Vertical Announces Major Cannabis Consolidation Ahead of Public…

Vertical Companies™ to Expand Its Multi-State Operations Brands with $462.5 Million Acquisition of UMBRLA Holding Company and Brands

Letter of Intent Signed for Large Scale Merger Bringing Leading Brands with Distribution in More than 700 Retail Dispensaries in CA and OR

LOS ANGELES, June 10, 2019–(BUSINESS WIRE)–Vertical Companies™ (“Vertical”) today announced it has entered into an exclusive letter of intent (“LOI”) with the newly formed UMBRLA, Inc. (“UMBRLA”), a holding company in the process of consolidating several highly-specialized cannabis subsidiaries active in California, Oregon, Nevada, Arizona, and Oklahoma. The companies UMBRLA is consolidating generated over $32 million in cannabis revenue in 2018. Together, these two entities are expected to generate nearly $100 million in 2019 and $321 million in 2020 in cannabis revenue, making Vertical among the largest multi-state operators in

... read more at: https://www.newcannabisventures.com/vertical-announces-major-cannabis-consolidation-ahead-of-public-listing/

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