SALINAS, Calif., May 25, 2022 (GLOBE NEWSWIRE) — Lowell Farms Inc. (the “Company”) (CSE: LOWL; OTCQX: LOWLF), a California-born innovator in cannabis cultivation and maker of the legendary brand Lowell Smokes, is announcing the acquisition of advanced pre-roll production equipment and capabilities from Canadian cannabis brand All Good Collective. The acquisition will accelerate Lowell Farms’ ability to offer end-to-end automation of large-scale pre-roll production.
At Lowell, we are committed to bringing to market the absolute best cannabis smoking experience possible and that journey led us to All Good Collective.
George Allen, Lowell Farms Inc. Chairman of the Board
In addition to being a far superior product than anything we have seen in the category, the equipment from All Good will allow us to scale production and achieve a pre-roll price-point that rivals the cost of flower.
As part of the transaction, Lowell Farms Inc. will manufacture and sell All Good Collective’s successful line of pre-rolls from Canada into the California cannabis market, where they will be sold alongside Lowell’s existing line of award-winning products. Lowell intends to offer production capacity to other cannabis brands seeking to showcase their flower in this exciting new format.
The transaction will be treated as an asset acquisition. Lowell will issue a combination of stock and cash upon delivery of the equipment with an approximate current value of US $4.1m as consideration. Lowell anticipates that the transaction will close this summer.
More information about Lowell Farms Inc. brands can be found at lowellfarms.com.
ABOUT LOWELL FARMS INC.
Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) (the “Company”) is a California-based cannabis company with advanced production capabilities supporting every step of the supply chain, including cultivation, extraction, manufacturing, brand sales, marketing, and distribution. Lowell Farms grows artisan craft cannabis with a deep love and respect for the plant, and prides itself on using sustainable materials – from seed to sale – to produce an extensive portfolio of award-winning originals, including Lowell Herb Co, House Weed, MOON, and Kaizen, for licensed retailers statewide.