Vertical Companies™ to Expand Its Multi-State Operations & Brands with $462.5 Million Acquisition of UMBRLA Holding Company and Brands

LOS ANGELES–(BUSINESS WIRE)–Vertical Companies™ (“Vertical”) today announced it has entered
into an exclusive letter of intent (“LOI“) with the newly
formed UMBRLA, Inc. (“UMBRLA”), a holding company in the process
of consolidating several highly-specialized cannabis subsidiaries active
in California, Oregon, Nevada, Arizona, and Oklahoma. The companies
UMBRLA is consolidating generated over $32 million in cannabis revenue
in 2018. Together, these two entities are expected to generate nearly
$100 million in 2019 and $321 million in 2020 in cannabis revenue,
making Vertical among the largest multi-state operators in the industry.

The combined

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