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Red, White & Bloom, Aleafia Call Off Merger

More than one-third of Aleafia shareholders did not accept the terms.

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Red White & Bloom and Aleafia Health announced the mutual termination of a planned merger.

While Aleafia had received support in writing from certain holders of the outstanding Aleafia Convertible Debentures, certain other holders representing more than 33 1/3% of the outstanding Aleafia Convertible Debentures, as represented by their designated representatives, have communicated to Aleafia and RWB that they will not accept the terms of the settlement set out in the agreement. As a result, a key condition of the proposed transaction cannot be satisfied and the parties have mutually agreed to terminate the letter agreement.

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