 PORTLAND, Ore., Sept. 16, 2021 GLOBE NEWSWIRE -- Chalice Brands Ltd. CSE:CHAL OTCQB:CHALF Chalice or the Company, a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, has entered into an asset purchase agreement and a services agreement effective September 16, 2021 the Agreement to acquire four retail stores branded Cannabliss Co. from Acreage Holdings, Inc. Cannabliss, located in Portland, Eugene, and Springfield, Oregon for total consideration of US6.5 million less US500,000 working capital surplus required to be left by the seller or 0.8 times FY 2020 annualized revenue. With the Cannabliss acquisition, Chalice strengthens its customer base in the Oregon market, while also significantly increasing vertical margin contribution through the distribution of its Bald Peak flower, Chalice, Private Stash, RXO, and Elysium Fields branded products into the Cannabliss stores. The closing of the transaction is subject to approval by the OLCC Oregon Liquor and Cannabis Commission and the satisfaction of other closing conditions. 