|6 Months Ended||12 Months Ended|
Jun. 30, 2021
Dec. 31, 2020
|19. SUBSEQUENT EVENTS||
19. SUBSEQUENT EVENTS
The Company has evaluated subsequent events through August 16, 2021, the date the financial statements were available to be issued.
23. SUBSEQUENT EVENTS
On February 25, 2021, the Company announced the acquisition of substantially all of the assets of the Lowell Herb Co. and Lowell Smokes trademark brands, product portfolio, and production assets from The Hacienda Company, LLC, a California limited liability company (“Hacienda”). Lowell Herb Co. is a leading California cannabis brand that manufactures and distributes distinctive and highly regarded premium packaged flower, pre-roll, concentrates, and vape products. The acquisition was valued at approximately $39 million, comprised of $4.1 million in cash and the issuance of 22,643,678 subordinate voting shares. Hacienda has agreed to continue to produce Lowell products for an interim period for the account of the Company pending completion of the transfer of certain regulatory assets. In connection with this acquisition, the Company completed a change in its corporate name to Lowell Farms Inc effective March 1, 2021.
The Company has evaluated subsequent events through April 12, 2021, the date the financial statements were available to be issued.
(Amounts Expressed in United States Dollars Unless Otherwise Stated)
VALUATION AND QUALIFYING ACCOUNTS
Three Years Ended December 31, 2020
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef