CbdMD Receives $1M Return Of Capital Following Closing Of Adara SPAC Transaction

 cbdMD, Inc. (NYSE:YCBD) (NYSE:YCBDPA), one of the nation's leading, highly trusted and widely recognized CBD companies, today announces the closing of the return of its $1 million investment following the closing of the ADARA SPAC acquisition on February 10, 2023.

"We congratulate Adara and Alliance Entertainment, Inc. on all the hard work over the last year to complete the transaction and wish them continued success. The return of the $1 million of non-dilutive capital comes at an important time as we continue to focus on executing our plan to profitability," said Ronan Kennedy, CFO and COO at cbdMD.