Green Acre Capital Distribution Corp. Increases Stake in US Distribution Joint Venture, Humble & Fume Provides Additional Information on Private Placement

Humble & Fume Inc. a distributor of cannabis and cannabis accessories in North America, has announced that Green Acre Capital Distribution Corp. has made an additional investment of US$1.99 million in HC Solutions Holdings Inc. (HCI), increasing its ownership stake in the joint venture. Humble & Fume has also invested US$1.89 million in HCI through the forgiveness of an equivalent amount owed by HCI to Humble & Fume. HCI was established as a joint venture between Humble & Fume and Green Acre Capital Distribution Corp. to focus on the distribution of cannabis, with a particular emphasis on expanding operations in California.

Following this investment, Green Acre’s ownership stake in HCI has risen from 50% to 50.2%, while Humble & Fume retains 49.8% ownership.

Similar to Green Acre’s previous investments totaling US$10 million in HCI, this additional funding of US$1.995 million was made possible through an option agreement with Johnson Brothers, a prominent distributor of wine, spirits, and beer in the United States. For further details on the joint venture and option agreement, refer to Humble & Fume’s press releases dated November 15, 2021, April 25, 2022, September 13, 2022, and March 1, 2023.

Jakob Ripshtein, CEO of Humble & Fume, expressed his appreciation for the support provided by Johnson Brothers through their option agreement with Green Acre. Ripshtein stated that the partnership with Johnson Brothers exemplifies their commitment to assisting Humble & Fume’s expansion efforts in the United States. Johnson Brothers is widely recognized for its operational excellence in nationwide distribution of alcoholic beverages.

The additional investment by Green Acre and the continued collaboration with Johnson Brothers highlight Humble & Fume’s strategic initiatives to strengthen its presence in the cannabis distribution market, particularly in California. As the company continues to navigate the evolving cannabis industry, partnerships and investments play a crucial role in driving growth and expanding market reach.