An unknown buyer signed a binding agreement to acquire select assets in Oregon of C21 Investments Inc. for $2 million on January 19, 2022. As per the terms of the transaction, C21 received a $0.1 million cash down payment with an additional $0.4 million to be paid upon receipt of the Oregon Liquor and Cannabis Commission's approval of the license transfer and closing. C21 will receive interest-only monthly installments starting in July 2022 at an annual interest rate of 8%, including annual principal payments of $0.1 million, on a $1.5 million secured promissory note maturing on the fifth anniversary of the agreement.

The transaction is subject to the approval of the Oregon Liquor and Cannabis Commission.