Alta Supply Inc. (“Alta Supply”) received a Temporary Cannabis Distribution License (Type 11 – Medical). Vista Distribution Inc. (“Vista”), an Oakland distribution company 49% owned by Alta Supply, received the same class of distribution license the date prior (collectively, the (“Licenses”). These Licenses enable Alta Supply and Vista to engage in commercial cannabis distribution in the state of California, through facilities in Oakland, California. Alta Supply is a distributor of Bhang vaporizer and Bhang chocolate products, as well as products for over a dozen other well-known third-party cannabis companies throughout California. As announced on November 28, 2017, CannaRoyalty has executed a binding term sheet to acquire Alta Supply.
“Distribution is going to be an increasingly important part of the value chain moving through 2018 as Californiatransitions to a full recreational adult-use market,” said Marc Lustig, CEO of CannaRoyalty.