I don't think we sold it just yet, in the NR from July 21st it says:

"We expect the sale to close in September 2021 and will use the net proceeds to invest in equipment to expand operational capacity. (...) The sale is subject to customary closing conditions in addition to approval by the Nevada Cannabis Compliance Board. (...) LUFF CEO Philip Campbell commented, “(...) With the Nevada facility sale on track to complete in the next 60 days, we will have additional capital to invest in scaling sales"

It also says:

"Concurrent to developing the US market, we continue discussions with partners for expansion into new and promising international markets, like Mexico and Europe, with the aim of replicating the D-to-C model in these markets."

Hopefully everything is on track with the sale of Nevada facility and we need extra financing because there has been some development in the talks with partners from Mexico and Europe. I guess we will find out by the end of September.


Golddetector wrote: Just sold a facility for 6 millions. Why do they need this? Did I miss anything here?

 

We expect the sale to close in September 2021 and will use the net proceeds to invest in equipment to expand operational capacity. We will also expand our existing D-to-C pipeline by allocating more money into advertising in channels, where we are seeing a strong return-on-ad-spend (ROAS).

The sale is subject to customary closing conditions in addition to approval by the Nevada Cannabis Compliance Board. 

LUFF CEO Philip Campbell commented, “We are extremely happy with the growth of our online sales in the second quarter: over 3x the sales of the first quarter. Our targeted advertisements combined with data driven algorithmic marketing strategy is showing promising early results and good market acceptance of our best-in-class products. We have built a strong inventory in high velocity products and the margins are holding up well. We expect this profitable growth to continue, as we ramp up in the quarters ahead. With the Nevada facility sale on track to complete in the next 60 days, we will have additional capital to invest in scaling sales.”