Portland cannabis company settles outstanding debt with Unrivaled Brands, secures complete control of STICKS, Cabana, and Beaucoup brands
PORTLAND, OR – November 8, 2024 – LTRMN Inc. today announced it has successfully settled all outstanding debt obligations and the balance of its promissory note with Unrivaled Brands, marking a significant milestone in the company’s return to full financial independence.
The settlement agreement releases LTRMN Inc. from all outstanding notes with Unrivaled Brands and completes the transfer of full ownership of the STICKS, Cabana, and Beaucoup brands to LTRMN Inc. This achievement represents the culmination of strategic efforts since the company’s acquisition by its founding team in January 2023.
The settlement has a significant impact on LTRMN’s balance sheet and provides the company with full autonomy to make strategic decisions regarding its three consumer brands. STICKS is poised for a return to it’s former position as a market leader, while Cabana and Beaucoup continue to serve distinct segments of the Oregon cannabis market.
Since returning to founder control in early 2023, LTRMN Inc. has focused on operational efficiency, brand consolidation, and market positioning. The company has successfully navigated Oregon’s competitive cannabis landscape while building momentum for its flagship STICKS brand.
“Settling this debt and securing ownership of our IP demonstrates our commitment to building a sustainable, independent cannabis company,” added a company spokesperson. “We’re grateful to have achieved this milestone and look forward to the opportunities ahead as we continue growing the STICKS brand and serving Oregon consumers.”
The completion of this transaction allows LTRMN Inc. to move forward with a clean financial foundation and undivided focus on product development, market expansion, and operational excellence.
About LTRMN Inc.
LTRMN Inc. is a Portland-based cannabis brand house that operates distribution and wholesale activities throughout Oregon. The company’s flagship STICKS brand is the #1 preroll in the state. LTRMN was founded as one of Oregon’s first recreational cannabis operators and returned to founder control in January 2023. The company’s portfolio includes the STICKS, Cabana, and Beaucoup brands.