Canadian hemp products company Avicanna has it Find out how much he pays For the purchase of a medical cannabis company from major Canadian drugstore chain Shoppers Drug Mart: C$2.6 million ($1.9 million).
Avicanna will also pay shoppers earnings payments based on net revenue for two years, the company said in a press release.
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Avecana said the deal covers “select assets of the company, including inventory and equipment.”
Shoppers declared their intent to Exiting the medical cannabis distribution business And transferred to Avicanna in late March.
At the time, Shoppers and Avicanna did not disclose the value of the deal.
The deal is scheduled to expire at the end of July.
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Avicanna is building a new online medical cannabis platform to serve patients who are transitioning shoppers.
The company’s shares are traded on behalf of avcn on the Toronto Stock Exchange.
Read the full article at Marijuana Business Daily
