Midas AI Pursues Additional Acquisition of Marijuana Cultivation Sites in the U.S.

[Asia Economy Reporter Yoo Hyun-seok] Midas AI announced on the 18th that it is pursuing additional acquisitions of marijuana cultivation sites located in California, USA.

A company official stated, "The acquisition of recreational marijuana product retail stores is currently under review after local due diligence, and we plan to increase production by acquiring additional cultivation facilities," adding, "We aim to simultaneously pursue vertical integration of the marijuana business and expand production volume, ultimately targeting a Nasdaq listing."

On the 10th, Midas AI completed the acquisition of the U.S. marijuana business corporation Melrose Facility Management (MFM) and is now operating in the marijuana business. MFM cultivates, extracts, and sells marijuana in California, USA.

Midas AI's strategy is to expand the marijuana business by utilizing the California license held by MFM. The company plans to acquire additional cultivation facilities and retail stores and merge them with MFM.

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