NetworkNewsBreaks – Supreme Cannabis Company Inc
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Posted On: 07/17/2019 4:59:19 PM
NetworkNewsBreaks – Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) to Acquire Truverra in Preparation for Legalization 2.0 and Global Wellness Markets
Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced its entry into a definitive agreement under which it will acquire all of the issued and outstanding shares of privately-held Truverra Inc. Per the update, the acquisition will be effected by way of a three-cornered amalgamation between Truverra, Supreme Cannabis and a wholly-owned subsidiary of Supreme Cannabis. The transaction is valued at 14.7 million common shares of Supreme Cannabis, with an approximate dollar value of $20,000,000 as of the company’s closing price on July 16, 2019. “The recent introduction of Health Canada’s amended cannabis regulations creates a distinct opportunity for Supreme Cannabis to establish a leading position in the cannabis extracts markets. With the acquisition of Truverra, we secure a Toronto-based facility equipped to extract our high-quality inputs for concentrates and vaping liquids in the near-term,” Supreme Cannabis CEO Navdeep Dhaliwal said in the news release. “Truverra’s operations also provide an additional entry point into Europe’s CBD wellness market, where Truverra Europe has successfully launched multiple CBD products in various jurisdictions. Truverra’s Canadian and European operations are managed by a senior leadership team with a wealth of experience manufacturing and launching products in highly-regulated industries such as life sciences and pharmaceuticals.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced its entry into a definitive agreement under which it will acquire all of the issued and outstanding shares of privately-held Truverra Inc. Per the update, the acquisition will be effected by way of a three-cornered amalgamation between Truverra, Supreme Cannabis and a wholly-owned subsidiary of Supreme Cannabis. The transaction is valued at 14.7 million common shares of Supreme Cannabis, with an approximate dollar value of $20,000,000 as of the company’s closing price on July 16, 2019. “The recent introduction of Health Canada’s amended cannabis regulations creates a distinct opportunity for Supreme Cannabis to establish a leading position in the cannabis extracts markets. With the acquisition of Truverra, we secure a Toronto-based facility equipped to extract our high-quality inputs for concentrates and vaping liquids in the near-term,” Supreme Cannabis CEO Navdeep Dhaliwal said in the news release. “Truverra’s operations also provide an additional entry point into Europe’s CBD wellness market, where Truverra Europe has successfully launched multiple CBD products in various jurisdictions. Truverra’s Canadian and European operations are managed by a senior leadership team with a wealth of experience manufacturing and launching products in highly-regulated industries such as life sciences and pharmaceuticals.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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