Cannabis Cultivation Property for sale in WA 98102

Revitalization Partners, L.L.C. (“Receiver”), the Court appointed receiver for a tier 3 cannabis producer processor based in Snohomish county Washington, is soliciting binding offers for the assets (“Assets”) of the operating company. The company is in full operation. The sale of the Assets will be documented by a written Purchase and Sale Agreement (“PSA”), which will be subject to court approval. The Assets are identified in the receivership schedules filed by the Company on or about August 8, 2023, in Snohomish County Superior Court pursuant to RCW 7.60.090 (“Receivership Schedules”).

Assets will be sold free and clear of all liabilities and liens to the full extent permitted by RCW 7.60 and associated statutes. Receiver will seek approval of the sale of the Assets to the party that offers the best price with no contingencies other than those listed herein, with full payment to be made at the time of closing. Only cash offers will be considered.

receiver will release additional information about the Assets to qualified buyers. execution of a non-disclosure agreement will be required to obtain detailed financial information. Whether a buyer is deemed “qualified” shall be determined by the Receiver in its sole discretion, although the Receiver shall be guided by evidence of financial ability to close a sale of the Assets. No individual may participate in more than one bid. Receiver is under no obligation to accept any offer that is not deemed to be in the best interest of the creditors of the receivership estate.

The Assets are being offered for sale “As Is” with no warranty. The successful buyer is responsible for inspecting the Assets prior to making an offer. The Receiver will also accept overbids from qualified buyers, that include opening bid, bid increment in dollars or percentage, by which a qualified buyer will overbid the highest offer, and a maximum dollar amount the overbidding buyer is willing to pay for the Assets.

The Company operates under a transferable cannabis tier 3 producer/processor license granted by the Washington State Liquor and Cannabis Board (WSLCB) as well as a lease agreement with the landlord. The asset sale is subject to the approval of the WSLCB by meeting all licensing requirements outlined in WAC 314-55-020 and the Snohomish County Superior Court, both of which must be obtained prior to closing the sale. The receiver, in its sole discretion, reserves the right to determine the viability of a potential purchaser prior to releasing any information.

The successful bidder will be required to post a 10% deposit, fully returnable solely should the bidder not receive approval of the WSLCB or the Court.

The Company’s Assets consist of the following:

List of Assets identified in the Receivership Schedules, except for cash and cash in transit;[1]

2 All material business records and other information in the possession of the Company; and;

All intellectual property held by the Company, including website, domain names, and social media accounts.

The receiver will accept offers through 5 PM Pacific Time, Friday January 5, 2024.

Additional financial information is available after signing a non-Disclosure agreement, for potential buyers.

Interested parties should please contact the following:

Alan M. Davis – 206-914-4107 - adavis@revitalizationpartners.com

Kern Gillette – 206-849-3826 – kgillette@revitalizationpartners.com

Revitalization Partners, LLC

2815 Eastlake Avenue East, Suite 300 Seattle, WA 98102

The Company’s identification of Assets in the Receivership Schedules was based on the best available information as of June 30, 2023. The Receiver’s investigation is ongoing, and the Assets for sale may differ. Qualified buyers are responsible for verifying the current Assets.