Shares of Chalice Brands Ltd (OTCMKTS:CHALF) closed higher in the previous trading session. However, the stock is still down 45% in a month.
Market Reaction
On Wednesday , CHALF stock moved up 5.95% to $0.2814 with more than 13K shares, compared to its average volume of 33k shares. The stock has moved within a range of $0.2600 – 0.2926 after opening trade at $0.2612.
Chalice Brands Ltd. Announces Final Closing and Amended Terms of Acquisition of Tozmoz Assets, A Premier Cannabis Extractor In Oregon
Premier consumer-driven cannabis firm specializing in retail, production, and processing, Chalice Brands Ltd (OTCMKTS:CHALF), on December 22, 2021, announced that the firm had got all the needed regulatory approvals from the Oregon Liquor Control Commission as well as Clackamas County for finishing the previously announced acquisition of assets of Tozmoz, LLC, an Oregon limited liability company.
Jeff Yapp, President and Chief Executive Officer of Chalice expressed delight in formally closing the transaction with Tozmoz, a partner instrumental in strengthening the company’s product portfolio, especially for RXO and Elysium Fields and RXO.
Yappo added that even though the company awaits regulatory approvals, some unexpected delays happened due to the pandemic. The company will continue to take advantage of broad capabilities as well as expertise for providing support to the company’s strategy for the expansion of its diverse portfolio of products.
The CEO added that the focus on serving quality cannabis products is making the firm leverage ability scale and cementing its position as a leader in West Coast.
Meghan Miller, Chief Operating Officer of Chalice said that it has been a brilliant experience working with the co-founder of Tozmoz and the team and the company has been a vital partner for Chalice.
Joel Klobas, Co-founder of Tozmoz, said that Chalice has the best leadership for elevating business at a higher level. Tozmoz is a premier cannabis extractor and provides several extraction processes including CO2, hydrocarbon, and ethanol.
