Chalice Brands Ltd. Enters Into Amended Agreement to Acquire Cannabliss & Co. Retail Locations

PORTLAND, Ore., July 05, 2022 (GLOBE NEWSWIRE) -- Chalice Brands Ltd. (CNSX:CHAL.CN) (OTC-BB:CHALF) (the “Company” or “Chalice Brands”), a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, today announces that the Company signed an amending agreement July 1, 2022 (the “Amending Agreement”), to improve the terms of its previously disclosed Asset Purchase Agreement (the “Original Agreement”), which was originally executed on September 16, 2021, to acquire four retail stores branded Cannabliss & Co. ("Cannabliss") from Acreage Holdings, Inc. ("Acreage"), for total consideration of US$6,500,000. The closing of the transaction as amended by the Amending Agreement (the “Transaction”) is subject to approval by the Oregon Liquor and Cannabis Commission (“OLCC”) and the satisfaction of other closing conditions. The OLCC approval is expected to occur within the next 30 days.