TORONTO, April 26, 2022 - PRESS RELEASE – Humble & Fume Inc., a North American distributor of cannabis and cannabis accessories, announced that further to the company's press release on Nov. 15, 2021, it has formed HC Solutions Holdings Inc., a joint venture with Green Acre Capital Distribution Corp. (Green Acre), for distribution of cannabis throughout the United States. The joint venture focuses on accelerating Humble's expansion into cannabis distribution operations in California.
After forming the joint venture, Green Acre completed a $2 million investment directly in the partnership. Green Acre has funded its acquisition through an option agreement with Johnson Brothers, a wine, spirits and beer distributor in the United States.
"The additional $2 million investment by Johnson Brothers, funded through their Green Acre option agreement, demonstrates continued support for our U.S. expansion strategy. Humble is excited to launch in the California market, delivering something new to the cannabis brands in that area," Humble CEO Joel Toguri said in a press release. "We are actively executing on our growth strategy. As our business evolves and expands, we continue to be hyper focused on sustainable profit generation and positive cash flow to deliver long-term shareholder value."
