Articles from Blum Holdings

Strategic transaction will deepen Blüm's indirect stake in Cookies and will further align its platform with one of the most recognized cannabis brands in the U.S.

DOWNEY, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, today announced the execution of an Amended and Restated Binding Letter of Intent (“A&R LOI”), as previously disclosed in press releases dated January 21, 2025 and February 4, 2025, to acquire 100% of the issued and outstanding common stock of a licensed retail cannabis operator located in Northern California (the “Target”).

Revenue Growth of 26% Year-over-Year, EBITDA Turns Positive Amid Operating Improvements and Streamlined Cost Structure, Net Loss Reduced by Over 80%

DOWNEY, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm”, “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, today provided an update regarding its global settlement with People’s California, LLC and affiliated parties (the “People’s Parties”), previously announced on February 24, 2025.

DOWNEY, Calif., March 13, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, is proud to announce the release of its “2024 Annual Report: Executive Summary”.

DOWNEY, Calif., March 13, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, announced its financial results for the year ended December 31, 2024, marking the completion of a significant financial and operational transformation.

DOWNEY, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, announced today that it has reached a global settlement with People’s California, LLC (“People’s California”) extinguishing over two and a half years of litigation brought by People’s California against Blüm Holdings and its wholly owned subsidiaries (and now debtors-in-possession in Chapter 11 bankruptcy proceedings), Unrivaled Brands, Inc. (“Unrivaled”) and Halladay Holding, LLC (“Halladay” and along with Unrivaled, the “Debtors”).

DOWNEY, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company and cannabis operator, today announced that it has entered into a Binding Letter of Intent (“LOI”) to acquire a premier Northern California dispensary (“Target”). This follows the previously announced Non-Binding Letter of Intent disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on January 15, 2025.

DOWNEY, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm”, “Blüm Holdings,” “we” or “us”), a California-based cannabis operator, today announced the receipt of $900,000 in financing led by Mr. Douglas Rosenberg. This capital will support operational and acquisition-related activities in 2025. Mr. Rosenberg is the Co-Founder and CEO of Mesh Ventures and Co-Founder of 1212 Ventures, both of which hold significant investments in Cookies Creative Productions & Consulting, Inc. (“Cookies”).

DOWNEY, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Blüm Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm”, “Blüm Holdings,” “we” or “us”), a California-based cannabis retailer and brand operator, announced its financial results for the third quarter ended September 30, 2024. These results reflect substantial progress in financial stability, operational efficiency, and continued momentum across Blüm's core retail and brand segments.

DOWNEY, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announces the filing of a petition for Chapter 11 bankruptcy by its wholly owned subsidiary Unrivaled Brands, Inc. (“Unrivaled”). The filing comes following a history of “bitter activist litigation from People’s California LLC (“People’s”)”1 and its principals Frank Kavanaugh, Bernard Steimann, and Jay Yadon.”

SANTA ANA, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Blüm Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announced its financial results for the second quarter ended June 30, 2024. These results not only reflect our strong financial performance but also underscore the effectiveness of our ongoing strategic restructuring, debt reduction, and operational streamlining.

SANTA ANA, Calif., July 12, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announces two more legal victories by its wholly owned subsidiary, Unrivaled Brands, Inc. (“Unrivaled”), against People’s California, LLC (“People’s”). This time, Unrivaled successfully defended an ex parte application brought by People’s, with the Court denying People’s request for a multi-million dollar judgment to be entered against Unrivaled. At the same hearing, the Court granted Unrivaled’s application for a preliminary injunction barring People’s from attempting to foreclose on a building owned by an affiliated entity and invalidating a prior foreclosure attempt by People’s, following a previously granted Temporary Restraining Order in favor of Unrivaled.

SANTA ANA, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announces a significant milestone in its ongoing strategic financial restructuring. On June 10, 2024, Unrivaled Brands, Inc., a wholly owned subsidiary of Blüm Holdings, completed the sale (the “Disposition”) of its controlling membership interest in People’s First Choice LLC (“PFC”) to Haven Nectar LLC (“Haven Nectar”). PFC owns and operates a cannabis retail dispensary campus in Santa Ana, California named Blüm Santa Ana.

SANTA ANA, Calif., June 12, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company with subsidiaries operating throughout California, announces the successful outcome in the unlawful detainer action brought by Unrivaled Brands, Inc.’s then subsidiary People’s First Choice, LLC (“Blüm Santa Ana”) against Peoples Vape, LLC (“People’s Vape”), formerly known as PF-People's Grand TC, LLC, a subsidiary of People's California. On June 6, 2024, the Court issued a Minute Order ordering that permits Blüm Santa Ana to obtain a writ of possession for the premises, cancels People’s Vape’s rental agreement, and allows Blüm Santa Ana to obtain a money judgment against People’s Vape resulting from People’s failure to pay rent since at least March 2023.

SANTA ANA, Calif., May 15, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company which through its subsidiaries has operations throughout California, announced its financial results for the first quarter ended March 31, 2024.

SANTA ANA, Calif., May 06, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company which through its subsidiaries has operations throughout California, remains optimistic about the Drug Enforcement Administration’s (“DEA”) decision to reschedule marijuana as a lower-risk substance. This groundbreaking move is anticipated to reform the cannabis industry by alleviating longstanding financial and operational burdens.

Executive Summary Highlights 18 Months of Transformation

SANTA ANA, Calif., April 16, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company with operations throughout California, today reported financial results for the full year and fourth quarter ended December 31, 2023.

SANTA ANA, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- Blüm Holdings, Inc. (OTCQB: BLMH) (“Company,” “we” or “us”), a cannabis company with operations throughout California, releases a statement publicly denouncing the sexual abuse of children. The statement is released in response to recently filed court documents that contain explicit detail of Bernard Steimann’s alleged sexual molestation of a minor.

SANTA ANA, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Blüm Holdings, Inc. (OTCQB: BLMH) (“Company,” “we” or “us”), a cannabis company with operations throughout California, announced today that its subsidiary, Unrivaled Brands, Inc. (“Unrivaled”), filed a civil complaint against Bernard Steimann, Daniel Troup, and Troup Construction for civil theft, conversion, and declaratory relief arising from the alleged theft of Blüm’s signage at approximately 5:30 a.m. the morning of January 18th from the Blüm Santa Ana store. A police report, a copy of which was attached to the complaint, was filed on January 31st for “Grand Theft from Building $950 or more.”

SANTA ANA, Calif., March 01, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company with operations throughout California, announced today the grant of a Temporary Restraining Order against New Patriot Holdings, Inc. (“New Patriot”), an entity controlled in part by Jay Yadon. Mr. Yadon is also a principal of People’s California, LLC, an entity involved in separate litigation with Unrivaled Brands, Inc., a wholly-owned subsidiary of Blüm. Bernard Steimann is the Managing Member of People’s California.

SANTA ANA, Calif., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm Holdings,” “we” or “us”), is pleased to share certain highlights of recently announced proposed acquisition and rollup transaction of three Sacramento retail dispensaries (the “Proposed Acquisition”). Additionally, the Company is excited to introduce a new brand, Turkey Bag Heroes, as part of the strategic rollup efforts in the retail market.

SANTA ANA, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Blüm Holdings, Inc. (OTCQB: BLMH) (“Company,” “Blüm Holdings,” “we” or “us”), a cannabis company with operations throughout California, is pleased to announce the execution of a Binding Letter of Intent (“Binding LOI”) with Operators Only Corporation (“Operators Only”) to add three additional dispensaries to its retail portfolio (the “Proposed Acquisition”). If completed, the Proposed Acquisition could represent a significant milestone in Blüm Holdings’ expansion strategy and may help solidify the Company’s position as a key player in Northern California’s retail landscape.

SANTA ANA, Calif., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: UNRVD) (“Company,” “Blüm Holdings”, “we” or “us”), a cannabis company with operations throughout California, is pleased to announce that as part of a successful strategic reorganization, it will begin trading as “BLMH” on the OTCQB and no longer trade as “UNRVD”. The Company began trading as “BLMH” beginning on Monday, February 12, 2024.

SANTA ANA, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: UNRVD) (“Company,” “Blüm Holdings”, “we” or “us”), a cannabis company with operations throughout California, announces preliminary and unaudited financial results for its fiscal year and quarter ended December 31, 2023. This pivotal period in our journey was underscored by decisive strategic actions, significant debt reduction, and a comprehensive corporate restructuring, including a transformative overhaul of the board of directors and executive management team, and the creation of a new holding company structure. We achieved these milestones amidst the challenging backdrop of litigation, inflation, and industry-specific taxation, further compounded by the recent hyper increase in interest rates, which has posed significant economic headwinds for the entire cannabis industry.

SANTA ANA, Calif., Feb. 05, 2024 (GLOBE NEWSWIRE) -- Blum Holdings, Inc. (OTCQB: UNRVD) (“Company,” “Blüm Holdings”, “we” or “us”), a cannabis company with operations throughout California, announces its wholly-owned subsidiary Unrivaled Brands’ divestment of its final California cultivation facility, a decision which aligns to a broader realignment strategy concentrating the Company's efforts on operating and expanding profitable cannabis assets and developing brands.