Dec. 18, 2025 — Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “Blüm Holdings,” “we” or “us”), a California-based publicly traded holding company, today announced the successful closing of its acquisition of a high-volume Bay Area cannabis retail dispensary through the purchase of all outstanding equity of the operating entity.
The acquired dispensary is a well-established, fully licensed retail operator located in a major Northern California market and has generated approximately $12.0 million in annual revenue with a long operating history and strong local customer base. The transaction further expands Blüm’s Northern California footprint.
“This acquisition reflects our continued focus on disciplined, opportunistic growth,” said Sabas Carrillo, Chief Executive Officer of Blüm Holdings. “We are acquiring durable retail assets with real revenue, real customers, and meaningful operating history, positioning the Company to benefit from both improved execution at the asset level and broader structural tailwinds impacting the U.S. cannabis industry.”
The transaction was completed pursuant to a stock purchase agreement and included a combination of cash and equity consideration. The Company noted that all required closing conditions have been satisfied.
Carrillo added, “As the regulatory backdrop continues to evolve at the federal level, including ongoing discussions around potential reclassification of cannabis under the Controlled Substances Act, we believe scaled, compliant retail operators are well positioned to benefit from broader market development.”
About Blüm Holdings
Blüm Holdings is a leader in the cannabis sector. Our commitment to quality, innovation, and customer service makes us a trusted name in the cannabis industry, dedicated to shaping its future. Blüm Holdings, through its subsidiaries, operates leading dispensaries throughout California as well as several leading company-owned brands including Korova, known for its high potency products across multiple product categories, including the legendary 1000 mg THC Black Bar. As both a holding company and a marketing platform, Blüm aims to leverage its growing ecosystem to accelerate customer and retail investor acquisition, increase brand awareness, and create value across its portfolio.
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