Harvest One Cannabis Inc. (TSXV: HVT) announced this morning that the company has today entered into a definitive agreement to acquire of all the outstanding shares of Dream Water Products Canada Inc. and Sarpes Beverages, LLC in exchange for a total of US$12.5 million in cash and C$18.5 million in shares for a total of approximately C$34.5 million to facilitate the transaction.
Harvest One Cannabis has facilitated the deal after the news that Dream Water Canada is establishing a CBD based product development program. Products will include oral sprays, CBD tinctures, and water soluble based product for the planned recreational Canadian market.
Dream Water’s product line in available in over 30,000 retail stores in Canada, the United States, and Mexico. The company is also in the process of launching an international distribution division that will be focusing on obtaining licenses to venture into international markets.
Andreas Gedeon, CEO of Harvest One, gave this statement in the press release:
“Dream Water positions us as first movers in both the global cannabis and sleep markets, two robust industries that are expanding rapidly. The synergies between the two are expected to add significant value for our shareholders.”
You may be interested
VividGro, a Pegasus Capital Advisors Portfolio Company, Announces Partnership with Merida Capital PartnersEditor - August 17, 2018
Partnership to Focus on Growth in Horticultural and Cannabis Industries VividGro, LLC, a portfolio company of private equity firm Pegasus Capital Advisors (Pegasus), today announced it has…
Harborside to Go Public Via Canadian Reverse Takeover in Deal Valued at C$200 MillionEditor - August 15, 2018
Harborside, a California based cannabis dispensary brand with multiple locations, is planning the reverse takeover of Canadian public company Lineage Grow Company Ltd. (CSE: BUDD). Lineage is…
The City of Los Angeles Has Begun Accepting Applications for Cannabis LicensesEditor - August 15, 2018
At the beginning of this month, the city of Los Angeles finally decided to start accepting license applications from cannabis growers, manufacturers, and testing labs. Although marijuana was…