White River Energy Corporation (CE)【WTRV】株式ニュース

News out

Fortium Holdings Announces Purchase of Two California Cannabis Licenses

Fortium’s cannabis subsidiary Elysian acquires two commercial licenses in California

FAYETTEVILLE, Ark.--(BUSINESS WIRE)-- Fortium Holdings Corp (“Fortium” or the “Company”) (OTC: FRTM), today announced that its wholly-owned cannabis subsidiary, Elysian Premium Corp. (“Elysian”), has entered into an agreement to acquire 80% of the issued and outstanding capital stock of Treehouse Company Inc. (“Treehouse”) for $200,000. In connection with the agreement the Company and Elysian entered into a memorandum of understanding which contemplates Elysian’s purchase of the remaining 20% of Treehouse capital stock for an additional $200,000 following the required regulatory approval. Specific terms of these agreements, which remains subject to compliance with applicable state and local laws and regulations, will be provided at a future date. Treehouse’s key assets include two licenses for commercial cannabis dispensaries in the State of California, license numbers C11-0000999 and C9-0000379. The agreements have been drafted and the transactions have been structured to comply with the California Department of Cannabis Control (“DCC”) license transfer rules and regulations. Elysian is performing a market analysis to identify optimal locations to go-to-market with each license.

“Today’s announcement marks a critical step in executing on our seed-to-store strategy and plan to establish Elysian as a best-in-market luxury cannabis brand,” stated Richard Horgan, Chief Executive Officer of Fortium. “Our team remains active in pursuing additional near-term opportunities to develop and implement vertically integrated operations of Elysian, while accelerating and expanding our growth objectives.”

About Fortium Holdings Corp

Founded in 2021, Fortium is a diversified holding company. The company has two wholly-owned subsidiaries: Elysian Premium Corp. (“Elysian”) and Norr LLC (“Norr”). Elysian’s strategy is to establish a premium luxury cannabis brand with the intention of running a fully vertically integrated model from seed-to-store as a multi-state operator. Norr is a direct-to-consumer focused action sports company that will provide quality core level equipment through platforms like Amazon. Norr’s goal is to break the barrier of entry to action sports for the general consumer market.