Cannabis company BellRock Brands sells property for $2.5 million and forgives debt – BellRock Brands (OTC:DXBRF)

Ironton Properties, LLC, a subsidiary of BellRock Brands Inc. DXBRF BRCKfinalized the sale of his real estate in Denver to a third-party buyer for $2.5 million. Approximately $2.0 million of the sale proceeds were used to fully repay a promissory note entered into in May 2022. The remaining proceeds, after fees and other costs associated with the sale of the property, will be used to repay a part of a CA $3.85 million secured promissory note held by a consortium of private lenders.

This sale seems to be the last stage of a restructuring undertaken by the company. BellRock Brands recently made the decision to leave florida market to focus on its presence in the Midwest. The company entered into a License Agreement with Motacann Holdings, LLC bring sound Dixie and Mary’s Medicinal Brands at Missouri. He also entered a OK to buy JRMI27, LLCa manufacturer of medical and adult marijuana products in Jackson, Michigan.

AAbout BellRock Brands

BellRock Brands is a multi-state home of intellectual property-focused brands and CPG operators. BellRock’s two flagship brands, Dixie Brands and Mary’s Medicinals, offer more than 200 SKUs. BellRock’s manufacturing and distribution footprint continues to expand and currently covers nine US states and Canada.

Photo: Benzinga; Sources: Courtesy of Kindel Media via Pexels

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