ACQUISITIONS, DIVESTITURES AND ASSETS HELD FOR SALE

3 Months Ended

Mar. 31, 2023

Business Combinations, Discontinued Operations And Disposal Groups [Abstract]

ACQUISITIONS, DIVESTITURES AND ASSETS HELD FOR SALE

Acquisitions

On January 2, 2023, a subsidiary of the Company acquired cultivation, processing and retail operations in Maine from a third party who provided cultivation, manufacturing, processing, distribution and handling, recordkeeping, compliance, and other services to the Company’s operations in Maine. Under the terms of the agreement, the consideration paid consisted of the settlement of a pre-existing relationship, which included a line-of credit, other advances and the related interest receivable, all totaling $27,691, which were previously recorded in Notes receivable, net on the Statements of Financial Position.

The purchase price allocation is based upon preliminary valuations and estimates and assumptions which are subject to change within the measurement period, generally one year from the acquisition date. The primary areas of the purchase price allocation that are not yet finalized relate to the valuation of the capital assets, tangible and intangible assets acquired and the residual goodwill resulting from the transaction.


Purchase Price Allocation	Northeast Patients Group
Assets acquired:
Cash and cash equivalents	$	516
Inventory	384
Other current assets	5,580
Capital assets	2,404
Operating lease right-of-use asset	1,695
Goodwill	24,933



Liabilities assumed:
Accounts payable and accrued liabilities	(3,679)
Taxes payable	(1,112)
Operating lease liability, current	(160)

Operating lease liability, non-current	(1,844)
Notes payable	(11)
Deferred tax liability	(1,015)
Fair value of net assets acquired	$	27,691

Consideration paid:
Settlement of pre-existing relationship	27,691
Total consideration	$	27,691

During the year ended December 31, 2022, the Company did not complete any business acquisitions.

Divestitures

During the three months ended March 31, 2023 and 2022, the Company did not complete any divestitures.

Assets Held for Sale

As of March 31, 2023 and December 31, 2022, the Company did not have any business or assets that met the held-for-sale criteria.

During the three months ended March 31, 2022, the Company recognized a write down of assets held-for-sale of $874 related to its Oregon operations within Write down (recovery) of assets held-for-sale on the Unaudited Condensed Consolidated Statements of Operations.