Unrivaled Brands, Inc. entered into binding Letters of Intent with two Cookies branded retail stores: Cookies Redding in Redding, CA and Cookies Oakland in Oakland, CA. On December 30, 2022, the Company entered into binding Letters of Intent with each of Green Door Redding, LLC and 510 Retail & Events, Inc. pursuant to which Unrivaled will enter into a Management Services Agreements to operate the respective dispensaries. It is anticipated that each of the Management Services Agreement with Cookies Redding and the Management Services Agreement with Cookies Oakland will provide that Cookies Redding and Cookies Oakland will pay Unrivaled a management fee equal to an amount of up to 25% of the Net Revenue (as such term is defined in each Letter of Intent) of the Cookies Redding dispensary and the Cookies Oakland dispensary for the Company's services.