EXHIBIT 21.1

SUBSIDIARIES OF THE REGISTRANT

Blum Holdings, Inc. is a holding company with the following subsidiaries:

• Unrivaled Brands, Inc., a Nevada corporation (“Unrivaled”);

• Black Oak Gallery, a California corporation (“Black Oak” or “Blüm Oakland”);

• Blüm San Leandro, a California corporation (“Blüm San Leandro”)

• 2705 PFC, LLC, a Nevada limited liability company;

• 3242 Enterprises, Inc., a California corporation (“The Spot”);

• 3242 Holdings, LLC, a Nevada limited liability company;

• Halladay Holding, LLC, a California limited liability company (“Halladay”);

• People's First Choice, LLC, a California limited liability company (“Blüm OC”);

• People's Costa Mesa, LLC, a California limited liability company; and

• IVXX Gardens I, Inc., a California corporation.