Hiku Brands Company Ltd. (CSE: HIKU) is planning to acquire Weed MD Inc. (TSX-V:WMD) (OTC:WDDMF) after a definitive agreement was signed this week to merge both of the public companies.
The merger, that is still subject to regulatory approval, combines two fully integrated cannabis public companies in Canada. The combined public company will own a network of cannabis based retail stores, a growing medical business, and two licensed cannabis production facilities. Upon the completed transaction shareholders in both companies will obtain approximately 51.75% and 48.25%.
Hiku Brands most recognized subsidiary is the Tokyo Smoke cannabis retail stores who won honors of “Brand of the Year 2o17” at the Life Cannabis Awards. Tokyo Smoke has also be awarded on of the only four condition master licensed for retail cannabis distribution in Manitoba, Canada. The company hopes that by integrating WebMD’s already established presence in the medical cannabis field that Hiku Brands can now offer legitimized medical expertise to its patients. This deal is intended to increase significant benefits for its shareholders.
The combined company is planning to expand its operations of retail and online sales aggressively into British Columbia, Alberta, Saskatchewan and Manitoba. By integrating Hiku Brands and WebMD, the two company’s will accelerate future product development and expansion of their recognized brands in Canada.