April 9 (Reuters) - MERCER PARK BRAND ACQUISITION:
* MERCER PARK BRAND ACQUISITION AND GLASS HOUSE GROUP ANNOUNCE BUSINESS COMBINATION
* MERCER PARK BRAND ACQUISITION - DEAL FOR TOTAL CONSIDERATION OF ABOUT US$567 MILLION
* MERCER PARK BRAND ACQUISITION - RESULTING CO'S SHARES WILL BE LISTED ON NEO EXCHANGE UNDER TICKER SYMBOL GLAS.U
* MERCER PARK BRAND ACQUISITION - COMBINED CO EXPECTS TO GENERATE FY 2022 REVENUE & ADJUSTED EBITDA OF ABOUT US$326 MILLION AND US$104 MILLION, RESPECTIVELY
* MERCER PARK BRAND ACQUISITION - POST DEAL CLOSE, KYLE KAZAN & GRAHAM FARRAR ARE EXPECTED TO CONTINUE TO SERVE AS CEO & PRESIDENT, RESPECTIVELY
* MERCER PARK BRAND ACQUISITION - INVESTORS COMMIT TO US$85 MILLION PRIVATE PLACEMENT; COMBINED PUBLIC CO EXPECTED TO HAVE OVER $US350 MILLION CASH BALANCE AT CLOSING
* MERCER PARK BRAND ACQUISITION - DEAL EXPECTED TO CLOSE IN H1 OF 2021, WITH GLASS HOUSE FOUNDERS RETAINING OVER 50% OF VOTING INTEREST
* MERCER PARK BRAND ACQUISITION - IN 2023, CO EXPECTS GROWTH TO CONTINUE TO ABOUT US$601 MILLION IN REVENUE AND US$240 MILLION IN ADJUSTED EBITDA
* MERCER PARK BRAND ACQUISITION - GLASS HOUSE'S RETAIL FOOTPRINT EXPECTED TO REACH 21 OPERATIONAL DISPENSARIES BY Q1 2022