Welcome to our dedicated page for Blum Holdings news (Ticker: BLMH), a resource for investors and traders seeking the latest updates and insights on Blum Holdings stock.
Blüm Holdings, Inc. (OTCQB: BLMH) is a California-based publicly traded holding company and cannabis operator whose news flow centers on acquisitions, capital structure actions, and operating performance. Company press releases highlight its activities in acquiring licensed cannabis retail dispensaries in Northern California and the Bay Area, integrating these assets under management services agreements, and expanding its portfolio of company-owned brands such as Korova.
Investors following BLMH news can expect updates on stock purchase agreements, binding term sheets, and amended letters of intent related to cannabis retail operators. Blüm frequently reports on the closing of acquisitions, expected revenue contributions from new stores, and the use of performance-based earn-outs tied to revenue and EBITDA benchmarks. These announcements provide insight into how the company is building its retail footprint and brand presence across California.
Blüm’s news releases also cover financing and balance sheet developments. The company has disclosed multiple unsecured and secured promissory notes with conversion features, capital raises from accredited investors, and a significant Debt Conversion Agreement that converted approximately $3.05 million of principal and accrued interest into common stock at a fixed price. Such items illustrate how Blüm manages liquidity, restructures obligations, and adjusts its capital structure.
Operational updates form another key category of BLMH news. The company has reported quarterly financial results, including trends in revenue, gross margin, operating expenses, EBITDA, and Adjusted EBITDA, as part of its narrative around a completed turnaround and a shift toward disciplined growth. Executive summaries and strategic updates describe cost reductions, restructuring progress, and the integration of new locations.
Regulatory and legal milestones, including a global settlement with People’s California, LLC and related parties that is subject to Bankruptcy Court approval, also appear in Blüm’s communications. For readers tracking BLMH, this news page aggregates these developments so they can monitor acquisitions, financing transactions, restructuring steps, and operating metrics over time.
On June 12, 2024, Blüm Holdings (OTCQB: BLMH) announced a favorable court ruling in an unlawful detainer action against Peoples Vape, , a subsidiary of People's California. The court's June 6, 2024 Minute Order permits Blüm Santa Ana to obtain a writ of possession, cancels People’s Vape’s rental agreement due to non-payment since March 2023, and allows for a money judgment of $102,530 in unpaid rent, $34,487 in holdover damages, and $435 in costs. The court dismissed all defenses raised by People’s Vape. Subsequently, Unrivaled Brands agreed not to enforce the order, and People’s Vape agreed to vacate the premises.
Blum Holdings (OTCQB: BLMH) reported its Q1 2024 financial results, revealing a revenue decline to $6.8 million from $8.1 million in Q4 2023. The company achieved a gross margin of 53% and decreased operating expenses by 34% to $6.1 million. Net loss improved by 61% to $3.0 million. Efforts to eliminate non-performing operations continued, with a transition to delivery-only retail and divestment of its last California cultivation facility. Unrivaled Brands became a subsidiary of Blum, executing a 1-for-100 reverse stock split and starting to trade under BLMH on February 12, 2024.
Blum Holdings Inc., a cannabis company, acknowledges the DEA's plan to reschedule marijuana as a lower-risk substance, anticipating positive changes in the industry. The company remains optimistic about the potential financial and operational benefits this move could bring. Blum expresses support for the reclassification and readiness to adapt to the evolving regulatory landscape.
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