Cannabis News for Florda
Bluma Wellness Inc. (the “Company” or “Bluma Wellness”) (CSE: BWEL.U) (OTCQX:BMWLF) is pleased to provide its patients and investors with an end-of-month sales and... Bluma Wellness Inc. Provides End-of-Month Operations Update and Financial Highlights for February 2021

Bluma Wellness Inc. (the “Company” or “Bluma Wellness”) (CSE: BWEL.U) (OTCQX:BMWLF) is pleased to provide its patients and investors with an end-of-month sales and operations report for the month ended February 28, 2021. The financial highlights disclosed in this press release are management prepared and have not been audited or reviewed by the Company’s auditors. Unless otherwise indicated, all amounts are expressed in U.S. dollars.

Financial Highlights, February 2021

Bluma Wellness is pleased to provide the following sales and financial highlights from the month of February 2021:

  • Gross Revenue1: $2,733,756
  • Revenues less cost of sales before fair value adjustments: approx. $1,125,000
  • Gross Price Per Pound2: $8,817.79
  • Ounces of Dried Medical Cannabis Flower Sold: 4,704.46 oz
  • Milligrams (mg) of tetrahydrocannabinol (THC) Sold: 6,205,730 mg

During the month of February, 3 Boys Farm, LLC, doing business as One Plant Florida (“One Plant Florida”), the Company’s wholly-owned, licensed operating subsidiary, averaged sales of 672 ounces of dried medical cannabis flower per retail dispensary, and 886,533 mg of distillate/oil sold per retail dispensary. One Plant Florida’s February sales positioned it third in ounces of dried medical cannabis flower sold per retail dispensary when compared against all other Medical Marijuana Treatment Centers (“MMTCs”) in Florida, and ninth in mg of THC sold per retail dispensary when compared against all MMTCs in Florida, in each case according to published data from the Florida Office of Medical Marijuana Use (“OMMU”).

Additionally, Bluma Wellness is pleased to share that One Plant Florida closed the month of February with $461,000 in gross revenue between Friday, February 26 and Sunday, February 28.

THC Sold (mg)/average oz sold per retail dispensary compared to competitors, February 20213

  • Trulieve: 1,432 oz of dried medical cannabis flower / 4,557,160 mg of THC sold per dispensary, number one in average ounces of medical cannabis flower sold per dispensary
  • Grow Healthy: 936 oz of dried medical cannabis flower / 1,882,693 mg of THC sold per dispensary, number two in average ounces of medical cannabis flower sold per dispensary
  • One Plant: 672 oz of dried medical cannabis flower / 886,533 mg of THC sold per dispensary, number three in average ounces of medical cannabis flower sold per dispensary
  • Surterra Wellness: 643 oz of dried medical cannabis flower / 1,972,197 mg of THC sold per dispensary, number four in average ounces of medical cannabis flower sold per dispensary
  • Harvest: 621 oz of dried medical cannabis flower / 1,341,494 mg of THC sold per dispensary, number five in average ounces of medical cannabis flower sold per dispensary
  • GTI: 523 oz of dried medical cannabis flower / 630,475 mg of THC sold per dispensary, number six in average ounces of medical cannabis flower sold per dispensary
  • Curaleaf: 503 oz of dried medical cannabis flower / 1,641,869 mg of THC sold per dispensary, number seven in average ounces of medical cannabis flower sold per dispensary
  • AltMed Florida (MuV): 490 oz of dried medical cannabis flower / 2,300,998 mg of THC sold per dispensary, number eight in average ounces of medical cannabis flower sold per dispensary

Looking Ahead (Winter 2021)

Bluma Wellness is pleased to announce that One Plant Florida expects to open its eighth retail dispensary and delivery hub, to be located in Bonita Springs, FL, on March 12, 2021, subject to the receipt of all required municipal and regulatory approvals, including from the OMMU. The retail dispensary will be located at 28500 Bonita Crossings, Bonita Springs, FL, 34135.

One Plant Florida opened its seventh retail dispensary and delivery hub location in the State of Florida, in Fern Park (Orlando), in December 2020.

Bluma Wellness intends to open additional One Plant Florida retail dispensaries and/or delivery hubs in North Miami (April 2021), Fort Lauderdale (May 2021), Oakland Park (June 2021) and Tallahassee (late June 2021), in each case subject to the receipt of all required municipal and regulatory approvals, including from the OMMU.

Shareholder Meeting

As previously announced, the Company will hold a special meeting of its shareholders (“Bluma Shareholders”) to be held virtually at https://web.lumiagm.com/294537536, beginning at 10:00 a.m. (Toronto time) on March 19, 2021 (the “Meeting”). The Meeting is being held to consider and approve, among other things, the Company’s proposed arrangement with Cresco Labs Inc. (“Cresco”) (CSE:CL) (OTCQX:CRLBF) to be completed by way of a plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia), pursuant to the arrangement agreement entered into between the Company and Cresco on January 13, 2021. The Meeting will be held in accordance with the terms of an interim order of the Supreme Court of British Columbia obtained on February 11, 2021. Bluma Shareholders of record at the close of business on February 8, 2021 will be entitled to attend and vote at the Meeting.

For more information about the Meeting, please see the Company’s news release dated February 26, 2021 and the management information circular of the Company dated February 12, 2021 (the “Circular”). The Circular and related meeting materials are available on the Company’s SEDAR profile at www.sedar.com.

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