.
Additionally, 3 Boys intends to open its first two dispensaries in the State of Florida in April of 2019, with an additional six locations in development and expected to be fully operational by the end of the fiscal year. The eight initial dispensary locations are located in prime medical and retail corridors throughout Florida, including St. Petersburg, Fort Myers, Stuart, Port St. Lucie, Fort Lauderdale, Tallahassee, Tampa and North Miami. The dispensaries will be unique in concept, providing a customized patient-centric experience including innovative educational tools highlighting tailored benefits of CBD and medical cannabis products.
3 Boys also intends to commence extraction and processing operations at its new GMP farm and laboratory facility in Indiantown, Fla. by the last week of March 2019. The new facilities include 60,000 square feet of indoor space and 50,000 square feet of greenhouse. Cultivation at the new facility is expected to commence in the 4th quarter of 2019. This new branch will add onto the already robust production capacity of the 3 Boys network which currently harvests 350 pounds of premium-quality cannabis flower per month out of their Ruskin facilities.
The Florida Department of Health’s approval for the transfer of assets