The auction will be held on September 7th, 2023.
All FFE for California Receivership have been sold, and we are moving into our next phase, which is an auction for the remaining assets.
The auction will be held on September 7, 2023. Bidders may attend in person or remotely via Zoom. All bidders must sign a Nondisclosure Agreement and provide proof of funds to gain access to due diligence materials.
To prequalify to bid, at least two (2) business days before the auction, bidders must (a) sign the “Revised Rules for Out-of-Court Auction Hearing”; (b) submit the required deposit to bid via a cashier’s check, wire transfer, or ACH; bidders will be responsible for all fees related to ACH/wire transfers; and (c) provide proof of funds.
The top three (3) bidders for each asset will be given purchase agreements to sign, and the top bidders’ deposits will be held in a trust account pending completion of the sales, with all deposits being returned to the top bidders who do not close at/after closing. All other deposits (cashier’s check, wire transfer or ACH) will be returned/refunded promptly following the auction.
It is important to note that license transfers are always a process, and any operation during that transfer will be arranged with our compliance and legal teams.
8/22/23 RECEIVERSHIP UPDATE:
Santa Ana License
- $50,000 Starting Bid
- $5,000 bid increments
- $25,000 deposit
- 1 Type 11 Distribution License
- Cannabis License that can be moved to any property
- RSP-2022-92 (Regulatory Safety Permit)
- Optional 7,000 sq ft lease available at the current property, subject to landlord approval that can be delivered turnkey
Receivership Bucket Updates:
* Subject to finding property and moving license *
|Lawsuit||Breach of Contract||$3,000,000|
Miklos Campuzano – Cannabis Real Estate Consultants – DRE# 02072292
Disclaimer “The information contained herein has been obtained from the business owner or other third party and is provided to you without verification as to accuracy. We (WeCannCa Inc., its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, business, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction.”